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Making a positive social and economic impact

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Sustainable Development Goals:

Being a good corporate citizen is something KPMG takes seriously. We believe it is our responsibility to help create a more prosperous world and continue contributing to the overall economic and social well-being of the world’s population.

We do this by bringing together our multi-disciplinary skills to drive economic growth and organizational resilience in a sustainable and responsible way. We are a significant employer in the countries and territories in which we operate. We are responsible payers of all applicable tax. We drive social impact by helping to stimulate digital and technological advancements through innovation and by leveraging our global reach.

Our continued focus on bringing education and opportunity together with responsible economic contribution is helping to empower the communities in which we live and work.

“Today’s rapidly evolving environment continues to demand quality services delivered with speed and scale. Between now and 2026, KPMG is collectively investing US$4 billion in our people, technology and ESG, with ongoing commitment to develop, implement and uphold quality and the ethical standards of our industry. We remain steadfast in our focus to build a more agile and connected KPMG, fit for the future.”

Gary Wingrove

Chief Operating Officer

KPMG International

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.

Our approach to tax disclosures

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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Revenue by function
Revenue by region
FY23 $36.4 Gross revenues
US$ in billions
US$ in billions
Audit
$12.6
Tax & Legal Services
$7.9
Advisory
$15.9

EMA = Europe, Middle East and Africa, including India
FY23: 1 October 2022 — 30 September 2023

The financial information reported represents combined information of the independent KPMG member firms that perform professional services for clients, affiliated with KPMG International Limited. The information is combined here solely for presentation purposes. KPMG International Limited performs no services for clients nor, concomitantly, generates any client revenue.

FY23 $36.4 Gross revenues
US$ in billions
US$ in billions
Americas
$14.6
Asia Pacific
$6.1
EMA
$15.7

EMA = Europe, Middle East and Africa, including India
FY23: 1 October 2022 — 30 September 2023

The financial information reported represents combined information of the independent KPMG member firms that perform professional services for clients, affiliated with KPMG International Limited. The information is combined here solely for presentation purposes. KPMG International Limited performs no services for clients nor, concomitantly, generates any client revenue.

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.

Significant alliance-led growth

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.
Ignition centers

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.

Case study

Unleashing the potential of offshore wind: KPMG in the UK

The UK hopes to become a leader in the global offshore wind sector — a key contributing factor helping to drive the government-supported decarbonization journey by 2050.

A leading energy trade group approached KPMG to help them bring together key stakeholders from government, academia and the offshore wind industry to develop a new Industrial Growth Plan (IGP) to guide the expansion of the UK offshore wind sector. The client sought KPMG’s support to drive alignment on key strategic areas and help build a guiding vision to achieve its 2050 ambition.

Led by the KPMG in the UK Ignition team, the team of professionals succeeded in producing a first draft of the framework and plan within one day. The group also developed potential cross interventions that both the industry and government could jointly invest in and build the Future of the UK’s Offshore Wind Industry.

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KPMG Trusted AI

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.

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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.

Case study

Adopting technology with trust: KPMG in Colombia

Banks play a pivotal role supporting economic growth and serve as the backbone of the global economy. Grupo Bancolombia, Colombia’s largest commercial bank, turned to KPMG in Colombia with an ambitious agenda to improve their operations’ efficiency and quality results while also ensuring better risk mitigation and regulatory compliance.

KPMG worked side-by-side with Bancolombia on a comprehensive robotics process automation (RPA) business case that evaluated the use of robotics to automate processes within credit review, collections, clearance and settlement, capital markets and international business. As a result, KPMG professionals in Colombia successfully developed and implemented a comprehensive RPA strategy, launching more than 200 robots — or bots — into the bank’s operations.

At a time when risk and compliance evaluation for banks is essential for maintaining the integrity of banking operations and building consumer trust, this state-of-the-art automation software has not only improved efficiency but also significantly enhanced data quality, strengthening the bank's decision-making capabilities and improving its risk and compliance performance.

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People of KPMG

Troels's portrait

Troels Steenstrup Jensen

KPMG in Denmark

Problem solving is my passion and it is what I bring to my role as the Head of KPMG’s Global Quantum Hub, where I feel I can make the difference. With a PhD in quantum mathematics, emerging technologies and algorithmic complexity hold a special place in my heart.

According to Gartner, nearly 40 percent of large companies are expected to create quantum computing initiatives by 2025. In security for example, quantum represents one of the biggest shake-ups of digital infrastructure and cybersecurity we’ve ever seen — creating both a huge opportunity for more effective information protection and a challenge for clients, many of whom will likely see classic technology become rapidly obsolete.

