KPMG's 11 percent growth rate is off six points from the 17 percent growth rate the firm reported last year. It also lags behind KPMG's fellow Big Five competitors. Arthur Andersen reported a 15.4 percent revenue increase, while Deloitte Touche Tohmatsu and Ernst & Young reported 14.1 percent growth for fiscal 2000.

KPMG's Financial Advisory Services practice led growth at the firm, expanding a whopping 22 percent to $1.1 billion.

Like at D&T, where accounting revenue growth outpaced consulting growth, growth in consulting services at KPMG lagged behind growth in its tax practice. The firm said its consulting revenue rose 11 percent to $3.9 billion, while KPMG's tax and legal services climbed 16 percent to $2.9 billion. Assurance services, which grew by 8 percent, accounted for the bulk of the firm's revenue, at $5.5 billion worldwide. All other services accounted for $100 million.

KPMG's U.S. revenue surged 19.4 percent, propelling the firm's Americas region to $6.6 billion, an increase of 16 percent, according to chief executive Stephen G. Butler. Asia Pacific increased by 20 percent, to $1.2 billion; and the Europe, Middle East and Africa region reported a 4 percent growth rate, to $5.7 billion.

KPMG's partners and professional staff rose to more than 84,600 worldwide this year, up from 79,900 last year. Total personnel increased to 108,000.

-- SmartPros News Staff

Send comments to information@smartpros.com

Back to NewsLine