HOME
The Info List - KPMG



--- Advertisement ---


(i) (i) (i) (i)

KPMG
KPMG
is a professional service company and one of the Big Four auditors , along with Deloitte
Deloitte
, Ernst "> Current KPMG
KPMG
headoffice in Amstelveen, The Netherlands 15 Canada Square in Canary Wharf, London. The headquarters of KPMG
KPMG
in the UK. Peat Marwick logo Headquarters of KPMG
KPMG
LLP, the United States-based member firm of KPMG
KPMG
International, at 345 Park Avenue, New York City The 34-story KPMG Tower
KPMG Tower
on De Maisonneuve Boulevard in Montreal The KPMG Tower
KPMG Tower
at 355 South Grand Avenue in Los Angeles KPMG offices at 150 West Jefferson in Detroit KPMG
KPMG
at the Bay Adelaide West tower in Toronto

The organization's history spanned three centuries. In 1818 John Moxham opened a company in Bristol. James Grace and James Grace Jr. bought John Moaxham & Co. and renmed it James Grace & Son in 1857. In 1861 Henry Grace joined James Jr. and the company was renamed James & Henry Grace. William Barclay Peat joined Robert Fletcher & Co. in London at 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 and Roger Mitchell in New York City. In 1899 Ferdinand William LaFrentz founded the American Audit
Audit
Co., in New York.

On the other side of the Atlantic, in about 1913, Frank Wilber Main founded Main & Co. in Pittsburgh. In March 1917 Piet Klijnveld and Jaap Kraayenhof opened an accounting firm called Klynveld Kraayenhof & Co. in Amsterdam. In 1920 Philipp Derbyshire & Gerald Todd became partners in James & Henry Grace and it was renamed to Grace, Darbyshire, & Todd.

In 1923 The American Audit
Audit
Company was renamed FW LaFrentz & Co. In 1925 William Barclay Peat & Co. and Marwick Mitchell & Co., merged to form Peat Marwick Mitchell & Company (later known simply as Peat Marwick).

In 1963 Main LaFrentz & Co was formed by the merger of Main & Co and FW LaFrentz & Co. In 1967 Grace, Darbyshire, & Todd merged with CJ Ryland & Co to form Grace, Ryland & 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. In the United States, Main Lafrentz & Co. merged with Hurdman and Cranstoun to form Main Hurdman & Cranstoun.

Then in 1987 KMG and Peat Marwick joined forces in the first mega-merger of large accounting firms and formed a firm called KPMG
KPMG
in the US, and most of the rest of the world, and Peat Marwick McLintock in the UK.

In 1990 the two firms settled on the common name of KPMG
KPMG
Peat Marwick McLintock but in 1991 the firm was renamed KPMG
KPMG
Peat Marwick, and in 1999 the name was reduced again to KPMG.

In October 1997, KPMG
KPMG
and Ernst & Young
Ernst & Young
announced that they were to merge. However, while the merger to form PricewaterhouseCoopers
PricewaterhouseCoopers
was granted regulatory approval, the KPMG/Ernst "> KPMG
KPMG
building in Kamloops
Kamloops
, British Columbia

In 2001 KPMG
KPMG
divested its U.S. consulting firm through an initial public offering of KPMG Consulting Inc , which is now called BearingPoint, Inc. In early 2009, BearingPoint filed for Chapter 11 bankruptcy protection.

The UK and Dutch consulting arms were sold to Atos Origin
Atos Origin
in 2002.

In 2003 KPMG
KPMG
divested itself of its legal arm, Klegal and KPMG
KPMG
LLP sold its Dispute Advisory Services to FTI Consulting .

KPMG's member firms in the United Kingdom, Germany, Switzerland and Liechtenstein merged to form KPMG
KPMG
Europe LLP in October 2007. These member firms were followed by Spain, Belgium, the Netherlands, Luxembourg, CIS (Azerbaijan, Russia, Ukraine, Belarus, Kyrgyzstan, Kazakhstan, Armenia and Georgia), Turkey, Norway, and Saudi Arabia. They appointed joint Chairmen, John Griffith-Jones and Ralf Nonnenmacher.

