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KPMG International Limited (or simply KPMG) is a British-Dutch
multinational Multinational may refer to: * Multinational corporation, a corporate organization operating in multiple countries * Multinational force, a military body from multiple countries * Multinational state, a sovereign state that comprises two or more nat ...
professional services network A professional is a member of a profession A Profession is a disciplined group of individuals who adhere to ethical standards and who hold themselves out as, and are accepted by the public as possessing special knowledge and skills in a wid ...
, and one of the Big Four accounting organizations. Headquartered in
Amstelveen Amstelveen () is a List of municipalities of the Netherlands, municipality in the Provinces of the Netherlands, province of North Holland, Netherlands with a population of 89,918 (2017). It is a suburban part of the Amsterdam metropolitan area, m ...

Amstelveen
,
Netherlands ) , national_anthem = ( en, "William of Nassau") , image_map = EU-Netherlands.svg , map_caption = , image_map2 = BES islands location map.svg , map_caption2 = , image_map3 ...

Netherlands
, although incorporated in the United Kingdom, KPMG is a network of firms in 145 countries, with over 236,000 employees and has three lines of services:
financial audit A 'financial audit' is conducted to provide an opinion whether "financial statements Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant fin ...
, tax, and advisory. Its tax and advisory services are further divided into various service groups. Over the past decade various parts of the firm's global network of affiliates have been involved in regulatory actions as well as lawsuits. The name "KPMG" stands for "Klynveld Peat Marwick Goerdeler". The acronym was chosen when KMG (Klynveld Main Goerdeler) merged with Peat Marwick in 1987.


History


Early years and mergers

In 1818, John Moxham opened a company in
Bristol Bristol () is a city A city is a large human settlement.Goodall, B. (1987) ''The Penguin Dictionary of Human Geography''. London: Penguin.Kuper, A. and Kuper, J., eds (1996) ''The Social Science Encyclopedia''. 2nd edition. London: Routle ...

Bristol
. James Grace and James Grace Jr. bought John Moxham & Co. and renamed it James Grace & Son in 1857. In 1861, Henry Grace joined James Jr. and the company was renamed James & Henry Grace; the firm evolved to become Grace, Ryland & Co.
William Barclay Peat Sir William Barclay Peat (15 February 1852 – 24 January 1936) was an accountant and one of the founders of KPMG. Career Peat born in Forebank, St Cyrus, Kincardine, Fife, Kincardine, Scotland. He was the second son of James Peat and Marga ...
joined Robert Fletcher & Co. in London in 1870 at the age of 17 and became head of the firm in 1891, renamed William Barclay Peat & Co. by then. In 1877, Thomson McLintock founded Thomson McLintock & Co in Glasgow. In 1897, Marwick Mitchell & Co. was founded by
James Marwick James Marwick (born 1862 in Edinburgh, Scotland) was a Scottish American and an original founder of an accounting office that became one of the Big Four accounting firms, KPMG. Career Marwick's father was Sir James David Marwick, an Orcadian ...
and Roger Mitchell in New York City. In 1899, Ferdinand William LaFrentz founded the American Audit Co., in New York. In 1923, The American Audit Company was renamed FW LaFrentz & Co. In about 1913, Frank Wilber Main founded Main & Co. in Pittsburgh. In March 1917,
Piet Klijnveld Pieter 'Piet' Klijnveld (16 August 1874 – 9 February 1945) was a Netherlands, Dutch accountant who started a practice that after several mergers would grow into the international accounting firm KPMG. Life and career Pieter Klijnveld was bor ...
and Jaap Kraayenhof opened an accounting firm called Klynveld Kraayenhof & Co. in Amsterdam. In 1925, William Barclay Peat & Co. and Marwick Mitchell & Co., merged to form Peat Marwick Mitchell & Co. In 1963, Main LaFrentz & Co was formed by the merger of Main & Co and FW LaFrentz & Co. In 1969 Thomson McLintock and Main LaFrentz merged forming McLintock Main LaFrentz International and McLintock Main LaFrentz International absorbed the general practice of Grace, Ryland & Co. In 1979, Klynveld Kraayenhof & Co. (Netherlands), McLintock Main LaFrentz (United Kingdom / United States) and Deutsche Treuhandgesellschaft (Germany) formed KMG (Klynveld Main Goerdeler) as a grouping of independent national practices to create a strong European-based international firm. Deutsche Treuhandgesellschaft CEO
Reinhard Goerdeler Reinhard Goerdeler (26 May 1922 – 3 January 1996) was a Germany, German accountant who was instrumental in founding KPMG, the leading international firm of accountants. Goerdeler was born in Königsberg, East Prussia (today Kaliningrad) as the son ...
(son of leading anti-Nazi activist
Carl Goerdeler Carl Friedrich Goerdeler (; 31 July 1884 – 2 February 1945) was a monarchist Monarchism is the advocacy of the system of monarchy A monarchy is a form of government A government is the system or group of peopl ...
, who would have become Chancellor if
Operation Valkyrie Operation Valkyrie (german: Unternehmen Walküre) was a German World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a global war A world war is "a war War is an intense armed confli ...
had succeeded) became the first CEO of KMG. In the United States, Main Lafrentz & Co. merged with Hurdman and Cranstoun to form Main Hurdman & Cranstoun. In 1987, KMG and Peat Marwick joined forces in the first mega-merger of large accounting firms and formed a firm called KPMG in the United States, and most of the rest of the world, and Peat Marwick McLintock in the United Kingdom. In the Netherlands, as a consequence of the merger between PMI and KMG in 1988, PMI tax advisors joined Meijburg & Co. (The tax advisory agency Meijburg & Co. was founded by Willem Meijburg, Inspector of National Taxes, in 1939). Today, the Netherlands is the only country with two members of KPMG International: KPMG Audit (accountants) and Meijburg & Co (tax consultants). In 1991, the firm was renamed KPMG Peat Marwick, and in 1999, the name was reduced again to KPMG. In October 1997, KPMG and
Ernst & Young Ernst & Young Global Limited, doing business as EY, is a multinational corporation, multinational professional services Professional services network, network with headquarters in London, England. EY is one of the largest professional services ...
announced that they were to merge. However, while the merger to form
PricewaterhouseCoopers PricewaterhouseCoopers is a multinational Multinational may refer to: * Multinational corporation, a corporate organization operating in multiple countries * Multinational force, a military body from multiple countries * Multinational state, a ...

