KPMG is one of the biggest audit firms in the world. They operate through a network of firms across the world. The key audit topic areas of KPMG based on their website are (1) Environmental, Social and Governance (2) SPAC IPO readiness for Controllers and CFOs (3) Industrial Manufacturing and AI and (4) Climate risk for the technology industry.
KPMG audits 84 of the 500 companies in S&P 500. KPMG’s biggest market share is within the Real Estate, Communications, and Energy sector. The biggest clients of KPMG in these sectors are CBRE Group, Omnicom Group, and Baker Hughes. In dollar terms, biggest fees is from Citigroup which pays $97.4 million followed by GE which pays $79.1 million. Big loss for KPMG in 2021 when GE switches to Deloitte. In total, the S&P 500 clients brings in ~$1 billion in fees.
The below chart shows KPMG’s share of major US audit clients spread across the different Industry sectors:
| GICS Sector | KPMG # clients | Total Industry (#) | % | KPMG fees ($ M) | Total Industry ($ M) | % |
|---|---|---|---|---|---|---|
| Financials | 14 | 66 | 21% | 287.40 | 1438.89 | 20% |
| Health Care | 7 | 61 | 11% | 92.43 | 848.32 | 11% |
| Information Technology | 13 | 71 | 18% | 114.27 | 841.72 | 14% |
| Industrials | 8 | 69 | 12% | 145.38 | 876.49 | 17% |
| Materials | 5 | 28 | 18% | 40.98 | 393.82 | 10% |
| Consumer Discretionary | 8 | 62 | 13% | 43.01 | 568.64 | 8% |
| Communication Services | 5 | 22 | 23% | 60.59 | 471.79 | 13% |
| Energy | 6 | 26 | 23% | 72.31 | 297.39 | 24% |
| Consumer Staples | 7 | 33 | 21% | 76.48 | 425.49 | 18% |
| Utilities | 1 | 28 | 4% | 10.91 | 263.4 | 4% |
| Real Estate | 10 | 31 | 32% | 50.44 | 141.17 | 36% |
Do read our posts on KPMG’s audit clients across the various US States and their corresponding Audit Fees. Subscribe to our posts for information on Big4 firms. If there is some data point that you would like us to analyze, just drop in a comment.
