KPMG MESAC achieves remarkable growth in FY23

TDT | Manama                                                      

The Daily Tribune – www.newsofbahrain.com

KPMG member firms across the in the Middle East, South Asia, and Caspian (MESAC) region grew by an aggregate of 22.4% for the financial year ending 30 September 2023 (FY23), with double digit growth achieved across all the three core functions of Audit, Tax and Advisory.

Driven by Technology related Advisory services including AI, Low-Code, Cloud, and other services pertaining to Digital Transformation, combined with ESG and other services across the Risk Consulting and Deal Advisory service lines including - project finance, deal advisory, managed services, forensic, dispute advisory and transfer pricing; the Advisory revenue grew by more than 30% over the prior year.

The firm made a significant investment in talent across the region, with over 4,200 people being hired across the region including 78 partners and directors.

Bolstering service delivery As of FY 2023, the firm’s combined talent pool exceeds 11,400 professionals and partners.

This also helped bolster their service delivery, resource mobilization and delivery capabilities across a range of sectors including – Financial Services, Infrastructure, Government, Healthcare, Defense and the Energy and Natural Resources industries.

Strategic alliances both at a regional and national level have reinforced capabilities and capacity in terms of delivery networks their regional corridors.

Commenting on the results, Dr. Rasheed Al-Qenae, Chairman of the KPMG MESAC region said, “The region’s tremendous opportunities and our strong presence provides interesting prospects for clients, our people, and the wider society.

We also remain committed to an ESG agenda across our initiatives.” Jamal Fakhro, Managing Partner, KPMG in Bahrain, commented, “The demand and expectations within the marketplace are rapidly evolving, and clients, regulators and other stakeholders’ expectations in terms of quality, pace and the depth of delivery is driving our transformation as an industry.