KPMG Statistics 2026: Revenue, Headcount, Audit Quality

KPMG reported globally aggregated revenues on a continued operations basis of $39.8 billion for the year ended 30 September 2025, the network’s FY25 result. Growth came in at 5.1% in local currency terms and 5.4% in US dollars against FY24, and global headcount rose 1.8% to 276,030.

That headline number carries one caveat. KPMG is a network of legally separate member firms, so the figure is an aggregation the network publishes rather than a consolidated set of audited group accounts. The KPMG statistics below separate the network layer from the member firm layer, then pair both against the regulator inspection results that measure the firm’s work from outside.

Key Takeaways

• Tax and Legal Services carried FY25 growth at 7.5%, ahead of Audit at 6.0% and Advisory at 2.9%.
• The FY25 total sits above the $38.4 billion KPMG reported for the year ended 30 September 2024.
• KPMG UK/Swiss Group reported revenue of £3.6 billion and overall sales growth of 2%, its first combined year.
• The PCAOB placed 8 of the 64 KPMG LLP audits it reviewed in 2025 into Part I of its report.
• The FRC found that 90% of the KPMG UK audits it inspected in 2024/25 required no more than limited improvements.
• Advisory diverged by geography, with KPMG UK/Swiss Group advisory sales down 3% against a difficult consulting and deals market.

Editor’s Choice

• Network revenue, FY25: $39.8 billion, year ended 30 September 2025.
• Global headcount: 276,030 people across KPMG firms.
• UK and Swiss profit before tax: £576 million, up 14% on the prior year.
• Average UK and Swiss partner profit: £880,000 in distributable profit per partner.
• Prior PCAOB cycle: 13 of the 64 KPMG LLP audits reviewed in 2024 landed in Part I.A.
• Big Four inspection benchmark: the aggregate Part I.A rate for the Big Four US firms fell to 20% in 2024.

KPMG Global Revenue by Fiscal Year

• KPMG International announced $39.8 billion in globally aggregated revenues for FY25, the year ended 30 September 2025.
• The FY25 announcement was dated London, 16 December 2025.
• The prior year produced $38.4 billion for the year ended 30 September 2024.
• FY24 growth ran at 5.1% in local currency and 5.4% in US dollars against FY23, matching the FY25 rates exactly.
• KPMG describes the FY25 total as sitting on a continued operations basis, a scope qualifier that most secondary coverage drops.
• The two announcements are $1.4 billion apart in absolute terms.

Source: KPMG International global revenue announcements, December 2024 and December 2025

Two consecutive years at identical published growth rates read as a compiled figure rather than a measured one. The function and region splits carry more analytical weight than the total.

KPMG Revenue Growth by Function

• Tax and Legal Services led FY25 at 7.5% growth, which KPMG attributes to client demand for its AI-enabled managed service and transformation capability, and to clients navigating global tax reform.
• Audit grew 6.0% in FY25, underpinned by continued investments in audit quality and AI capabilities and growing demand for assurance services.
• Advisory grew 2.9% in FY25, the slowest of the three functions for a second consecutive year.
• Tax and Legal Services had grown faster the year before, at 10% in FY24.
• Audit held flat across the two cycles at 6% growth in FY24.
• Advisory accelerated to 2% growth in FY24.

Deceleration in tax work matters more than the advisory recovery, because tax and legal was the function KPMG had been leaning on hardest. Compliance-driven demand of this kind shows up across our regtech spending data as well, where regulatory change reliably pulls professional services revenue with it.

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Recent Developments

• 13 August 2026: The PCAOB published six new inspection reports covering BDO USA, Deloitte and Touche, Grant Thornton, KPMG LLP, PricewaterhouseCoopers and Ernst and Young.
• 21 May 2026: KPMG LLP’s 2025 inspection report placed 8 of the 64 audits reviewed into Part I.A.
• 21 May 2026: The 2025 deficiencies primarily related to the firm’s testing of controls over and substantive testing of inventory and other assets.
• 12 June 2026: PricewaterhouseCoopers LLP’s report in the same cycle carried a later report date.
• 22 July 2026: Ernst and Young LLP’s report was the last of the six to be dated.

KPMG Revenue Growth by Region

• The Americas led FY25 regional growth at 5.6%.
• Asia Pacific and EMA both landed at 4.7% in FY25.
• KPMG framed the FY25 regional result as growth across all regions amid challenging global market conditions.
• EMA had been the fastest-growing region a year earlier at 8% in FY24.
• The Americas grew 4% in FY24, the middle of the three.
• Asia Pacific was the FY24 laggard at 1% growth, and it more than quadrupled that rate in FY25.

Regional mix reversed between the two years. EMA carried the network in FY24 then halved its rate in FY25, while Asia Pacific went from near-stagnant to matching Europe.