PricewaterhouseCoopers
was granted regulatory approval, the KPMG/Ernst & Young tie-up was later abandoned.


Recent history

In 2001, KPMG spun off its United States consulting firm through an
initial public offering An initial public offering (IPO) or stock launch is a public offering A public offering is the offering of securities A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal defi ...
of KPMG Consulting, which was rebranded
BearingPoint BearingPoint (parent company: BearingPoint Europe Holdings B.V.) is a multinational Multinational may refer to: * Multinational corporation, a corporate organization operating in multiple countries * Multinational force, a military body from mul ...

BearingPoint
. In early 2009, BearingPoint filed for Chapter 11 bankruptcy protection. The UK and Dutch consulting arms were sold to
Atos Atos is a French multinational Multinational may refer to: * Multinational corporation, a corporate organization operating in multiple countries * Multinational force, a military body from multiple countries * Multinational state, a sovereign s ...
in 2002. In 2003, KPMG divested itself of its legal arm, Klegal and KPMG sold its Dispute Advisory Services to
FTI Consulting FTI Consulting is a business advisory firm headquartered in Washington, D.C., United States. FTI is one of the largest financial consulting firms in the world and consistently ranks as one of the top global management consulting firms. The compa ...
. KPMG's member firms in the United Kingdom, Germany,
Switzerland , french: Suisse(sse), it, svizzero/svizzera or , rm, Svizzer/Svizra , government_type = Federalism, Federal semi-direct democracy under an assembly-independent Directorial system, directorial republic , leader_title1 = Fe ...

Switzerland
and
Liechtenstein Liechtenstein ( ; ), officially the Principality of Liechtenstein (german: link=no, Fürstentum Liechtenstein), is a German-speaking The German language (, ) is a West Germanic language mainly spoken in Central Europe Central Europ ...

Liechtenstein
merged to form KPMG Europe LLP in October 2007. These member firms were followed by
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Spain
,
Belgium Belgium ( nl, België ; french: Belgique ; german: Belgien ), officially the Kingdom of Belgium, is a country in Western Europe Western Europe is the western region of Europe. The region's countries and territories vary depending on cont ...

Belgium
, the
Netherlands ) , national_anthem = ( en, "William of Nassau") , image_map = EU-Netherlands.svg , map_caption = , image_map2 = BES islands location map.svg , map_caption2 = , image_map3 ...

Netherlands
,
Luxembourg Luxembourg ( ; lb, Lëtzebuerg ; french: link=no, Luxembourg; german: link=no, Luxemburg), officially the Grand Duchy of Luxembourg, ; french: link=no, Grand-Duché de Luxembourg ; german: link=no, Großherzogtum Luxemburg is a landlocked ...

Luxembourg
,
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CIS
(
Azerbaijan Azerbaijan (, ; az, Azərbaycan ), officially the Republic of Azerbaijan ( az, Azərbaycan Respublikası ), is a country in the Transcaucasia, Caucasus region of Eurasia. Located at the crossroads of Eastern Europe and Western Asia, it is boun ...

Azerbaijan
,
Russia Russia ( rus, link=no, Россия, Rossiya, ), or the Russian Federation, is a country spanning Eastern Europe Eastern Europe is the eastern region of . There is no consistent definition of the precise area it covers, partly because th ...

Russia
,
Ukraine Ukraine ( uk, Україна, Ukraïna, ) is a country in . It is the in Europe after , which it borders to the east and north-east. Ukraine also shares borders with to the north; , , and to the west; and to the south; and has a coastli ...

Ukraine
,
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Belarus
,
Kyrgyzstan russian: Киргизская Республика, Kirgizskaya Respublika , image_flag = Flag of Kyrgyzstan.svg , image_coat = Emblem of Kyrgyzstan.svg , symbol_type = Emblem , motto = " ...

Kyrgyzstan
,
Kazakhstan Kazakhstan ( kk, Қазақстан, Qazaqstan; russian: Казахстан, Kazakhstan), officially the Republic of Kazakhstan,; russian: Республика Казахстан, Respublika Kazakhstan, link=no) is a country located mainly in ...

Kazakhstan
,
Armenia Armenia (; hy, Հայաստան, translit=Hayastan, ), officially the Republic of Armenia,, is a landlocked country A landlocked country is a country A country is a distinct territory, territorial body or political entity. It is ...

Armenia
and
Georgia Georgia usually refers to: * Georgia (country) Georgia (, ; ) is a country located at the intersection of Eastern Europe and Western Asia. It is a part of the Caucasus region, bounded to the west by the Black Sea, to the north and east by ...
),
Turkey Turkey ( tr, Türkiye ), officially the Republic of Turkey, is a country located mainly on Anatolia Anatolia,, tr, Anadolu Yarımadası), and the Anatolian plateau. also known as Asia Minor, is a large peninsula in Western Asia an ...

Turkey
,
Norway Norway, officially the Kingdom of Norway,Names in the official and recognised languages: Bokmål Bokmål (, ; literally "book tongue") is an official written standard for the Norwegian language Norwegian (Norwegian: ''norsk'') is a Nort ...

Norway
, and
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Saudi Arabia
. They appointed joint Chairmen, John Griffith-Jones and Ralf Nonnenmacher. In 2020 KPMG International Limited was incorporated in London, England. In February 2021, KPMG UK appointed its first female leaders, replacing Bill Michael, who stepped aside after making controversial comments. Bina Mehta was asked to step in as acting UK chairman and Mary O'Connor took over Michael's executive responsibilities as acting senior partner in UK. In April 2021, O'Connor quit the firm after being passed over for the permanent role.


