KPMG International reported that member firms posted combined revenues of $16.9 billion for the 2006 fiscal year, a 7.6 percent gain in U.S. dollars over the prior year.
In 2005, the firm reported composite revenues of $15.69 billion, an increase of 16.7 percent in U.S. dollars over 2004.
Advisory was the fastest growing service line for the Big Four firm, with revenues up 12.9 percent. This year, the firm decided to create a single advisory function on a global basis -- merging KPMG’s Financial Advisory and Risk Advisory services into a new advisory business combining technical experience and capability in nine service lines.
Other strong lines were audit, with revenues up 8.9 percent, and tax services, with revenues up 6.4 percent.
Growth rose to an average of 42 percent among KPMG member firms representing Brazil, Russia, India and China. With local growth of 13.7 percent, Asia Pacific was KPMG’s fastest growing region, followed by Europe, Middle East and Africa (12.4 percent) and the Americas (4.3 percent).
KPMG’s member firm in China also opened three new offices, and plans to open at least another pair in 2007.
There are now more than 6,800 partners in KPMG member firms in 148 countries. During the year, KPMG member firms appointed a total of 595 new partners and 16,000 new graduates. The total number of KPMG employees globally rose to 113,000, an increase of 9 percent from the previous year.
