KPMG reveals “limited number” of in-house training contracts

Big Four accountancy firm KPMG has admitted it will be taking on a number of trainees this year through its secretive legal training contracts.

The firm has issued training contracts in the past but does not disclose details such as the number of the training contracts on offer, pay, or the deadline for applications.

A KPMG spokesperson declined to provide additional details surrounding the contracts but did state that the firm was offering a “very limited number” of contracts “largely for those in-house”.

Earlier this month the firm announced its UK business had grown 2.6 per cent, increasing revenue from £1.909bn to £1.958bn during the 2014/15 financial year. The results cover the entirety of KPMG’s audit, tax and advisory services business.

However, a year after becoming the second of the Big Four accountancy firms to be granted an ABS licence KPMG’s legal division has also seen substantial growth. In September partner Gary Harley, who is spearheading the business, said that the legal practice had grown by 40 per cent and exceed the £10m target the firm had set during the previous year.

As well as hitting the target set last year the legal practice’s results fit within KPMG’s three year “grip, build and grow strategy”, which is aimed at repositioning the business within its markets.

As part of this strategy the firm invested almost £200m in acquisitions, property and staff training. The firms headcount also increased 2.7 per cent, bringing the total number of staff employed by the firm in the UK to 11,652.

The growth of the firm’s legal practice coupled with its on-going growth strategy could suggest a higher than average number of training contracts being issued at the firm.

In November, Lawyer 2B revealed that EY’s launch of its first UK training contract, which will require potential candidates to undertake a series of online assessments instead of achieving a minimum number of UCAS points.