Global structure

Each national KPMG firm is an independent legal entity and is a member of KPMG International Limited, a UK Limited Company incorporated in London, United Kingdom. KPMG International changed its legal structure from a
Swiss Verein A Swiss association ("''Verein''" in German language, German, "association" in French language, French, "associazione" in Italian language, Italian) is a type of corporation in Law of Switzerland, Swiss law. It is similar to the Anglo-American volu ...
to a
co-operative A cooperative (also known as co-operative, co-op, or coop) is "an autonomous The federal subject The federal subjects of Russia, also referred to as the subjects of the Russian Federation (russian: субъекты Российск ...
under Swiss law in 2003 and to a limited company in 2020. This structure in which the Limited company provides support services only to the member firms is similar to other
professional services networks A professional is a member of a profession or any person who earns a living from a specified professional activity. The term also describes the standards of education and training that prepare members of the profession with the particular knowled ...
. The member firms provide the services to client. The purpose is to limit the liability of each independent member. Bill Thomas is KPMG's Global Chairman. He was formerly Senior Partner and CEO of KPMG LLP, the KPMG member firm in Canada. Some KPMG member firms are registered as multidisciplinary entities which also provide legal services in certain jurisdictions. In
India India, officially the Republic of India (Hindi Hindi (Devanagari: , हिंदी, ISO 15919, ISO: ), or more precisely Modern Standard Hindi (Devanagari: , ISO 15919, ISO: ), is an Indo-Aryan language spoken chiefly in Hindi Belt, ...

India
, regulations do not permit foreign auditing firms to operate. Hence KPMG carries out audits in India under the name of BSR & Co, an auditing firm that it bought. BSR & Co was an auditing firm founded by B.S. Raut in Mumbai. In 1992, after India was forced to liberalise as one of the conditions of the
World Bank The World Bank is an international financial institution An international financial institution (IFI) is a financial institution that has been established (or chartered) by more than one country, and hence is subject to international law. Its o ...
and
IMF The International Monetary Fund (IMF) is an international financial institution, headquartered in Washington, D.C. ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument The ...
bail out, KPMG was granted a license to operate in India as an
investment bank Investment is the dedication of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance Finance is a term for the management, creati ...
. It subsequently purchased BSR & Co and conducts audits in India under the name of this firm.


Services

KPMG is organised into the following three service lines (the 2021 revenue shares are listed in parentheses): *
Audit An audit is an "independent examination of financial information of any entity, whether profit oriented or not, irrespective of its size or legal form when such an examination is conducted with a view to express an opinion thereon.” Auditin ...

Audit
($11.46 billion) * Advisory ($13.65 billion) *
Tax A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity In law Law is a system A system is a group of Interaction, interacting or interrelated elements that act accord ...
($7.02 billion) Tax arrangements relating to
tax avoidance Tax avoidance is the legal usage of the tax A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity In law Law is a system A system is a group of Interaction, inte ...
and multinational corporations and Luxembourg which were negotiated by KPMG became public in 2014 in the so-called ''
Luxembourg Leaks Luxembourg Leaks (sometimes shortened to Lux Leaks or LuxLeaks) is the name of a financial scandal revealed in November 2014 by a journalistic investigation conducted by the International Consortium of Investigative Journalists The Internat ...
''.


Staff

KPMG was the preferred employer among the Big Four accounting firms according to CollegeGrad.com. It was also ranked No. 4 on the list of "50 Best Places to Launch a Career" in 2009 according to ''
Bloomberg Businessweek ''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine, published 50 times a year. Since 2009, the magazine is owned by New York City New York, often called New York City to distinguish i ...
''. It was reported in early 2012 that KPMG has about 11,000 staff in the UK and 9,000 in mainland China and Hong Kong. KPMG's global deputy chairman predicted that headcount in China would overtake that of the UK by the end of 2013.


Controversies


Tax shelter fraud

In 2003, the IRS issued summonses to KPMG for information about certain tax shelters and their investors. In February 2004, the US Justice Department commenced a criminal inquiry. The United States member firm, KPMG LLP, was accused by the
United States Department of Justice The United States Department of Justice (DOJ), also known as the Justice Department, is a federal executive department of the United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) o ...
of fraud in marketing abusive tax shelters. KPMG fired or forced the retirement of over a dozen who were involved. KPMG LLP admitted criminal wrongdoing in creating fraudulent tax shelters to help wealthy clients avoid $2.5 billion in taxes between 1996 and 2002, and agreed to pay $456 million in penalties to avoid indictment. Under the
deferred prosecution agreement A deferred prosecution agreement (DPA), which is very similar to a non-prosecution agreement (NPA), is a voluntary alternative to adjudication Adjudication is the legal process by which an arbitration, arbiter or judge reviews evidence (law), evid ...
, KPMG LLP would not face criminal prosecution if it complied with the terms of its agreement with the government. On 3 January 2007, the criminal conspiracy charges against KPMG were dropped.


Various other controversies

* 2003 KPMG agreed to pay $125 million and $75 million to settle lawsuits stemming from the firm's audits of
Rite Aid Rite Aid Corporation is an American drugstore A pharmacy (also called "drugstore" in American English or "community pharmacy" or "chemist" in Commonwealth English, or rarely, apothecary) is a retail shop which provides pharmaceutical drugs, am ...

Rite Aid
and Oxford Health Plans Inc., respectively. * 2004 KPMG agreed to pay $115 million to settle lawsuits stemming from the collapse of software company
Lernout & Hauspie Lernout & Hauspie Speech Products, or L&H, was a Belgium-based speech recognition technology company (law), company, founded by Jo Lernout and Pol Hauspie, that went bankruptcy, bankrupt in 2001 because of a fraud engineered by the management. T ...
Speech Products NV. * 2006 American real estate financing firm
Fannie Mae The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise A government-sponsored enterprise (GSE) is a type of financial services corporation created by the United St ...
sued KPMG for malpractice for approving years of erroneous
financial statement Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to un ...
s. * 2007 In February, KPMG Germany was investigated for ignoring questionable payments in the
Siemens Siemens AG ( ) is a German multinational Multinational may refer to: * Multinational corporation, a corporate organization operating in multiple countries * Multinational force, a military body from multiple countries * Multinational state, ...

