The world is changing at an unprecedented pace, and the change is radical. This change is mostly driven by technological advances and it practically encompasses every area of human activity, including all areas of business and the professions. To add to this, there are various indications that the rate of change is even more rapid than expected just a few years ago.
Over the past year, we have been very active in transforming KPMG to meet the challenges and, more importantly, the opportunities of the digital age. Our aim is to combine KPMG's deep business expertise with leading edge technology. To achieve this we have to operate in new ways, become more agile; above all we have to drive innovation, enabling us to disrupt the status quo and grow, and, at the same time, supporting our clients in doing the same.
Quality and trust
Quality is anchored in our values; foremost amongst these is that "above all we act with integrity". Adhering to the norms of our profession and doing the right thing is at the very core of our purpose, and this overwhelms extraneous influences. We strongly believe that by doing so we enhance public trust not only in KPMG but also in the profession as a whole.
Trust is not a given - it must be earned. As the firm's senior partner in Malta, I have a responsibility to set the right tone from the top. For this reason, I take every available opportunity to speak with KPMG professionals across the firm to reinforce that our commitment to quality can never be compromised. We set out a detailed account of our commitment to quality in our Transparency Report.
A magnet for talent
KPMG is one of Malta's leading employers, training and developing the next generation of business professionals and leaders. In all KPMG employed 774 people in Malta as at the end of 2017, not including 189 students engaged in our Graduate Recruitment Program. Last year we hired 271 people, creating more than a 100 new jobs.
Our recruits mostly comprise professionals with a diverse set of backgrounds including accountants and auditors, lawyers, tax specialists, risk professionals, corporate finance practitioners, as well as software engineers, computer scientists, and data and analytics experts in order to help meet clients' digital transformation challenges.
KPMG people are globally-minded. We continue to support our people in taking on secondment opportunities with other KPMG offices, enabling them to expand their skills and business knowledge while taking on new challenges.
In 2017 both KPMG in Malta and KPMG Crimsonwing experienced strong growth in revenue which amounted to just over €50 million, an increase of 15% over 2016 levels (KPMG – €18.2 million; KPMG Crimsonwing - €34.3 million). We achieved this growth by focusing on our clients' changing needs, making KPMG more agile, improving the speed at which we develop new services and solutions for clients and shortening the time we take in deploying them.
2017 saw a number of new initiatives at KPMG. These included the acquisition at the beginning of the year, of a talent advisory practice thereby greatly strengthening our People & Change service offering. In the second quarter of the year, KPMG Software was set up offering our clients expertise within the software development field across the whole project life cycle. During the year we also transformed a building in Floriana into a training centre and we will shortly be launching KPMG Learning which will operate from there.
In May 2017 we also commenced the renovation and extension of our existing office building in Pieta. This project, which is still ongoing and is expected to be completed in the next few months, is essential for us to be able to accommodate further growth as well as to create a fully-equipped space appropriate for the demands of the digital world we now live in.
Download >> Innovate. Disrupt. Grow. - Annual Review 2017
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