KPMG Global Headcount

• KPMG firms employed 276,030 people at the FY25 reporting date.
• Headcount growth was reported at 1.8% over FY25.
• The FY24 figure stood at 275,288.
• Net additions across the year came to roughly 742 people.
• KPMG’s FY24 disclosure noted targeted hiring in specialized roles.

Source: KPMG International global revenue announcements, December 2024 and December 2025

A workforce that large moving under 1% in a year is close to flat once attrition and hiring net off. Set against a 5.1% revenue increase, that points to pricing and mix rather than capacity as the growth driver.

KPMG UK and Swiss Group Financial Results

• KPMG UK/Swiss Group reported revenue of £3.6 billion for its year ended 30 September 2025.
• Overall sales growth came to 2% on the previous year.
• Profit before tax reached £576 million, which the firm attributed to careful cost management in response to the economic cycle.
• Profit before tax was up 14% on the prior year.
• This was the first year of combined financial reporting following the merger of the UK and Swiss businesses on 1 October 2024.
• Comparatives are stated on a pro forma basis for revenue, sales, profit per partner and profit.

Source: KPMG UK/Swiss Group annual results, January 2026

Worth noting: KPMG UK/Swiss Group’s FY25 numbers are the first combined set after the 1 October 2024 merger, and the firm states that FY25 versus FY24 comparatives for revenue, sales, profit and profit per partner are pro forma. Year-over-year percentages here describe a constructed baseline rather than two audited reporting periods.

KPMG UK and Swiss Business Line Growth

• Tax and Legal led the member firm at 6% sales growth, in response to client demand for advice on complex regulatory changes.
• Audit grew 5% in the same period.
• Advisory fell, with a decrease of 3% against the backdrop of a difficult consulting and deals trading environment.
• Those three movements produced overall sales growth of 2%.
• Colleague bonus spend across the group rose 18%.

Source: KPMG UK/Swiss Group annual results, January 2026

This is where the network headline and the member firm diverge. Advisory grew across the network in the same year the UK and Swiss business shrank. A reader treating the network figure as a proxy for one market would get it backwards.

The same caution applies to PwC, whose network figure likewise blends markets moving in opposite directions.

KPMG PCAOB Inspection Results

• The PCAOB reviewed 64 KPMG LLP audits in its 2025 inspection.
• Of those, 8 were included in Part I.A because of the significance of the deficiencies identified.
• That is 12.5% of the audits reviewed.
• The 2025 findings centered on testing of controls over and substantive testing of inventory and other assets.
• A year earlier, the regulator reviewed 64 KPMG LLP audits and included 13 in Part I.A.
• The 2024 cycle therefore ran at roughly 20.3%.
• The 2024 findings centered instead on testing of revenue and related accounts and allowance for credit losses.

Source: PCAOB inspection reports on KPMG LLP, 2024 and 2025 cycles

PCAOB inspectors work from a risk-based sample, not a random one. These ratios therefore describe the audits the regulator chose to examine, not KPMG’s book as a whole. Direction of travel remains the best externally verified signal on the firm’s US audit work.

PCAOB Deficiency Rates Across US Audit Firms

• Across all inspected firms, the aggregate Part I.A deficiency rate decreased to 39% in 2024, down from 46% in 2023.
• The Big Four US firms landed at 20% in 2024, down from 26% in 2023.
• The six US global network firms recorded 26% in 2024, from 34% in 2023.
• Non-affiliated firms held steady, decreasing to 52% in 2024 compared with 53% in 2023 across the eight inspected annually.
• Triennially inspected non-affiliated firms moved from 67% in 2023 to 61% in 2024.
• Triennially inspected global network firms moved from 35% in 2023 to 26% in 2024.

By the numbers: The PCAOB reported that the Big Four US firms, which as of December 31, 2024 collectively audit approximately 80% of the market capitalization of public companies listed on exchanges, cut their aggregate Part I.A deficiency rate to 20% in 2024 from 26% in 2023. Concentration is what gives those six points their weight.

The Big Four US firms collectively audit approximately 80% of the market capitalization of public companies listed on exchanges, measured as of December 31, 2024. Improvement at four firms therefore moves the reliability of most of the listed market, which is the reason these percentages are worth more attention than any single revenue line.

KPMG UK Audit Quality Inspection Scores

• The FRC found 90% of the KPMG audits it inspected in 2024/25 required no more than limited improvements.
• Within that sample, only two audits were graded as requiring no improvements, one of them an FTSE 350 audit.
• The prior cycle sat at 89% in 2023/24.
• KPMG had dropped to 74% in 2022/23 after 84% in 2021/22.
• The five-year series starts at 59% in 2020/21.
• The FRC noted that findings contributing most to this year’s results related to the audit of estimates in the valuation of investments and the audit of consolidation and other journals.

The series moved 31 percentage points across five inspection cycles. None of that movement appears anywhere in the firm’s own revenue reporting, which is what makes the regulator series the more useful performance record.

