Staff at one of the "Big Four" accountancy firms have hit the jackpot following the announcement of a bumper Christmas bonus.
KPMG will pay its 8,950 UK staff a total bonus of £59m compared with £35m last year. It comes on the back of soaring revenues which were up 20 per cent to £1.28bn for the 12 months to the end of September.
KPMG chief executive John Griffith-Jones said: "We have had a very successful year and are delighted to reward our people with a record bonus payment."
KPMG is the latest firm to benefit from an increase in red tape as companies prepare for new accounting regulations - the International Financial Reporting Standards (IFRS) and Sarbanes-Oxley (SOX) legislation in the United States.
The firm said 93 per cent of companies in the FTSE 100 Index had been clients during the year, which saw its market share grow among the so-called big four - KPMG, Ernst & Young, PricewaterhouseCoopers and Deloitte & Touche.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article