KPMG con­tin­ues growth mo­men­tum, in­vests across Mideast, South Asia

Record­ing dou­ble digit growth for third con­sec­u­tive year

Kuwait Times - - BUSINESS -

KUWAIT: KPMG in the Mid­dle East & South Asia (MESA) re­gion re­ported a 10.7 per­cent growth in ag­gre­gated rev­enues of mem­ber firms across the MESA re­gion for the fis­cal year ended 30 Septem­ber 2016. This was the third con­sec­u­tive year for the re­gion to record dou­ble digit growth, plac­ing it among the fastest grow­ing re­gions within the KPMG net­work.

Dur­ing the year, KPMG across the MESA re­gion had over 2,500 new join­ers in­clud­ing 12 new Part­ners. A fur­ther 15 Part­ners were ap­pointed through in­ter­nal pro­mo­tions. By the year end, KPMG’s re­source pool within the re­gion had ex­panded to nearly 7,000 pro­fes­sion­als and as­so­ci­ates with mem­ber firms present in 14 coun­tries and cover­ing 30 of­fice lo­ca­tions.

“KPMG’s strong FY16 re­sults, in what re­mains a slow-growth global en­vi­ron­ment, are a tes­ta­ment to the pas­sion and in­no­va­tive think­ing we bring to our work. In to­day’s volatile busi­ness cli­mate, our strate­gic in­vest­ments in tech­nol­ogy, al­liances, and our peo­ple, are fu­elling our growth across our ge­ogra­phies and ser­vice lines. In FY16, thou­sands of ex­tra­or­di­nary peo­ple were hired across the KPMG net­work, and we con­tin­ued our re­lent­less fo­cus on pro­vid­ing high-qual­ity, ex­cel­lent ser­vice.” said John Veih­meyer, Chair­man, KPMG In­ter­na­tional.

“We con­tin­ued to prioritize strate­gic in­vest­ments in new ser­vices and tech­nolo­gies in FY16, fo­cus­ing on the ar­eas where we see busi­nesses fac­ing the great­est chal­lenge and dis­rup­tion. We are also work­ing closely with a num­ber of the world’s lead­ing tech­nol­ogy com­pa­nies, in al­liances that bring to­gether world-class in­no­va­tion, busi­ness ex­per­tise and lead­ing edge tech­nol­ogy.” he added.

Com­ment­ing on de­vel­op­ments across the re­gion, Ab­dul­lah Al-Fozan, Chair­man of KPMG MESA and Mem­ber of KPMG’s Global Board said: “Through­out FY16 we have con­tin­ued to ag­gres­sively in­vest in ar­eas such as strat­egy and op­er­a­tional con­sult­ing, dig­i­tal and cus­tomer ex­pe­ri­ence, oil & gas and chem­i­cal sec­tor ca­pa­bil­i­ties, in­di­rect tax­a­tion with a spe­cific fo­cus on VAT as well as se­nior re­cruit­ments to en­hance ca­pa­bil­i­ties in trans­fer pric­ing, trade and cus­toms, tech­nol­ogy trans­for­ma­tion, risk, cy­ber se­cu­rity, fi­nan­cial ser­vices sec­tor ca­pa­bil­i­ties and data & an­a­lyt­ics among a broader set of re­gional growth ini­tia­tives.”

“As part of our strat­egy, we have also in­creased in­vest­ments in Au­dit with a num­ber of Part­ner ap­point­ments and added more than 300 peo­ple to our au­dit teams across the re­gion. By de­vel­op­ing and em­pow­er­ing our peo­ple across all func­tions, we are bet­ter able to of­fer prac­ti­cal in­sight that as­sist our clients to op­er­ate more ef­fec­tively in chang­ing busi­ness en­vi­ron­ments.” he added.

High­light­ing the sig­nif­i­cance of KPMG’s im­pact in the mar­ket­place, KPMG mem­ber firms in the re­gion re­ceived a num­ber of ac­co­lades in­clud­ing the Best Au­dit Ser­vices Award at MENA Fund Man­ager Fund Ser­vices Awards and at the MENA In­surance Re­view’s In­surance Awards - 2016, the Ac­count­ing Firm of the Year at the CFO Mid­dle East Awards ear­lier in the fis­cal year and con­tin­ued to be ranked as a ‘Top Tier Firm’ in the Gulf Co­op­er­a­tion Coun­cil (GCC) re­gion ac­cord­ing to the In­ter­na­tional Tax Re­view since 2015.

In ad­di­tion, a num­ber of KPMG’s global ini­tia­tives took place in the MESA re­gion dur­ing FY16 in­clud­ing KPMG’s flag­ship global re­cruit­ment ini­tia­tive - the KPMG In­ter­na­tional Case Com­pe­ti­tion, KPMG’s Global Build­ing, Con­struc­tion & Real Es­tate Con­fer­ence and KPMG’s Europe, Mid­dle East & Africa Part­ners’ Con­fer­ence. Ab­dul­lah Al-Fozan con­cluded his com­ments by say­ing: “To­day, KPMG is one of the most re­sourced pro­fes­sional ser­vice net­works in the re­gion with a vast clien­tele com­pris­ing public sec­tor in­sti­tu­tions, multi­na­tion­als, re­gional and lo­cal com­pa­nies, en­ter­prise busi­nesses as well as other or­ga­ni­za­tions. We also con­tinue to work along­side some of the largest eco­nomic trans­for­ma­tion pro­grams, as­sist­ing the in­sti­tu­tions driv­ing these ini­tia­tives in work­ing to­wards achiev­ing macro level ob­jec­tives.”

In the wider Global con­text, KPMG In­ter­na­tional an­nounced ag­gre­gated net­work rev­enues of US$25.42 bil­lion for the fis­cal year ended 30 Septem­ber 2016 (FY16), rep­re­sent­ing an 8.0 per­cent in­crease in lo­cal cur­rency terms.

In FY16, more than 37,000 new grad­u­ates and other en­try-level pro­fes­sion­als joined KPMG mem­ber firms, and more than 300 new ex­ter­nal part­ners and more than 600 pro­moted KPMG part­ners were wel­comed into the lead­er­ship ranks. KPMG’s global work­force grew by more than 8 per­cent to al­most 189,000 part­ners and staff, the high­est num­ber of in­di­vid­u­als ever em­ployed across the net­work.

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