This announcement follows the release of results by KPMG International, the global network of professional services firms, which today reported revenues of US$10.72 billion for the financial year ended 30 September 2002, an increase of 3.9 percent in US dollars compared with a year ago.

Commenting on the Australian result, KPMG’s Australian CEO, Lindsay Maxsted noted it was a solid result amid a year of significant change in the profession.

“The stand-out growth engine for KPMG in Australia in the last financial year was the Financial Advisory Services business which offers business advisory services for transactions services, corporate recovery, corporate finance and forensic accounting, which has delivered significant revenue growth from $72 million to $88 million,” said Mr Maxsted.