Quantum computing is not an easily accessible subject for many, so what I bring to the table is an ability to translate complex topics into everyday business insights — merging my background in finance, data science, mathematics and technology, with my ability to help clients better understand how emerging technologies are impacting their business and identifying possible opportunities and risks.

In banking, telecommunications and other industries that carry sensitive and confidential data, quantum computing is playing a key role in securing data infrastructure and accelerating risk calculations, giving the institutions that embrace the technology a real competitive advantage. Meanwhile in logistics, more immediately accessible ‘quantum-inspired optimization’ (where quantum calculations are simulated on classic hardware) is helping to revolutionize a number of logistical challenges such as vehicle routing plans.

A big part of my role is to upskill my colleagues from across the KPMG network, helping our people to better understand the technology, its applications and implications, so that our organizational knowledge of quantum is expanded to meet the growing demands of our clients.

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Communities

Our commitments:

  • Support education and lifelong learning
  • Provide UNESCO with pro bono resources for the Global Education Coalition

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.

10by30: helping to economically empower disadvantaged young people

Our 10by30 program aims to help economically empower 10 million disadvantaged young people by 2030. 10by30 includes bespoke, local programs created and run by individual KPMG firms, as well as broader network-wide initiatives that address the three key themes that we believe are key to improving the life chances of young people:

Education

Supporting education institutions and upskilling teachers.

Employment

Helping young people to access gainful employment.

Entrepreneurism

Equipping young people with skills they need for the future.


In its first two years, KPMG’s 10by30 program focused on helping underserved communities across the globe, reaching 1 million beneficiaries, with further plans to accelerate the program through collaboration and increased levels of local activity. Given the diverse needs of different countries and communities, each KPMG member firm tailors its program to enable maximum impact.

People of KPMG

Zhang's portrait

Chi Zhang

KPMG China

By helping to create employment pathways for disadvantaged youth across China, I am making a difference in my community.

I grew up during a period of economic reform and my empathy for the children of today living in underdeveloped areas drove me to pursue my career in sustainable development. I’ve witnessed the evolution over the past 20 years in the work being done and am grateful that the value of sustainability is being recognized as essential to building longevity.

In 2022, KPMG announced its global 10by30 strategy to help economically empower 10 million disadvantaged young people around the world by 2030 through education, employment and entrepreneurship opportunities. This opened the door to help transform our education programs in KPMG China, allowing us to focus on equipping students with future-ready skills and school-to-work transition support, better preparing them for their future.

We realized our programs were mostly focused on in-depth support for individual students, such as intensive training or mentorship for a small group of young people over time. However, the ability to reach large numbers of students was limited. With this in mind, our aim soon became to find the sweet spot of striking the right balance between scale and impact.

We established new relationships with NGOs that were experienced in delivering quality services, and co-designed programs that could create meaningful impact while also reaching a greater number of students.

All of this has only been possible through the incredibly diverse, rich and valuable skills of my colleagues and the close collaboration with teams from Human Resources, Organizational and Talent Development, and IT. Our people are also volunteering from across the Chinese firm on curriculum development, training delivery, internships, mentorships and more. In FY23, we were able to reach over 73,000 students, quadrupling our reach from the previous year.

For us, it’s not just the quantity of students we reach but also the quality of the impact we can collectively have on individuals’ lives by leveling the playing field and doing what we can to help set them up for a brighter future.

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A significant community investment

We are proud to invest in the communities we live and work in through financial and non-financial donations throughout our global organization, supporting organizations or activities that have a clear charitable or community benefit.

In FY23, our total community investment increased by 22 percent to US$181 million, with volunteering contributions rising by 31 percent. The number of pro bono and volunteer hours our people devoted to community activity also grew by 30 percent to 806,000 — with pro bono hours up by 30 percent. We aim to further increase the number of volunteer hours, with an increased focus on activities that will deliver greater impact on communities and on fostering the specific skills required to progress our 10by30 strategy.

See the PDF for additional data on our community investment value and hours.

Case study

Advancing career opportunities for women in tech: KPMG in Mexico

As a digital leader in professional services, KPMG is well placed to help close the gender gap in technology and inspire the next generation of women IT leaders in KPMG and throughout the industry. IT’s Her Future is an expansive program with a range of initiatives focused on helping girls and women from diverse, underserved communities acquire technical and other essential skills to find gainful employment. KPMG in Mexico, in collaboration with Fundación Ozaru, launched its local IT's Her Future initiative in 2023.

