Introduction to KPMG
KPMG is one of the leading professional services firms in the world in addition to being one of the esteemed members of the Big-4 auditors, along with PwC, Deloitte, and Ernst & Young. The headquarters of the firm are located in Amstelveen, Netherlands. Moreover, the firm employs about 1,38,000 people and offers three basic service lines – tax, audit, and advisory. The advisory services of the firm are further categorized into three service groups counting Risk Consulting, Management Consulting, and Transaction & Restructuring.
KPMG is head quartered in Amstelveen, Netherlands and is the third best company in the top ten audit companies of the year 2011. KPMG was found in the year 186 KPMG specialises in audits like regulatory audit, and financial audit, tax services like china tax services, and business and personal tax services and also provide advisory services which are organized into three themes like governance, performance and growth. KPMG also provides financial risk management services, internal audit, risk and compliance services, accounting advisory services, and corporate finance services.
KPMG stands for?
KPMG stands for the names of the four partners who have merged their companies together to form KPMG. K is for Klynveld after Piet Klynveld, P is for Peat, after William Barclay Peat, M for Marwick, named so after James Marwick and G is for Goerdeler, after Reinhard Goerdeler.
KPMG is spread over 150 countries world wide and provides with global professional services for audit, tax and advisory services. KPMG is known to provide quality service to their clients and provides with an ample, customised and industry specific services as per the client needs.
KPMG provides with an in-depth analysis on suggestion and advisory services and make sure that they provide with the best consultation to the companies who seek to expand their business in other countries regarding the greater possibilities and helping them expand their operations.
KPMG provides with financial services like audit, tax and advisory for various industries like automotive, chemicals, healthcare, private equity, retail, technology, telecommunications, transport and logistics, media, infrastructure and other financial services.At KPMG the financial professionals provide greater respect for their clients and the global sectors across the world work together as one and provide with the best financial services to the clients. The professionals at KPMG aim at providing outstanding advices to their client which helps in establishment of their companies and better understanding to their financial standings.
Every national KPMG firm is an individual legal entity in addition to being a member of KPMG International Cooperative, a Swiss entity registered in the Swiss Canton of Zug. The legal structure of KPMG was changed to a co-operative form a Swiss Verein under the Swiss law in 2003.
The KPMG is run by:
- Michael Andrew, Chairman, KPMG International
- Michael Wareing, CEO, KPMG International
- John Griffith-Jones, Chairman, Europe, Middle East, Africa and India Region
- John Veihmeyer, Chairman, Americas Region
- Carlson Tong, Chairman, Asia Pacific Region
- D'Angelo G Groves Martinez, Australia
Name and Branding
The origin of the name KPMG came from the names of the four partners who amalgamated their own individual accounting firms:
- K representing Klynveld, after Piet Klynveld, initiator of the accounting firm Klynveld Kraayenhof & Co. in Amsterdam in 1917.
- P representing Peat, after William Barclay Peat, initiator of the accounting firm William Barclay Peat & Co. in 1870 in London.
- M representing Marwick, after James Marwick, co-founder of the accounting firm Marwick, Mitchell & Co. in New York City in 1897.
- G representing Goerdeler, after Reinhard Goerdeler, chairman of the German accounting firm DTG and later the chairman of KPMG.
The key services provided by KPMG include:
- Regulatory Audit
- Financial Statement Audit
This category includes Business and Personal Tax Services
- China Tax Services
- Asia Pacific Trade and Customs Services
The advisory services of KPMG are organized into three themes – growth, governance, and performance - and further nine service lines:
- Business performance services
- Accounting advisory services
- Corporate finance
- Financial risk management services
- Internal audit, risk, and compliance services
- IT advisory
4. Other services
The other services proffered by KPMG include Global China Practice.
KPMG believes in making the world a better place by promoting the global green initiative and taking part in various charitable funds. KPMG also provides for disaster relief operations and encourages its employees also to take an active part in all the corporate responsibility activities initiated by KPMG.
Awards and Recognition
KPMG has been awarded World’s Best Outsourcing Advisors in 2011.
KPMG was 2010 World’s Best Outsourcing Advisors.
KPMG has won the International Tax Review Asia Tax Awards in 2010.