KPMG, the network of professional services firms providing Audit, Tax and Advisory services, today announced member firm combined revenues totaling US$20.63 billion for the fiscal year ending September 30, 2010, versus US$20.11 billion for the prior fiscal year, representing a 2.6 percent increase in U.S. dollars; a 0.1 percent increase in local currency terms.
“These combined FY10 revenues overall reflect positive and improving business performance across the KPMG network of firms and functional businesses worldwide,” said Timothy P. Flynn, Chairman of KPMG International.
“This improvement underscores the strength of our brand and that, in a significantly changing economic and regulatory environment, clients and stakeholders value how the high-performing people of KPMG are cutting through complexity, delivering informed perspectives and clear solutions to them,” he said.
Among the geographic regions, growth this year in Asia Pacific – KPMG’s strongest performing region – continued to demonstrate the far-reaching opportunities among developing markets. Revenues in the BRIC countries as a group grew 7.5 percent for the year. Also, the fastest growing among the largest member firms was India, growing in excess of 20 percent, reflecting continued investment and growth in the Indian economy.
Global revenues for fiscal 2010 in KPMG’s Audit services totaled US$9.91 billion versus US$9.95 billion in aggregated revenues last year. This represented a 0.4 percent decline in U.S. dollars; a 2.9 percent decline in local currency terms.
KPMG’s Advisory services recorded combined global revenues of US$6.57 billion in 2010, versus US$6.07 billion last year, an 8.3 percent rise in U.S. dollars, and a 5.5 percent increase in local currency terms.
Advisory grew across all three regions with particularly strong growth in the Americas at 10.8 percent, and Asia Pacific at 9.9 percent, as well as good growth of 2.6 percent in the more mature EMA (Europe, Middle East and Africa) market.
D.C.