In Mexico, only three out of 10 women study science, technology, engineering and mathematics (STEM), but there are close to 20,000 vacancies in the technology sector. Aligned with KPMG’s 10by30 strategy, IT's Her Future aims to help address this disparity in Mexico by introducing more women to STEM subjects and technology and giving them the training and confidence to seek employment in the IT sector.

In 2023, participants in the inaugural program collectively received 180 hours of technical training on data science and 880 hours of soft skills training to help develop their employability. Fifty KPMG volunteers worked with the women one-on-one, providing them with tailored life coaching and career mentoring.

The impact was further increased by KPMG in Mexico’s collaboration with Education First, through which women who showed strong performance and potential were awarded an additional six month scholarship to improve their English.

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In line with our Values, we collectively work together to continually expand our reach in helping to foster transparency on our impact and progress. In FY23, more than 1 million young people were directly impacted through KPMG activity, volunteering or funding as part of our 10by30 programs across the globe.

We’re continuing to strengthen our global collaboration with UNESCO and supporting gender diversity through KPMG member firm initiatives such as IT’s Her Future.

We view and measure our work through three different levels of impact, which are aligned with the Business for Sustainable Impact (B4SI) Community Investment Framework:

Connect

Activities that reach a higher number of people but have lower level of impact, for example delivery of online courses or resources.

Engage

Activities that provide medium levels of reach and impact, working with a larger group but with an element of personalized support, for example workplace visits, group mentoring.

Transform

Activities that tend to have a high level of impact but will likely reach fewer people due to the increased resourcing needed for delivery, for example one-to-one mentorships.


Currently, 80 percent of the people we reach are via ‘Connect’ activities but we continue to consider and address the mix of activities to help ensure we realize our 10by30 ambition.

Connect

Preparing young people for the AI revolution

KPMG Australia

In July 2023, KPMG and Microsoft announced a significant expansion of their global relationship, which included an agreement to explore and participate in joint opportunities to drive social and community impact.

In Australia, Microsoft and KPMG Australia have created an AI skilling program — AI Amplified — by partnering with Year13 (an organization dedicated to enhancing the school-to-work transition for young people by empowering them to discover meaningful career pathways and to learn fundamental life skills).

AI Amplified aims to provide free, equitable access to AI learning content to help foster AI fluency for future learning and work across all industries. It’s targeted at young people and those who are currently under-represented in the technology sector.

Microsoft’s 2023 Annual Work Trend Index reports that working alongside AI will be as everyday as using the internet — and that everyone will require new core competencies, not just those in technical roles or AI experts. This shift will require affordable, scalable, accessible courses that support everyone, with a focus on young people and women, in building skills and confidence in emerging technologies such as generative AI.

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Engage

Bridging the gap between education and work

KPMG in Spain

For the past 10 years, KPMG in Spain has been running the KPMG Objetivo Empleo (KPMG Employment Initiative) project, which supports young people’s job placement as they complete their vocational training. The program works with several training colleges and supports KPMG volunteers sharing their experience and knowledge with the program participants.

The goal of the program is for students to experience a real-work environment, identify their strengths and areas for improvement and build their confidence in their job interview skills, all serving as a stepping stone for starting their career and finding their first full-time job.

Through the program, students receive: a workshop on job search techniques, an opportunity to work one-on-one with a Vocational Training and Labor Guidance teacher, simulated online job interviews led by KPMG volunteers, and a professional skills assessment led by the firm’s Talent Acquisition team, where students gain experience going through KPMG’s role selection process.

In 2023, the program assisted 800 students with their job search by introducing them to see the variety of roles available at KPMG and helping them to enhance and strengthen their skills.

Since its inception, the initiative has helped over 3,000 students supported by almost 800 KPMG volunteers.

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Transform

Making cybersecurity a career for all

KPMG in India

As the digital economy grows, organizations are becoming more vulnerable to cyberattacks — but there is a shortage of skilled professionals to fill open positions in this crucial area. According to Cybersecurity Ventures, there will be 3.5 million cybersecurity jobs available globally by 2025, representing a 350 percent increase over eight years — compounded by a lack of gender diversity in the cybersecurity workforce.

KPMG in India has collaborated with Microsoft’s cybersecurity skilling program, CyberShikshaa (Hindi for ‘cyber education’), to help close the cybersecurity skills gap and create a more inclusive and diverse workforce.

Working with community colleges across the country, the initiative aims to provide practical experience, mentorship and group coaching sessions for traditionally excluded groups, particularly underserved young women who are starting their careers.