Siemens
bribery case. In November 2008, the Siemens Supervisory Board recommended changing auditors from KPMG to Ernst & Young. * 2008 In March, KPMG was accused of enabling "improper and imprudent practices" at
New Century Financial New Century Financial Corporation was a real estate investment trust that originated mortgage loans in the United States through its operating subsidiaries, New Century Mortgage Corporation and Home123 Corporation. It was founded in 1995. In 200 ...
, a failed mortgage company, and KPMG agreed to pay $80 million to settle suits from
Xerox Xerox Holdings Corporation (; also known simply as Xerox) is an American corporation that sells print and digital document An electronic document is any electronic media content (other than computer program A computer program is a collectio ...
shareholders over manipulated earnings reports. In December, it was announced that two of Tremont Group's Rye Select funds, audited by KPMG, had $2.37 billion invested with the Madoff "
Ponzi scheme A Ponzi scheme (, ) is a form of fraud In law Law is a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of rules to form a unified whole. A system, surrounded and inf ...
." Class action suits were filed. * 2010 In August, it was reported by the Swedish Financial Supervisory Authority to the Swedish accountancy regulator after HQ Bank was forced into involuntary liquidation after the Financial Supervisory Authority revoked all its licences for breach of banking regulations. * 2011 In August, KPMG conducted due diligence work on
Hewlett Packard The Hewlett-Packard Company, commonly shortened to Hewlett-Packard ( ) or HP, was an American multinational information technology company headquartered in Palo Alto, California Palo Alto (; Spanish language, Spanish for "tall stick" ...
's $11.1 billion acquisition of the British software company
Autonomy In developmental psychology Developmental psychology is the scientific Science () is a systematic enterprise that Scientific method, builds and organizes knowledge in the form of Testability, testable explanations and predictions ...
. In November 2012 HP announced an $8.8 billion write off due to "serious accounting improprieties" committed by Autonomy management prior to the acquisition. According to an independent panel formed to investigate irregular payments made by
Olympus Olympus or Olympos ( grc, Ὄλυμπος) may refer to: Mountains In antiquity Greece * Mount Olympus Mount Olympus (; el, Όλυμπος, Ólympos, also , ) is the highest mountain A mountain is an elevated portion of the Earth' ...
which reported in December, KPMG's affiliate in Japan did not identify fraud at the company. * 2013 In April, Scott London, a former KPMG LLP partner in charge of KPMG's US Los Angeles-based Pacific Southwest audit practice, admitted passing on stock tips about clients, including
Herbalife Herbalife Nutrition Ltd. is a global multi-level marketing (MLM) corporation that develops and sells dietary supplements. The company was founded by Mark R. Hughes in 1980, and it employs an estimated 9,900 people worldwide. The business is inc ...
,
Skechers Skechers USA, Inc. is an USA, American footwear company. Headquartered in Manhattan Beach, California, Manhattan Beach, California, the brand was founded in 1992 and is now the third largest athletic footwear brand in the United States. History ...

Skechers
, and other companies, to his friend Bryan Shaw, a California jewelry-store owner. In return Shaw gave London $70,000 as well as gifts that included a $12,000 Rolex watch and concert tickets. On 6 May, Shaw agreed to plead guilty to one count of conspiracy to commit
securities fraud Securities fraud, also known as stock fraud and investment fraud, is a deceptive practice in the stock or commodity market, commodities markets that induces investors to make purchase or sale decisions on the basis of false information, frequently ...
. He also agreed to pay around $1.3 million in restitution, and to cooperate with the government as part of a plea deal with federal prosecutors. This scandal led KPMG to resign as auditor for Herbalife and Skechers. * 2015 KPMG was accused by the
Canada Revenue Agency The Canada Revenue Agency (CRA; ) is the revenue service A revenue service, revenue agency or taxation authority is a government agency responsible for the intake of government revenue, including taxes and sometimes non-tax revenue. Depending on ...
of abetting tax evasion schemes: "The CRA alleges that the KPMG tax structure was in reality a 'sham' that intended to deceive the taxman." * 2016 The
Canada Revenue Agency The Canada Revenue Agency (CRA; ) is the revenue service A revenue service, revenue agency or taxation authority is a government agency responsible for the intake of government revenue, including taxes and sometimes non-tax revenue. Depending on ...
offered an amnesty to KPMG clients caught using an offshore tax-avoidance scheme on the
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Isle of Man
. * 2017 KPMG US terminated five partners in its audit practice, including the head of its audit practice in the US, after an investigation of advanced confidential knowledge of planned audit inspections by its
Public Company Accounting Oversight Board The Public Company Accounting Oversight Board (PCAOB) is a nonprofit corporation created by the Sarbanes–Oxley Act The Sarbanes–Oxley Act of 2002 is a that mandates certain practices in financial record keeping and reporting for corpor ...
. This followed criticism about KPMG's failure to uncover illegal sales practices at
Wells Fargo Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California San Francisco (/Help:IPA/English, ˌsæn fɹənˈsɪskoʊ/; Spanish language, Spanish for "Fra ...

Wells Fargo
or potential corruption at
FIFA FIFA ( french: Fédération Internationale de Football Association; en, International Federation of Association Football, link=yes; : ''Federación Internacional de Fútbol Asociación''; : ''Internationaler Verband des Association-Fußball'' ...
, the governing international body of football. It was reported in 2017 that KPMG had the highest number of deficiencies, among the Big Four, cited by its regulator in the previous two years. This includes two annual inspections that were compromised as a result of advanced access to inspection information. In March 2019, David Middendorf and Jeffrey Wada, co-defendants in the scandal, were convicted. In August, KPMG US paid a $6.2 million fine to the
US Securities and Exchange Commission The U.S. Securities and Exchange Commission (SEC) is a large independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929 The Wall Street Crash of 1929, also known as the Great Cras ...
for inadequacies in its audit of the financial statements of oil and gas company, Miller Energy Resources. In November, 91 partners of KPMG Hong Kong faced contempt proceedings in Hong Kong High Court, as China Medical Technologies (CMED) liquidators investigating a $400 million fraud took action against KPMG with regard to its refusal to honor a February 2016 court order to produce Chinese working papers, correspondence, and records to the liquidators.Costello, Eugene (20 December 2017)
"KPMG partners facing Hong Kong contempt proceedings,"
''International Investment''.
Miller, Matthew (20 December 2017)
"Exclusive: KPMG partners face court contempt over China audit,"
Reuters.
The liquidators are asking that 91 defendants be held in
contempt of court Contempt of court, often referred to simply as "contempt", is the offense of being disobedient to or disrespectful toward a court A court is any person or institution, often as a government A government is the system or group o ...
, which could result in criminal penalties, or weekly fines. KPMG had issued written audit reports for CMED from 2003 to 2008, and was replaced by
PwC PricewaterhouseCoopers is a multinational Multinational may refer to: * Multinational corporation, a corporate organization operating in multiple countries * Multinational force, a military body from multiple countries * Multinational state, a ...
Zhong Tian in August 2009. "Perhaps locking up 91 KPMG partners over Christmas may spur the firms to find a solution to this problem", said Professor Paul Gillis of
Peking University Peking University (abbreviation An abbreviation (from Latin ''brevis'', meaning ''short'') is a shortened form of a word or phrase, by any method. It may consist of a group of letters, or words taken from the full version of the word or ph ...