GLOBAL STRUCTURE

Each national KPMG
KPMG
firm is an independent legal entity and is a member of KPMG
KPMG
International Cooperative, a Swiss entity registered in the Swiss Canton of Zug
Canton of Zug
. KPMG
KPMG
International changed its legal structure from a Swiss Verein to a co-operative under Swiss law in 2003.

This structure in which the Cooperative
Cooperative
provides support services only to the member firms is similar to other professional services networks . The member firms provide the services to client. The purpose is to limit the liability of each independent member.

Michael Andrew, previously chairman of KPMG
KPMG
in Australia, assumed the global chairmanship in September 2011 and is based in Hong Kong. This is the first time a Big Four accounting organisation has had its global leader based in Asia Pacific. On February 27, 2014 it was announced that Michael Andrew was retiring as chairman due to illness and that he would be succeeded by John B. Veihmeyer , a role he will perform alongside continuing as chairman and chief executive officer of KPMG’s U.S. firm. Veihmeyer is based in New York City.

KPMG
KPMG
is registered as a multidisciplinary entity which also provides legal services.

SERVICES

KPMG
KPMG
is organised into the following three service lines (the 2016 revenue shares are listed in parentheses):

* Audit
Audit
(40%) * Advisory (38%) * Tax (22%)

Tax arrangements relating to tax avoidance and multinational corporations and Luxembourg which were negotiated by KPMG
KPMG
became public in 2014 in the so-called Luxembourg Leaks .

COMMUNITY INVOLVEMENT AND ADVOCACY

In March 2017 KPMG
KPMG
launched a campaign designed to encourage more women to pursue careers in technology-based professions.

STAFF

The US branch of KPMG
KPMG
was rated one of the top 10 companies for working mothers. It is also ranked No. 56 on Fortune Magazine 's 2009 list of 100 Best Companies to Work For, voted for by employees.

KPMG
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 BusinessWeek .

In 2009, KPMG
KPMG
in the UK was named the best big company to work for by The Times. This was the fourth consecutive year that KPMG
KPMG
has made the top three.

In 2009, in the UK, KPMG
KPMG
introduced a programme known as 'Flexible Futures'. This allowed staff to volunteer to give the firm the option to either send them on a Sabbatical at 30% pay for up to 12 weeks, or to reduce their working hours to 4 days a week. The option remains open to the firm until October 2010. This facility has been invoked by the firm in some departments. KPMG
KPMG
publicised this as innovative and an alternative approach to redundancies. Reaction within the firm was generally positive, with over 75% of staff volunteering. However, over 100 staff had been made redundant prior to this announcement, leading some to accuse KPMG
KPMG
of being hypocritical in the message that they were given.

In October 2010, for the eighth year in a row, KPMG
KPMG
was named one of "Canada\'s Top 100 Employers " by Mediacorp Canada Inc., and was featured in Maclean\'s news magazine. In November 2010, KPMG
KPMG
was also named one of Greater Toronto\'s Top Employers , which was announced by the Toronto Star
Toronto Star
newspaper.

It was reported in early 2012 that KPMG
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 will overtake that of the UK by the end of 2013.

IMPROPRIETIES

In 2003, KPMG
KPMG
agreed to pay $125 million and $75 million to settle lawsuits stemming from the firm's audits of Rite Aid
Rite Aid
and Oxford Health Plans Inc respectively.

In 2004, KPMG
KPMG
agreed to pay $115 million to settle lawsuits stemming from the collapse of software company Lernout & Hauspie Speech Products NV.

In 2006, Fannie Mae
Fannie Mae
sued KPMG
KPMG
for malpractice for approving years of erroneous financial statements.