KPMG in India is running mentoring and group coaching sessions, both in person and virtually, across 13 cities. With a number of successful students being hired, the initiative is helping to advance cybersecurity skills and generate employment opportunities.

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Making meaningful differences collaborating with UNESCO

To help drive education transformation across the globe, KPMG has continued to build strong collaboration with UNESCO, enabling our people to collaborate on solutions that positively impact those in need.

Collaboration spotlight

Facilitating inclusive learning opportunities with UNESCO

Since 2020, KPMG has been a private sector founding partner of the UNESCO Global Education Coalition, bringing together a number of partners to act as a collective catalyst to facilitate inclusive learning opportunities for children and youth — building on the shared commitment toward the United Nations Sustainable Development Goal 4 (ensure inclusive and equitable quality education and promote lifelong learning opportunities for all).

KPMG has continued to build strong collaboration with UNESCO, with an ongoing commitment to helping drive education transformation across the globe.

“Education is a vital tool for building wealth and equality and, through our partnership with KPMG and others, the UNESCO Global Skills Academy is making great strides to boost opportunities for younger members of society. With its in-depth understanding of the labor market, and the energy and enthusiasm of its volunteers, KPMG is a valuable partner and will help us reach our ambitious goals.”

Borhene Chakroun
Director, Division for Policies and Lifelong Learning Systems, UNESCO

UNESCO Global Skills Academy

Along with a number of other partners, KPMG International is helping to globally scale the UNESCO Global Skills Academy (GSA), which provides access to training opportunities to help increase employability and resilience in a changing labor market. Initially focused on funding a labor market skills-gap analysis, KPMG International’s support aims to drive increased investment toward essential skills that will help to create opportunities for those young people at risk of being left behind.

The GSA, along with its private and strategic partners, aims to help 10 million youth and adult learners from around the world to build skills required for improved employability and resilience by 2029. While separate, the GSA’s goal complements and aligns with our KPMG global 10by30 strategy by offering a range of training and mentoring opportunities focused on skilling, upskilling and reskilling, and tailored to a fast-evolving labor market.

KPMG International is now working to implement and activate activities on the ground to achieve the greatest impact.

Mentoring in India

Under the scope of the UNESCO Global Skills Academy, KPMG in India piloted an employment mentorship program for disadvantaged young people, aimed at supporting young graduates (aged 18-25) as they enter India’s labor market.

With a strong focus on equal gender representation, and on enrolling those who would not otherwise have the means to participate, the program paired 100 KPMG in India mentors with 100 graduates, offering guidance and advice to help make them ‘job ready.’

Working together, UNESCO and KPMG are now jointly developing the strategy for expansion of our mentoring and employability skills activity. Our approach has been powered by our people’s desire to give back to their communities and help provide vital employability skills for the next generation.

Ukrainian secondees

In FY22, two secondees from the KPMG firm in Ukraine went to work on education initiatives at UNESCO. The secondment was extended for a year, and they continue to contribute their skills, expertise and experience to initiatives helping to ensure continuity of the education system and recovery strategies. With this secondment, KPMG and UNESCO remain committed to helping the Ukrainian education system to rebuild and become a resilient education system with a future-ready workforce that can help with recovery.

Report hub

Download our reports for more detail on KPMG activities this year, and in previous years.

report

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Throughout this content, “we”, “KPMG”, “us” and “our” refers to the global organization, to KPMG International Limited (“KPMG International”), or to one or more of the member firms of KPMG International Limited, each of which is a separate legal entity.

“Reporting KPMG Firms” means KPMG firms in 20 large countries and territories, including member firms whose senior partner is also a Global Board member. These countries and territories are Australia, Brazil, Canada, China, France, Germany, India, Ireland, Italy, Japan, Mexico, the Netherlands, Poland, Singapore, South Africa, South Korea, Spain, Switzerland, the UK and the US.

KPMG International Limited provides services and support to, or for the benefit of, KPMG firms and does not provide professional services directly, or indirectly, to clients. Professional services to clients are exclusively provided by KPMG firms who remain solely responsible for and liable in respect of these services.

KPMG refers to the global organization or to one or more of the member firms of KPMG International Limited (“KPMG International”), each of which is a separate legal entity, and/or to KPMG International Limited. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. For more detail about our structure please visit kpmg.com/governance.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

Footnotes:

1 The financial information reported represents combined information of the independent KPMG firms that perform professional services for clients, affiliated with KPMG International Limited. The information is combined here solely for presentation purposes. KPMG International Limited performs no services for clients nor, concomitantly, generates any client revenue.