Peking University
's Guanghua School of Management. * 2018 During July, KPMG has come under criticism for its role in the bankruptcy of Dubai-based private equity firm, Abraaj Group, after it was determined that KPMG Lower Gulf Chairman and Chief Executive Vijay Malhotra's son has worked at Abraaj and an executive named Ashish Dave alternated between stints at KPMG and as Abraaj’s chief financial officer, a job he held twice. Also during July, the UK accounting watchdog, the
Financial Reporting Council The Financial Reporting Council (FRC) is an independent regulator in the UK and Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic. It is separated from Great Brita ...
(FRC) announced an investigation into KPMG’s work for Conviviality, the British drinks supplier that collapsed into administration during April 2018. In November, the
Sultanate of Oman Oman ( ; ar, عُمَان ' ), officially the Sultanate of Oman ( ar, سلْطنةُ عُمان ), is a country on the southeastern coast of the Arabian Peninsula The Arabian Peninsula (; ar, شِبْهُ الْجَزِيرَةِ ا ...
's Capital Market Authority (CMA) suspended KPMG from auditing entities regulated by the CMA for a period of one year after discovering major financial and accounting irregularities in the entities' records. In December, KPMG South Africa published an open apology for its participation in various scandals in South Africa, including publishing a misleading report that led to the resignation of the South African Finance Minister, involvement with the
Gupta family The Gupta family is a wealthy Indian-origin family with business interests in South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. With over 60 million people, it is the ...
who have been implicated in corruption scandal with former President, Jacob Zuma, and acting as the auditor of
VBS Mutual Bank VBS Mutual Bank was a South African mutual bank. In 2018 it was declared insolvent and bankrupt and placed under curatorship, with South African citizens and taxpayers defrauded out of roughly R2 billion. It was formed as Venda Building Soc ...
that collapsed due to fraud. Its top eight staff resigned during 2017 and its workforce shrank from 3,400 to 2,200. * 2019 KPMG were fined £5 million by the
Financial Reporting Council The Financial Reporting Council (FRC) is an independent regulator in the UK and Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic. It is separated from Great Brita ...
for misconduct shortly after the takeover of the
Britannia Building Society The Leek & Moorlands Building Society was founded in Leek in 1856. It expanded steadily as a regional society until the late 1950s when it began a major expansion drive, partly through branch openings but also some 55 acquisitions. The most subst ...
by
The Co-operative Bank The Co-operative Bank plc is a retail and commercial bank A bank is a financial institution Financial institutions, otherwise known as banking institutions, are corporation A corporation is an organization—usually a group ...
, particularly relating to the valuation of Britannia's commercial loans and other liabilities. The takeover led to the near collapse of The Co-operative Bank. * 2020 In June, KPMG resigned from the auditor role at British fashion firm, Ted Baker plc after the company admitted accounting errors resulting in overstatement of its inventory by up to £58 million. * 2021 During May, members of the Canadian Parliament's House of Commons finance committee re-launched a probe into offshore tax evasion by interviewing Lucia Iacovelli, managing partner at KPMG. In July, the UK accounting regulator
Financial Reporting Council The Financial Reporting Council (FRC) is an independent regulator in the UK and Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic. It is separated from Great Brita ...
(FRC) criticised KPMG for its “unacceptable” failure to meet required standards in its audits of banks for a third year running. Only 61% of KPMG’s audits sampled by the regulator met industry standards. Also in July, the Government of
Malaysia Malaysia ( ; ) is a country in Southeast Asia Southeast Asia, also spelled South East Asia and South-East Asia, and also known as Southeastern Asia or SEA, is the geographical southeastern subregion of Asia, consisting of the regions ...

Malaysia
and the state sovereign fund,
1MDB 1Malaysia Development Berhad (1MDB; ) is an insolvent Malaysian strategic development company, wholly owned by the Minister of Finance (Incorporated) (Malaysia), Minister of Finance (Incorporated). 1MDB was established to drive strategic in ...
, launched a lawsuit seeking over $5.6 billion in damages from KPMG partners for alleged breaches and negligence linked to a corruption scandal at the fund. In August, a tribunal convened by the UK regulator, FRC, fined KPMG £13m and ordered it to pay £2.75m in costs. This was because of its serious misconduct in the sale of bed company Silentnight. The tribunal found that KPMG had helped private equity group H.I.G Capital drive Silentnight into an insolvency process, so that HIG could acquire the company without its £100m pension scheme. KPMG was severely reprimanded by the tribunal, and was ordered to appoint an independent reviewer to check a sample of previous cases for similar failings. The tribunal ruled that KPMG's involvement with Silentnight was "deeply troubling" as it failed to act solely in its client's interests. In September, the
Public Company Accounting Oversight Board The Public Company Accounting Oversight Board (PCAOB) is a nonprofit corporation created by the Sarbanes–Oxley Act The Sarbanes–Oxley Act of 2002 is a that mandates certain practices in financial record keeping and reporting for corpor ...
fined KPMG Australia $450,000 after it confessed to a cheating scandal involving over 1,100 (almost 12%) of its employees. In October, UK regulator The Financial Reporting Council (FRC), said KPMG and David Costley-Wood, a partner at the firm, used an “untruthful defence” in an investigation into the sale of Silentnight to a private equity firm in 2011. Costley-Wood, who was formerly head of KPMG’s Manchester restructuring division, was also fined £500,000 and barred from insolvency or accountancy licences for 13 years. In November, a British litigation financing firm - Augusta Ventures announced that it will bankroll three $152.4-million lawsuits in Canada against the previous auditor (KPMG LLP), authorized legal adviser (Cassels Brock & Blackwell LLP) and monetary adviser (Canaccord Genuity Corp) of the Money Retailer Monetary Providers Inc., a Canadian payday lender that filed for creditor safety in 2014. “It’s alleged in these lawsuits that KPMG, Cassels Brock and Canaccord triggered over $100-million in damages to Money Retailer and its collectors,” mentioned Mr. Aziz, President of BlueTree Advisors Inc., a company restructuring advisory agency primarily based in
Oakville, Ontario Oakville is a town in Halton Region The Regional Municipality of Halton, or Halton Region, is a regional municipality A regional municipality (or region) is a type of Canadian municipal government similar to and at the same municipal ...
. Also in November, KPMG UK has been hit with a £15m lawsuit by insurance outsourcer Watchstone — formerly known as Quindell — over allegations it suffered losses because of the audit firm's negligence in 2013. Again in November, two units of Abraaj that are now in liquidation, filed a lawsuit in
Dubai Dubai ( ; ar, دبي, translit=Dubayy , ) is the most populous city in the United Arab Emirates The United Arab Emirates (UAE; ar, الإمارات العربية المتحدة ) or the Emirates ( ar, الإمارات ), is a country i ...

