Accountancy firms report strong growth
KPMG and Johnston Carmichael report healthy numbers in 2014.
KPMG has recorded global revenues of $24.8bn, representing growth of 6.3 per cent in the year to 30 September 2014. The Americas was the region reporting fastest growth, at just over 10 per cent, while Europe, the Middle East and Africa saw 4.7 per cent and Asia Pacific was relatively sluggish at 3.8 per cent.
The firm's total workforce grew to 162,000 (from 155,000) and it hired 18,000 new graduates worldwide. John B Veihmeyer, chairman of KPMG International, said: "The $600m investment to continuously enhance the quality of the KPMG audit was maintained and extended, and we were proud to win a number of significant audit appointments including American Airlines, Mapfre, ING, Panasonic, Renault and Vale."
Meanwhile, independent accountancy firm Johnston Carmichael has reported double digit growth for the year ended 31 May 2014. Revenue rose 10 per cent to £36.8m and net profit (before members' remuneration) grew slightly from £10.57m to £10.75m, reflecting a heavy level of investment by the firm.
Sandy Manson, chief executive of Johnston Carmichael, said: "The last financial year was one of record investment in our business. We hired more people than ever, taking our total headcount to beyond 600 as we increased the capability of every part of our business."
Corporate finance and the wealth advisory business, Johnston Carmichael Wealth, saw particularly strong growth.