Prosperity

Employment

Our intention is to create fulfilling and meaningful work for all our people, helping them build their careers with KPMG or elsewhere in the private and public sectors. As part of a lifetime of growth and learning, and by developing strong skills and qualifications, KPMG professionals help our clients prosper while also achieving their own personal ambitions.

Following a period of higher-than-usual people turnover after the COVID-19 pandemic ended, we saw this normalize in FY23, reflecting broader talent market conditions. We brought more than 66,000 new hires into our global organization and created nearly 8,000 net-new roles in FY23.

Aligned to our goal of increasing the number of women in leadership positions, across our global organization we increased the percentage of external women hires into leadership roles by 2.4 percent to reach 30.8 percent of total hires.

Overall, KPMG firms hired more than 20,000 graduates, representing more than 30 percent of the total new hires throughout the global organization.

See the PDF for additional data on our hires, leavers and turnover details.

Economic contribution

By stimulating growth in a responsible and sustainable way, we make the difference in the countries and territories in which we operate. Sustainable revenues help promote collective prosperity and enable KPMG firms to grow their teams despite economic and geopolitical uncertainty.

As we grow, so does our ability to strengthen our community support.

For FY23, KPMG reported annual aggregated global revenues of US$36.4 billion¹ — an increase of 8 percent from FY22 (5 percent in US$). Audit revenues grew by 9 percent, Advisory by 7 percent, and Tax & Legal Services by 10 percent. In FY23, KPMG outlined the next phase of its global strategy, highlighting its focus on those client issues that will drive sustainable growth over the next three years. The strategy outlines a US$4 billion collective investment in quality and a wider focus on high impact opportunities, particularly in Technology, Talent and ESG.

We take a responsible approach to tax, have strong governance and policies, and are committed to tax transparency. KPMG firms generate and pay all relevant taxes in the countries and territories in which they operate. Generating and paying taxes is key to how we continue to make meaningful contributions to the communities where KPMG firms operate. These contributions support government functions, public benefits and key infrastructure such as health systems, education and transport networks.

As defined by the UN, we are beginning to look at how KPMG firms’ revenues and headcounts are divided between developing and developed nations and we will be exploring this further.

• Our tax contribution: KPMG firms’ contributions include taxes paid directly, those collected on behalf of governments and those paid directly by partners and employees.
• Tax paid directly (operational taxes): In FY23, Reporting KPMG Firms paid a total of US$2 billion in operational taxes (US$2 billion in FY22), which included employer payroll and social security taxes, non-creditable sales taxes, property taxes, entertainment taxes and other miscellaneous taxes.
• Tax on profits: As a network of KPMG firms, KPMG does not have a requirement to prepare consolidated financial statements. The legal structure of each KPMG firm varies. Many firms are structured as partnerships, defined as ‘flow-through’ for tax purposes, although there are other structures, such as corporate entities that pay corporation tax. Tax laws and reporting requirements also vary by jurisdiction. The characteristics of a partnership are such that the obligation to pay tax on profits falls on individuals rather than the partnership.
• Taxes collected on behalf of governments: With revenue in FY23 of US$36.4 billion, KPMG collects, on behalf of the governments in the jurisdictions where KPMG firms operate, a significant amount of tax, particularly in relation to employee payroll taxes and sales taxes.
• Policies and practices about tax: KPMG International has established policies which apply throughout the global organization to set the standard and expectations for KPMG firms and partner tax affairs. There are also quality and risk management practices in place to help ensure that all tax affairs have been conducted in accordance with relevant local law and regulations, and in harmony with KPMG’s Global Tax Principles.

See the PDF for additional data on our operational taxes paid.

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Innovation

In today’s rapidly changing world, our people create, inspire and innovate every day for clients and ourselves — enabling KPMG firms to collectively embrace new technologies (including generative AI) and successfully undergo meaningful transformation.

In FY23, we entered into a landmark agreement with Microsoft that put AI at the forefront of professional services. This significant expansion of our longstanding global relationship includes a multibillion-dollar, five-year commitment from KPMG to Microsoft’s cloud and AI services. As an early access partner and early adopter of Microsoft’s 365 Copilot, our people continue to be at the forefront of emerging technologies, helping KPMG member firm clients use the AI-based tool and other generative AI technologies to derive increased value and productivity.

Over the past five years across the network, the focus has been on supporting clients’ digital transformation, resulting in KPMG firms’ alliance-enabled sales increasing by 400 percent. Driven by innovative and technology-enabled services, KPMG firms are working with KPMG’s alliance partners to help clients by:

• Leveraging data and the cloud to deliver advanced analytics through KPMG Clara.
• Delivering reimagined and transformed services from Tax & Legal services.
• Transforming and automating sustainability reporting, data intelligence and management while supporting clients in building their understanding of the ESG agenda.

KPMG’s global network of 39 Ignition centers, our state-of-the-art collaboration spaces, supports clients and colleagues across all sectors and markets as they look to innovate and harness technology such as generative AI.

In a world that is constantly changing, we help clients understand why they need to change, what they need to change and how we can help make that change a reality.

Artificial intelligence (AI) is transforming nearly every field of human endeavor and becoming increasingly embedded in all aspects of everyday life for both businesses and individuals alike. As KPMG works to fully harness the power of AI and accelerate adoption, we recognize that advanced technologies can introduce complexity and risks that need to be addressed clearly and responsibly.

We are excited about the opportunities that AI presents but remain equally committed to upholding the ethical standards for AI solutions that align with our Values and professional standards, and that foster the trust of KPMG clients, people, communities and regulators.

KPMG Trusted AI is our strategic approach and framework to designing, building, deploying and using AI solutions in a responsible and ethical way to ensure we can accelerate value with confidence. Learn more about our 24 hours of AI training event that was available to all KPMG colleagues across the organization.

The field of AI is rapidly evolving. As the technology advances and legal, ethical, risk and regulatory standards mature, we will continue to review and evolve our approach as necessary.

Communities

As the pace of change across the globe rapidly evolves, so do societal challenges faced by billions of people. To aid in addressing these challenges, we prioritize our investment in communities and, across the KPMG organization, we enable our people to collaborate on solutions that positively impact those in need. Our 10by30 program aims to help economically empower 10 million disadvantaged young people by 2030 and, in the first two years, we’ve impacted 1 million youth. Through our collaboration with UNESCO, we’ve been able to implement programs around the world to drive education, employment and entrepreneurism across underserved communities. We realize the scale of these societal issues and, looking forward, we plan to accelerate our impact, powered by our people’s dedication and desire to give back.

KPMG directs our charitable and non-profit support toward organizations and initiatives that meet a compelling community need, such as education and lifelong learning, and on programs and initiatives where we can make the most meaningful impact.

In FY23, we invested significantly in sponsorships, fundraising, contributions to the community and donations — using our people’s diverse range of skills to positively impact those in need, while also bringing our collective voice to support those who are marginalized.