Dubai
against KPMG LLP for damages of US$600 million alleging that KPMG accountants “failed to maintain independence and an appropriate attitude of professional skepticism,” and breached their duty of care when auditing the private-equity firm.


Carillion audit role

In January 2018, it was announced that KPMG, auditor of collapsed UK construction firm
Carillion Carillion plc was a British multinational Multinational may refer to: * Multinational corporation, a corporate organization operating in multiple countries * Multinational force, a military body from multiple countries * Multinational state, ...

Carillion
, would have its role examined by the
Financial Reporting Council The Financial Reporting Council (FRC) is an independent regulator in the UK and Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic. It is separated from Great Brita ...
, (FRC) and it was summoned to give evidence before two House of Commons select committees on 22 February 2018. On 13 February 2018, the 'Big 4' accountancy firms, including KPMG, were described by MP Frank Field as "feasting on what was soon to become a carcass" after collecting fees of £72m for Carillion work during the years leading up to its collapse. KPMG was singled out for particular criticism for signing off Carillion's last accounts before a profit warning in July 2017: "Either KPMG failed to spot the warning signs, or its judgement was clouded by its cosy relationship with the company and the multimillion-pound fees it received," said MP
Rachel Reeves Rachel Jane Reeves (born 13 February 1979) is a British politician and public policy analyst serving as Shadow Chancellor of the Exchequer since 2021. A member of the Labour Party (UK), Labour Party, she has been Member of Parliament (United Kin ...
. Two out of three former Carillion finance directors had also worked for KPMG. KPMG defended itself, saying that in the construction industry "an accumulation of adverse events ..can quite quickly cause a precipitous decline." KPMG chairman and senior partner Bill Michael said: "It does not follow automatically from a company collapse either that the opinion of management was wrong, or that the auditor did a bad job." On 22 February 2018, MPs contested evidence from KPMG (in one exchange MP
Peter Kyle Peter Kyle (born 9 September 1970) is a British politician serving as Shadow Secretary of State for Northern Ireland since 2021. A member of the Labour Party (UK), Labour Party, he has been Member of Parliament (United Kingdom), Member of Parl ...
told KPMG partner Peter Meehan: "I would not hire you to do an audit of the contents of my fridge"). Rachel Reeves, chair of the business select committee, said:
Auditing is a multi-million-pound business for the Big Four. On this morning's evidence from KPMG and Deloitte, these audits appear to be a colossal waste of time and money, fit only to provide false assurance to investors, workers and the public. ..Carillion staff and investors could see the problems at the company but those responsible – auditors, regulators, and, ultimately, the directors – did nothing to stop Carillion being driven off a cliff.
The final report of the Parliamentary inquiry into Carillion's collapse, published on 16 May 2018, criticised KPMG for its "complicity" in the company's financial reporting practices:
KPMG audited Carillion for 19 years, pocketing £29 million in the process. Not once during that time did they qualify their audit opinion on the financial statements, instead signing off the figures put in front of them by the company's directors. Yet, had KPMG been prepared to challenge management, the warning signs were there in highly questionable assumptions about construction contract revenue and the intangible asset of goodwill accumulated in historic acquisitions. These assumptions were fundamental to the picture of corporate health presented in audited annual accounts. In failing to exercise—and voice—professional scepticism towards Carillion's aggressive accounting judgements, KPMG was complicit in them. It should take its own share of responsibility for the consequences.
The select committee chairs (Frank Field and Rachel Reeves) called for a complete overhaul of Britain's corporate governance regime, saying the government had "lacked the decisiveness or bravery" to do so, accused the big four accounting firms of operating as a "cosy club", with KPMG singled out for its "complicity" in signing off Carillion's "increasingly fantastical figures". KPMG said:
We believe we conducted our audit appropriately. However, it's only right that following a corporate collapse of such size and significance, the necessary investigations are performed. Auditing large and complex businesses involves many judgments and we will continue to cooperate with the FRC's ongoing investigation. ... We welcome any future review of our profession. If we consider how the profession has changed in the last decade it is clear there is a need for us to look closely at our business models.
In a June 2018 report on audit standards across eight accounting firms, the FRC identified "failure to challenge management and show appropriate scepticism across their audits." It highlighted a decline in the quality of work undertaken by the Big Four, with KPMG performing the worst. There had, the FRC said, been an "unacceptable deterioration" in the quality of KPMG's work, and the FRC would scrutinise KPMG more closely as a result. In October 2018, the FRC proposed reforms to tackle the "underlying falling trust in business and the effectiveness of audit," and severely rebuked KPMG. In November 2018, KPMG said it would no longer undertake consultancy work for
FTSE 350 Index The FTSE 350 Index is a market capitalization Market capitalization, commonly called market cap, is the market value of a publicly traded company A public company, publicly traded company, publicly held company, publicly listed company, or pu ...
-listed companies if it was also auditing them, in an effort to "remove even the perception of a possible conflict" of interest. The Carillion investigation followed FRC investigations into KPMG's role at
HBOS HBOS plc was a banking and insurance company in the United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Usage is mixed. The Guardian' and Telegraph' use Brit ...
, Quindell and
The Co-operative Bank The Co-operative Bank plc is a retail and commercial bank A bank is a financial institution Financial institutions, otherwise known as banking institutions, are corporation A corporation is an organization—usually a group ...
. In July 2018, the FRC started an investigation into KPMG's audit role at collapsed drinks merchant
Conviviality Conviviality, or Convivialism, is the ability of individuals to interact creatively and autonomously with others and their environment to satisfy their own needs. This interpretation is related to, but distinct from, several synonyms and cognates ...
. In January 2019, KPMG announced it had suspended the partner that led Carillion's audit and three members of his team; in August 2021, an FRC disciplinary panel was scheduled for 10 January 2022 to hear a formal complaint against KPMG and former KPMG partner Peter Meehan regarding the provision of allegedly false and misleading information concerning the 2016 Carillion audit. The FRC opened a second investigation into how KPMG audited Carillion's accounts. In May 2020, the ''FT'' reported that the official receiver was preparing to sue KPMG for £250m over alleged negligence in its audits of Carillion. In May 2021, the liquidator secured funding for its legal action, with speculation that the likely damages claim could be as much as £2 billion. The FRC's first report, which found a number of breaches, was delivered to KPMG in September 2020; the FRC was awaiting a KPMG response before deciding whether to take enforcement action. In March 2021, KPMG was reported to be "inching towards a financial settlement with regulators" over its auditing of Carillion, with the FRC expected to impose a record fine, possibly around £25m, on KPMG for its failings. The FRC announced in September 2021 the creation of a disciplinary tribunal to hear its formal complaint against accountancy firm KPMG and one of its former partners relating to Carillion audits. The complaint alleges misconduct against KPMG and Peter Meehan regarding the provision of allegedly false and misleading information and/or documents to the FRC inspectors by KPMG in connection with its inspections of the 2016 Carillion audit. The tribunal has been convened to hear the formal complaint, starting on 10 January 2022.


