Saudi Arabia and Norway to Join KPMG Europe
The partners that KPMG International had in Saudi Arabia and Norway have joined the firm’s Europe network. This move brings the total number of countries in the firm to 16.
KPMG is a member of the Big 4 firms, which dominate the large UK audit market.
The new move by KPMG means that the revenues the firm will be earning will be €4.7 billion (£4 billion) and it will employ 30000 staff in 120 offices.
KPMG has also announced that in the next 3 years, it will be hiring 8000 more people.
Other countries which are a part of KPMG Europe are the UK, Switzerland, Germany, CIS (Russia, Ukraine, Kyrgyzstan, Kazakhstan, Armenia and Georgia), Spain, and Turkey.
Both the Saudi Arabia and Norway firms are equipped with strong natural and energy resources and public sector practices.
KPMG Norway has 24 offices and approximately 900 staff. The turnover reported for the year 2009 was €120 million (£104 million). 15% of he revenue eared by it came from oil and gas.
KPMG Saudi Arabia has 450 staff and the turnover it reported for last year was €31.5 million (£27 million). It has strong presence in infrastructure and public sector advisory work.