KPMG member firms across the Middle East, South Asia, Caucasus, and Central Asia (MESAC) region have reported revenue growth of 19.1% in local currency terms for the fiscal year ending 30 September 2024 (FY24).

This growth was driven by double-digit increases across the audit, tax, and advisory functions.

Meanwhile, globally aggregated revenues for KPMG firms amounted to $38.4bn in FY24, growing 5.1% in local currency and 5.4% in US dollars from the prior year.

The MESAC region’s headcount stood at more than 12,500 at the end of September 2024, with the addition of more than 3,500 individuals, including 91 partners and directors, during the year.

The senior appointments within the MESAC member firms have enhanced KPMG’s service capabilities in diverse areas including digital, AI, cybersecurity, and sustainability.

KPMG focused on emerging technologies and AI has been a key driver in its growth and service quality improvement.

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Notably, KPMG Kuwait has recorded an increase of nearly 11% in its workforce size during FY24.

The firm’s promotion rate reached 28%, reflecting its commitment to capability building and service delivery at scale.

Additionally, KPMG has enhanced its corporate social responsibility efforts. The launch of the KPMG Network of Women (KNOW) stands out as a significant initiative aimed at creating a supportive community for women in business.

KPMG MESAC region chairman and KPMG Kuwait managing partner Dr Rasheed Al-Qenae said: “FY24 has been an important year as we continued to assist clients navigate a dynamic environment, made meaningful positive impact, and invested for the future.

“We also announced significant integration plans to combine the two largest businesses within the MESAC region to provide greater scale, specialisation, and further growth potential, with considerable progress made to date.

“A series of programmes also provided exciting learning and advancement opportunities for our people. Looking ahead, we will continue leveraging KPMG’s multidisciplinary model, supported by our core values as the guiding system, to keep up our efforts to build a better ecosystem for our clients, our employees and the society as a whole.”