Alterations to past audit work

In June 2019, KPMG was fined $50 million for altering its past audit work after receiving stolen data from accounting industry watch dog Public Company Accounting Oversight Board (PCAOB). KPMG admitted to its mistakes and as a part of its settlement, it also agreed to hire an independent consultant to review its internal controls.


2017 South African corruption scandal

In 2017, KPMG was embroiled in related scandals involving the
Gupta family The Gupta family is a wealthy Indian-origin family with business interests in South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. With over 60 million people, it is the ...
. KPMG, whose history in South Africa dated back to 1895, and which had been part of the international organization since its founding in 1979, faced calls for closure, and an uncertain future, as a consequence of the damage done to the South African economy as a result of its activities. KPMG had been working with a Gupta family company in the mining sector, Oakbay Resources and Energy, for 15 years prior to the revelations of corruption and collusion in 2016, at which point KPMG resigned. The full impact and financial profit that KPMG received is yet to be determined; however, at least one large company has terminated its services with KPMG due to its relationship with Oakbay. In July 2017, after controversial documents were leaked by the amaBhungane Centre for Investigative Journalism, former chief executive of KPMG South Africa and the former partner that was responsible for audits related to the Gupta family, Moses Kgosana, withdrew from becoming the chairman of Alexander Forbes, a financial services firm. In 2015, KPMG issued a controversial report that implicated former Finance Minister
Pravin Gordhan Pravin Jamnadas Gordhan (born 12 April 1949) is a politician and anti-apartheid Apartheid (South African English South African English (SAfrE, SAfrEng, SAE, en-ZA) is the set of English language dialects native to South Afr ...
in the creation of an illegal intelligence gathering unit of the
South African Revenue Service The South African Revenue Service (SARS) is the revenue service of the South African government. It administers the country's Taxation in South Africa, tax system and Customs, customs service, and enforces compliance with related legislation. It ...
(SARS). This report was seen by elements of the media to be part of a wider Gupta-linked
state capture State capture is a type of systemic political corruption in which private interests significantly influence a State (polity), state's decision-making processes to their own advantage. The term was first used by the World Bank, around the year 2000 ...
conspiracy, with the aim of forcing Gordhan out of his post. The report was withdrawn by KPMG in September 2017, earning the ire of the Commissioner of SARS, Tom Moyane. After an internal investigation that found work done for the Gupta family fell "considerably short" of the firm's standards and amid rising political and public backlash, KPMG's senior leadership in South Africa, including its chairman Ahmed Jaffer, CEO Trevor Hoole, COO Steven Louw, and five partners, resigned in September 2017. Save South Africa, a civil-society group, accused KPMG and UK PR firm
Bell Pottinger Bell Pottinger Private (legally BPP Communications Ltd.) was a British multinational Multinational may refer to: * Multinational corporation, a corporate organization operating in multiple countries * Multinational force, a military body from ...
of playing a "central role in facilitating state capture." Numerous South African companies either fired KPMG in the immediate aftermath of the scandal, or were reconsidering their relationships with the firm with the international chairman of KPMG, John Veihmeyer, apologising for the conduct of the South African arm and the firm pledged to donate fees earned from Gupta businesses, as well as the withdrawn SARS report, to anti-corruption activities.


Corporate theme song

In 2001, a blogger named Chris Raettig discovered a number of “corporate theme songs,” including one for KPMG. He created a page for these songs, and included deep links to the MP3 files on the source servers. KPMG responded by sending a takedown notice to Raettig, reading: “Please be aware such links require that a formal Agreement exist between our two parties, as mandated by our organization's Web Link Policy.” Raettig wrote publicly about this takedown notice, responding that "my own organization's Web link policy requires no such formal agreement." The chorus to the anthem reads: ''KPMG – We're as strong as can be, A team of power and energy, We go for the gold, together we hold, Onto our vision of global strategy!''


