KPMG sees rising opportunities in non-audit services

May 11, 2015 10:24
Benny Liu and Honson To say increased regulatory oversight is driving demand for non-audit consulting services in Greater China. Photo: HKEJ

Demand for non-auditing consultancy services is surging in Greater China including Hong Kong and Macau, the Hong Kong Economic Journal reported Monday.

This is driven by increased government efforts to strengthen regulations, the report said, citing KPMG China co-chairmen Benny Liu and Honson To.

The situation is exacerbated by murky details about value-added tax, leaving many companies in the dark.

Meanwhile, cultural differences make it necessary for both inbound and outbound investors to seek consultancy services.

The bulk of demand comes from mergers and acquisitions, taxation and information technology.

KPMG China is pouring more resources into employee training to cope with the growing demand for its services.

The group is simultaneously offering consulting and auditing work to take advantage of the expanding market, Liu said. 

Translation by Vey Wong

[Chinese version中文版]

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Hong Kong Economic Journal