UK Tier 1 Audit Quality Benchmark

• Across the six Tier 1 firms, 86% of inspected audits were categorised as good or limited improvements required in 2024/25, against 74% in 2023/24.
• The two cycles before that sat at 76% in 2022/23 and 74% in 2021/22.
• The series opens at 70% in 2020/21.
• The FRC described the 2024/25 result as a significant step forward, forming part of a continued trend of significant improvement over a five-year period.
• Five out of six Tier 1 firms achieved positive audit quality outcomes on 90% or more of their audits.

Why it matters: KPMG’s UK inspection outcome of 90% in 2024/25 sits above the 86% Tier 1 aggregate the FRC reported for the same cycle, and the regulator noted that five of the six Tier 1 firms cleared 90%. The firm sits inside a tightly clustered group rather than distinguishing itself within it.

FRC Inspection Volume and Firm Coverage

• The FRC reviewed 104 individual audits across the Tier 1 firms in 2024/25, against 92 in 2023/24.
• That sample included 47 audits of FTSE 350 entities, up from 39 the year before.
• The FRC also flagged a risk that the gap between audit quality delivered by Tier 1 firms and other firms in the public interest entity market increases.

Source: FRC Annual Review of Audit Quality, July 2025

Sample size limits every FRC percentage here. Read the score as a supervisory signal, not a population statistic.

KPMG Investment Commitments

• KPMG announced a 3-year $4.2 billion investment plan in 2023 as part of its Collective Strategy, focused on technology, talent, and sustainability.
• The network reported over $1.7 billion invested across KPMG in FY24, with a specific focus on technology and AI, talent, and ESG.
• The FY25 announcement ties the same programme to growth across KPMG’s multidisciplinary organization.
• KPMG links the FY25 audit result specifically to continued investments in audit quality and transformative AI capabilities.

Source: KPMG International global revenue announcements, December 2024 and December 2025

Investment figures of this kind are firm-reported and unaudited, so they describe intent and allocation rather than a verified outlay. Much of the demand that spending targets is compliance-driven, a pattern visible in the crypto KYC compliance data.

KPMG Statistics by Reporting Layer: Network Versus Member Firm

• KPMG International Limited coordinates a global organisation of independent professional services firms providing Audit, Tax and Advisory services in 138 countries and territories.
• Each KPMG firm is a legally distinct and separate entity and describes itself as such.
• The network total is published as globally aggregated revenues on a continued operations basis for KPMG firms, not as consolidated group accounts.
• KPMG UK/Swiss Group was formed by the 1 October 2024 merger of KPMG UK and KPMG Switzerland, so member firms report on their own calendars and bases.
• Inspection reports attach to one member firm, so the PCAOB names KPMG LLP rather than the network.

The practical consequence for anyone using these KPMG statistics is that no two layers are directly comparable. A network revenue figure, a member firm’s audited accounts, and a regulator’s inspection sample answer three different questions, and the most common error in coverage of the Big Four is treating them as one series. Compliance-heavy sectors run into the same measurement problem, which shows up clearly in the cryptocurrency compliance risk data where firm-level and market-level figures rarely line up.

Is KPMG still one of the Big Four?

Yes. The PCAOB names KPMG LLP among the US firms it inspects and groups it with the Big Four, whose aggregate Part I.A deficiency rate fell to 20% in 2024. The FRC likewise places KPMG among its six UK Tier 1 audit firms, a group that also includes Forvis Mazars and BDO. On scale, the network’s $39.8 billion in FY25 aggregated revenue and 276,030 staff keep it in the same bracket as its three closest peers.

Why did KPMG’s headcount growth slow to 1.8%?

KPMG has not published a breakdown explaining the rate, so the honest answer is that the published figures show what changed rather than why. What the disclosures do show is uneven demand: Advisory grew 2.9% globally in FY25 while the UK and Swiss advisory business declined 3% against a difficult consulting and deals trading environment. KPMG also described industry-wide lower levels of attrition as a cost pressure it was managing, which reduces replacement hiring independently of new demand.

Conclusion

KPMG’s FY25 disclosures put the network at $39.8 billion in globally aggregated revenue with 276,030 staff, growth of 5.1% in local currency against a workforce that expanded 1.8%. The split beneath that total is the more useful record. Tax and legal work decelerated from 10% growth in FY24 to 7.5% in FY25, and the Americas finished FY25 0.9 percentage points ahead of EMA.

The regulator data moved on its own schedule. KPMG LLP went from 13 of 64 reviewed audits in Part I.A to 8 of 64, and KPMG UK reached 90% of FRC-inspected audits requiring no more than limited improvements, against 59% five cycles earlier. Of all the KPMG statistics on this page, those two series carry the most weight for anyone benchmarking the firm, because they are measured by someone other than KPMG.