Sponsorship

The Swedish member firm was the main sponsor for Swedish
biathlete The biathlon is a winter sport #REDIRECT Winter sports#REDIRECT Winter sports Winter sports or winter activities are competitive sports or non-competitive recreational activities which are played on snow or ice. Most are variations of skiing, ...
Magdalena Forsberg Magdalena "Magda" Forsberg (born 25 July 1967 as Magdalena Wallin) is a former Swedish Swedish or ' may refer to: * Anything from or related to Sweden, a country in Northern Europe * Swedish language, a North Germanic language spoken primarily in ...
, six-time world champion and two-time Olympic medalist. Forsberg was working as a tax consultant at the KPMG
Sundsvall Sundsvall () is a Cities in Sweden, city and the seat of Sundsvall Municipality in Västernorrland County, Sweden. It has a population of 58,807 as of 2020; more than 95,000 live in the Sundsvall Municipality, municipal area. It is Sweden's 21st ...

Sundsvall
office parallel to her athletic career. In February 2008,
Phil Mickelson Philip Alfred Mickelson (born June 16, 1970), nicknamed Lefty, is an American professional golf Golf is a club-and-ball sport Sport pertains to any form of competitive Competition is a rivalry A rivalry is the state of two p ...
, ranked one of the best golfers in the world, signed a three-year global sponsorship deal with KPMG. As part of the agreement, Mickelson was to wear the KPMG logo on his headwear during all golf related appearances. The Canadian member firm sponsored skier
Alexandre Bilodeau Alexandre Bilodeau (; born September 8, 1987) is a retired Canadian freestyle skiing, freestyle skier from Rosemère, Rosemere, Quebec, Bilodeau currently resides in Montreal, Montreal, Quebec. Bilodeau won a gold medal in the Freestyle skiing ...
, who won the first gold medal for Canada on home soil in the
2010 Vancouver Olympics )'' , nations = 82 , athletes = 2,626 , events = 86 in 7 Olympic sports, sports (15 disciplines) , opening = February 12 , closing = February 28 , opened_by = Governor General of Canada, Governor General Michaëlle Jea ...
. Alexandre's father is a tax partner in the Montreal office. KPMG and McLaren Technology Group have formed a strategic alliance to apply
McLaren Applied Technologies McLaren Applied Limited is a British technology company that works in conjunction with companies such as GSK, NHS The National Health Service (NHS) is the umbrella term for the publicly funded healthcare systems of the United Kingdom (UK) ...
' (MAT)
predictive analytics Predictive analytics encompasses a variety of statistics, statistical techniques from data mining, predictive modelling, and machine learning that analyze current and historical facts to make predictions about future or otherwise unknown events. ...
and technology to KPMG's audit and advisory services. McLaren 2015 Formula 1 car has the KPMG logo engraved above the pilot seat. Since 2016, KPMG has been strategic sponsor of Brain Bar, a Budapest-based, annually held festival on the future.


Awards

KPMG ranked in the top two overall in Consultancy Rankings 2009 by OpRisk & Compliance – in recognition of KPMG's experience in risk management. In 2011, the company was ranked second on the World's Best Outsourcing Advisors – in recognition of the firm's depth of experience, global reach and holistic approach. That same year, the company was inducted into Working Mother Hall of Fame after being honored for 15 years as one of Working Mother magazine's 100 Best Companies for Working Mothers. KPMG was ranked number 13 in ''Consulting Magazines Best Firms to Work for in 2016. In 2017, KPMG was ranked 29th on the ''Fortune'' list of 100 best companies to work for. That same year, KPMG, along with
PwC PricewaterhouseCoopers is a multinational Multinational may refer to: * Multinational corporation, a corporate organization operating in multiple countries * Multinational force, a military body from multiple countries * Multinational state, a ...

PwC
,
Deloitte Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is a multinational corporation, multinational professional services network with offices in over 150 countries and territories around the world. Deloitte is one of the Big ...

Deloitte
, and
PA Consulting Group PA Consulting Group (formerly Personnel Administration) is a consultancy that specialises in strategy, technology and innovation. Founded to support the UK’s war efforts in 1943 by Ernest E. Butten, Tom H. Kirkham and Dr David Seymour, who ha ...
, were among the UK's 25 top companies to work for.


See also

*
Accounting networks and associations An accounting network or accounting association is a professional services network A professional is a member of a profession or any person who earns a living from a specified professional activity. The term also describes the standards of educat ...
*
Big Four accounting firms The Big Four is the nickname used to refer collectively to the four largest professional services network A professional is a member of a profession or any person who earns a living from a specified professional activity. The term also describe ...
:
PwC PricewaterhouseCoopers is a multinational Multinational may refer to: * Multinational corporation, a corporate organization operating in multiple countries * Multinational force, a military body from multiple countries * Multinational state, a ...
, EY,
Deloitte Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is a multinational corporation, multinational professional services network with offices in over 150 countries and territories around the world. Deloitte is one of the Big ...

Deloitte
*
Crowe Global Crowe Global, commonly referred to as Crowe, previously Crowe Horwath International, is a multinational corporation, multinational professional services network. It is the 9th largest global accounting network in the world by revenue. The network ...
,
BDO Global BDO or Binder Dijker Otte is an international network of public accounting, tax, consulting and business advisory firms which perform professional services under the name of BDO., BDO has member firms in 167 countries, employs around 91,000 par ...
,
Grant Thornton Grant Thornton is the world's seventh-largest by revenue and sixth-largest by number of employees professional services networks, professional services network of independent accounting and Management consulting, consulting member firms which ...
*
Financial audit A 'financial audit' is conducted to provide an opinion whether "financial statements Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant fin ...
*
FTSE 100 Index The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie" , is a share index Image:Comparison of three stock indices after 1975.svg, 300px, A comparison of three major U.S. stock ...

FTSE 100 Index
*
Management consulting Management consulting is the practice of helping organization An organization, or organisation (Commonwealth English The use of the English language English is a of the , originally spoken by the inhabitants of . It is named ...
*
Professional services Professional services are occupations in the service sector The tertiary sector of the economy, generally known as the service sector, is the third of the three economic sector Image:Economic sectors and income.JPG, 250px, This figure illustr ...
*
Tax advisor A tax advisor or tax consultant is a person with advanced training and knowledge of tax law Tax law or revenue law is an area of legal study in which public or sanctioned authorities, such as federal, state and municipal governments (as in the ...


References


External links

* {{DEFAULTSORT:Kpmg 1818 establishments in England Consulting firms established in 1818 Financial services companies established in 1818 Amstelveen Companies based in North Holland Companies based in Zug International management consulting firms Madoff investment scandal Privately held companies of Switzerland