Revenue of KPMG worldwide by region 2010-2023

KPMG generated approximately 15.7 billion U.S. dollars in revenue from the Europe, Middle East, Africa and India (EMA) region in 2032. The revenue from this region contributed to the accounting firm achieving annual revenue of 36.4 billion U.S. dollars worldwide in 2023.

Europe a key market for KPMG

Compared to 2022, the revenue generated in the Asia Pacific region decreased by three percent in 2023 for KPMG. Furthermore, the revenue generated in the EMA and Americas regions increased by seven percent respectively. The accounting firm – also known as an audit firm or professional services network – provides its clients with services in three main areas: audit, advisory, and tax. In 2023, the combined revenue from the firm’s audit and advisory service lines generated almost 30 billion U.S dollars worldwide. Regionally, growth in the number of clients seeking auditing advice in Europe led to revenue from the auditing service line in the EMA increasing to around 12.6 billion U.S dollars in 2023.

The decade of the merger

The accounting industry experienced a period of significant change during the 1980s, as eight firms sought ways to gain advantages in new international markets. Peat Marwick International (PMI) was one member of the Big Eight looking for ways to meet the growing global demand for professional services; Klynveld Main Goerdeler (KMG) was a smaller firm operating outside of the Big Eight and struggling to make an impression. In 1987, the two firms agreed to a merger that made strategic sense to both and immediately made the newly formed KPMG the largest accounting firm in the world. As competition for international clients intensified, two further mega mergers took place at the end of an extraordinary decade in the accounting industry, as the Big Eight became the Big Six in 1989.