Ahmed Abu-Sharkh, Country Senior Partner at KPMG in Qatar
Doha: KPMG International has announced annual aggregated revenues for KPMG firms globally of $32.13bn for the fiscal year (FY) ending September 30, 2021, reporting a 10 percent increase in US dollar revenues from FY2020. This follows an extensive period of investment and focus on priority services and solutions addressing the challenges faced by businesses across the globe.
Locally, KPMG in Qatar continued investing in people and technology, and expanded new lines of business (predominantly digital advisory including digital transformation, innovation, ESG and cybersecurity) which yielded double digit growth compared to the previous year.
Significant growth was also achieved across the business divisions with Advisory and Tax growing over 24 percent each. Audit maintained its top position in the market and achieved around 1.5 percent growth despite a challenging year. As many as 168 new clients were acquired in FY2021.
Ahmed Abu-Sharkh, Country Senior Partner at KPMG in Qatar stated: “In FY2021, KPMG has proven great resilience in the face of uncertainty, with the support of all the phenomenal staff across all business areas. Becoming agile and managing uncertainty with calculated decisiveness led us to securing creative strategies around digital transformation, social responsibility, and implementing environmental, social and governance (ESG) initiatives throughout the organisation. Our exceptional progress thus far has driven us to become more optimistic and confident in driving success and trust in the services that we provide as we support our clients in achieving their goals”.
Bill Thomas, Global Chairman & CEO at KPMG International said: “2021 was a strong year for KPMG. We achieved outstanding growth in a challenging business climate, unveiled KPMG: Our Impact Plan to help drive sustainable change across our organisation, and launched a new global ESG plan to support our clients in achieving their goals of addressing the most existential challenges — while making a difference in the world”.
He added: “I am thankful to our talented teams who have worked tirelessly, in difficult circumstances, to ensure we met the rapidly evolving needs of our clients. We have focused first and foremost on enhancing quality and building trust. We have also worked with our leading ecosystem of alliances to support business and technology transformation. This year’s financial success is the result of KPMG firms coming together to chart a new trajectory for the global organisation with a commitment to a bold ambition to become the most trusted and trustworthy professional services firm”.
During FY2021, the global organisation committed to a more than $1.5bn investment to focus on a multi-year program to accelerate the delivery of its global ESG plan and solutions. KPMG is in its third year of a $5bn commitment to digital transformation, focused on purpose-driven technology, people and innovation.
The organisation continued to invest significantly as part of its $1bn investment in Tax and Legal technology to enable solutions like KPMG Digital Gateway.
