KPMG’s combined revenues for fiscal year 2008 represent growth of 14.5 percent in U.S. dollars and growth of 8.4 percent in local currency terms.
“All of our businesses recorded solid growth last year, despite the deepening and acceleration of the global financial crisis in the last quarter of KPMG’s fiscal year,” said Timothy P. Flynn, Chairman, KPMG International.
Across KPMG’s geographic regions and member firms, the Asia Pacific region grew fastest in 2008, while Russia saw revenues rise 64.5 percent in U.S. dollars. In India, revenues jumped 48.9 percent, in China revenues rose 25.8 percent, and in Africa revenues increased 16.5 percent, all in U.S. dollars.
Revenues in 2008 were strong across all three of KPMG’s core businesses. For Audit services, where a faster rate of overall growth was recorded this year than in 2007, global revenues increased 13.9 percent to US$10.69 billion.
KPMG’s Advisory services also achieved growth in all regions, with revenues increasing 13.0 percent to US$7.27 billion for the year.
Revenues for Tax services rose 18.3 percent to US$4.73 billion, again on the basis of strong performance in all regions globally.