Accounting firm KPMG reported gross revenues of $32 billion for the 2021 fiscal year, setting a company record with a 10% growth in revenues.
The company’s advisory arm distinguished itself with a 17% rise in revenues, showing the high importance of deal making in a pandemic climate of consolidation and concentration.
“Growth was driven in large part by the success of our transaction and deal advisory services, as well as continued demand for innovative technologies and advanced cyber security solutions,” noted the company.
Consultancy firms had already reported record levels of deal-making with total merger and acquisition deal value topping $1.2 trillion in 2Q21, according to PwC.
The company’s profits soared with $13.7 billion in advisory revenue, followed by $11.5 billion in audit revenues and $7 billion from its tax and legal business.
KPMG also committed $1.5 billion to its environmental, social and governance plan and solutions, marking a new focus into the future.