ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø

• Strong financial performance against challenging economic backdrop underlining the resilience of our multi-disciplinary global organization 
• Reported aggregated revenues of US$35 billion  
• Revenue growth across all functions: Advisory up 19%, Tax & Legal Services up 10%, and Audit up 8%
• Steady growth across all regions with the Americas reporting 16% growth 
• More than 29,000 new roles created across the global organization in FY22 
• New leadership team appointments lead to gender parity for the Global Management Team 

London, 13 December 2022: ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø International announces strong annual aggregated revenues for ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø firms globally of US$35 billion for the fiscal year ending 30 September 2022 (FY22) â€� an increase of 14%.*

During continued economic and geopolitical uncertainty, robust numbers and consistent growth were achieved across all functions. Advisory achieved the largest growth increase â€� up 19% on FY21 across ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø firms globally. Growth was driven by the success of Transaction and Deal Advisory services, as well as continued demand for innovative technologies and advanced cyber security solutions. Tax & Legal Services experienced 10% growth while Audit grew 8%, benefiting from a combination of the investments made in technology and our ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø firms' globally connected local knowledge.

The ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø global organization's worldwide headcount continues to grow, increasing by 12.4% in FY22, bolstered by more than 29,000 net new roles created. This growth has led to the addition of specialists and subject-matter experts at all levels, helping to enable high-quality and multi-disciplinary services designed to solve the complex problems of modern organizations around the world.  

ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø’s commitment to inclusion, diversity and equity (IDE) remains; women represent 48.5% of all ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø professionals and we have achieved gender parity on the Global Management Team. 

Bill Thomas commented:

The past year has seen the demand for technology-enabled transformation rise dramatically, reshaping many businesses, including our own. ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø continues to make significant investments across the organization in digital transformation, including the appointment of Lisa Heneghan, as our new Global Chief Digital Officer. Over the last year, ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø professionals have helped clients transform their business model or processes, leading to more than 20% growth in revenue in this area from FY21 that is largely driven by digital transformation work â€� a testament to ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø firms' offerings: "Connected. Powered. Trusted. Elevate." and the power of our alliance-driven digital solutions with globally recognized technology organizations.

Technology enables everything ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø firms do as digital businesses and continues to drive our investments in compliance and strategic tax advisory services. ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Digital Gateway, our cloud-native platform solution powered by Microsoft Azure, provides clients with access across our full suite of tax and legal technologies across 140 jurisdictions, helping organizations turn data into value when faced with huge shifts in the global tax policy and regulatory landscape. Â�

More and more global organizations have looked to cloud technologies for growth opportunities, and through the power of our global delivery centres, the ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Delivery Network, ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø firms have harnessed the agility and power of our global teams to extend the power and reach of technology solutions.

ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø has invested significantly in our system of quality management throughout the organization, enabling compliance with new industry-wide global quality management standards. Following its rollout two years ago, ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Clara, our global, cloud-enabled, smart audit platform, also powered by Microsoft Azure, is used by nearly all 90,000 audit professionals across the 143 countries and territories that ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø firms operate in.

ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Clara is an important step in ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø’s journey to innovate and digitalize Audit. As part of our ongoing commitment to audit quality, consistency and innovation, the platform is a significant investment that integrates new and emerging technologies, with advanced capabilities that leverage data science, audit automation, and data visualization. 

ESG remains the watermark running through the organization and steady financial growth has underpinned investment in industry-leading global environmental, social and governance (ESG) solutions � in line with the US$1.5 billion commitment we made in 2021. 

ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø professionalsâ€� focus on delivering multi-disciplinary client solutions to maximize the opportunities and address the challenges presented by the ESG agenda includes the creation of a global climate change and decarbonization hub to provide emerging technology expertise and decarbonization support and the launch of the sustainability reporting resource center to provide guidance in preparation for the International Sustainability Standards Board’s (ISSB) forthcoming Sustainability Disclosure Standards. 

To date, almost 100,000 ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø professionals have undertaken specialist ESG 101 training. This program of learning for a lifetime will continue.

ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø is a global organization of independent professional services firms providing Audit, Tax and Advisory services. ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø is the brand under which the member firms of ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø International Limited (“ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Internationalâ€�) operate and provide professional services. “ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍøâ€� is used to refer to individual member firms within the ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø organization or to one or more member firms collectively.

ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø firms operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø firm is a legally distinct and separate entity and describes itself as such. Each ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø member firm is responsible for its own obligations and liabilities.

ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø International Limited is a private English company limited by guarantee. ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø International Limited and its related entities do not provide services to clients.

For more detail about our structure, please visit kpmg.com/governance.

*14% is based on the growth in continuing operations, and excludes the FY21 and FY22 revenues from businesses sold or countries from which ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø exited during this period. When not restated, the revenue growth is 13% and all other growth rates in this press release are similarly not restated, unless highlighted.

The financial information set out represents combined information of the independent ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø member firms that perform professional services for clients, affiliated with ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø International Limited. The information is combined here solely for presentation purposes. ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø International Limited performs no services for clients nor, concomitantly, generates any client revenue. 

FY22 revenues throughout this press release, reflect ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø’s financial year between 1 October 2021 and 30 September 2022 and are based on US dollar gross revenues, including travel and other client reimbursable expenses. Local growth percentages are based on maintaining consistent FY22 exchange rates within the prior year. 

Headcount reported above based on partners and staff employed as of 30 September 2022. 

Legal services may not be offered to SEC registrant audit clients or where otherwise prohibited by law. 

Throughout this press release, “weâ€�, “ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍøâ€�, “usâ€� and “ourâ€� refers to the global organization or to one or more of the member firms of ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø International Limited (“ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Internationalâ€�), each of which is a separate legal entity. ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø International or any other member firm vis-à-vis third parties, nor does ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø International have any such authority to obligate or bind any member firm.