KPMG Australia has reported annual revenue of
A$1,12bn (US$1.18bn) for the year to 30 June 2012, up 5.3% on the
previous financial year, placing it neck and neck with Deloitte
Australia, which reported A$1.1bn for the year to 31 May 2012.

Deloitte, ranked the fourth largest firm in
the country in 2011, has reduced the gap between second placed KPMG
from a$130m in 2011 to only A$18m in 2012.

In Australia, Deloitte, KPMG and Ernst &
Young (E&Y) have reported similar annual revenues over the past
couple of years and this year’s final pecking order will be decided
when E&Y announces its results in the coming weeks.

In fiscal year 2011, PwC was the largest of
the Big Four in terms of revenue, at just over A$1.4bn, with KPMG
second at $A1,064m, followed by E&Y on A$1,052. Deloitte failed
to break through the A$1bn mark, with A$934m in fee income. PwC is
expected to keep top spot this year.

Advisory growth

The main growth business for KPMG Australia in
the past fiscal year was its advisory practice, which brought in
46%, up 9% from the year before. Audit contributed 35%, a 4%
increase, and tax services contributed of 19% of total fees.

The firm said it did particularly well in
sectors such as mining, oil and gas, healthcare, government and
infrastructure. It appointed 30 new partners and executive
directors during the year, in areas such as M&A advisory,
innovation and healthcare.

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International Accounting Bulletin 2011 Australia Survey