KPMG profits sing despite off-key audits

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Simon Collins, the firm’s former chairman, treated KPMG staff to a performance by Florence and the Machine at the O2 Simon Collins, the firm’s former chairman, treated KPMG staff to a performance by Florence and the Machine at the O2Samir Hussein/Redferns

The British business of KPMG has grown at its fastest rate in a decade and its partners will receive £80,000 more than last year on average, despite the accountancy firm being caught up in the collapse of Carillion.

The Big Four firm made £2.34 billion in the year to September 30, 8 per cent more than last year, while underlying profits before tax rose 18 per cent to £356 million. The increase meant that average pay per partner rose by almost 16 per cent to £601,000.

KPMG is the fourth largest accountancy group in Britain by revenue, after Deloitte, PWC and EY. It employs about 14,500 people in the UK and has 635 partners, each of whom receives a share of profits each year.

KPMG’s…

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  • Economics
  • Investment
  • United States
  • Retail
  • Pop music