In February 2007, KPMG
KPMG
Germany was investigated for ignoring questionable payments in the Siemens
Siemens
bribery case. In November 2008, the Siemens
Siemens
Supervisory Board recommended changing auditors from KPMG to Ernst "> KPMG
KPMG
Europe headquarters in the Squaire building at Frankfurt Airport
Frankfurt Airport

The Swedish member firm was main sponsor for Swedish biathlete Magdalena Forsberg , six-time world champion and two-time Olympic medalist. Forsberg was working as a tax consultant at the KPMG Sundsvall
Sundsvall
office parallel to her athletic career. Phil Mickelson Wearing KPMG
KPMG
Hat

In February 2008, Phil Mickelson
Phil Mickelson
, 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
KPMG
logo on his headwear during all golf related appearances.

The Canadian member firm sponsored Alexandre Bilodeau , who won the first gold medal for Canada on home soil in the 2010 Vancouver Olympics . Alexandre's father is a tax partner in the Montreal office.

KPMG
KPMG
and McLaren Technology Group have formed a strategic alliance to apply McLaren Applied Technologies’ (MAT) predictive analytics and technology to KPMG’s audit and advisory services. McLaren 2015 Formula 1 car has the KPMG
KPMG
logo engraved above the pilot seat.

AWARDS

* No.2 in the 2011 World's Best Outsourcing Advisors – in recognition of the firm's depth of experience, global reach and holistic approach. * 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. * International Tax Review Asia Tax Awards, 2008–2010 – in recognition of the accomplishments of KPMG's Tax Services and Global Transfer Pricing Services team. KPMG
KPMG
China was awarded the 2010 Hong Kong Tax Firm of the Year and the 2010 China Transfer Pricing Firm of the Year at the International Tax Review's 2010 Asia Tax Awards ceremony in Singapore on 23 November 2010. KPMG's global transfer pricing services in China and Hong Kong is headed by Chi Cheng. * Top 2 overall in Consultancy Rankings 2009 by OpRisk & Compliance – in recognition of KPMG's experience in risk management. * World's most attractive employers, 2010 – First of the Big Four.

* KPMG
KPMG
Leads all the Big Four professional services giant firms (namely Deloitte, PWC and Ernst border:solid #aaa 1px">

* Companies portal

* KPMG
KPMG
people

REFERENCES

* ^ Chartered Accountants in England and Wales: A Guide to Historical Records. Manchester University Press. 1994. p. 133. ISBN 9780719042294 . * ^ A B Your Planning Resource with Useful Tips and Techniques. John Wiley. 2008. p. 308. ISBN 978-0787996611 . * ^ "KPMG: Michael Andrew Retiring as Chairman; Has \'Serious Medical Condition\'". Wall Street Journal. 27 February 2014. Retrieved 13 June 2015. * ^ A B C D " KPMG
KPMG
2016 International Annual Review" (PDF). Retrieved 19 December 2016. * ^ A B C D E F "Chartered Accountants in England and Wales: A Guide to Historical Records". * ^ A B C D E F " KPMG
KPMG
History". KPMG. * ^ A B Grant, Julia (1995). New York State Society of Certified Public Accountants: Foundation of a Profession. Routledge. p. 212. ISBN 978-0815322382 . * ^ "Newspaper article". Pittsburgh Daily Post, Pittsburgh, Pennsylvania. 16 February 1914. p. 11. Retrieved 28 June 2016. * ^ Family tree: Peat Marwick McLintock ICEAW * ^ "The forces of deinstiutionalisation and demise" (PDF). Retrieved 28 June 2016. * ^ "The Development of “The Big Eight” Accounting Firms in the United States, 1900 to 1990". Accounting Information. Retrieved 28 January 2017. * ^ Note: KPMG
KPMG
derived from predecessor company founders: Piet Klijnveld, William Barclay Peat, James Marwick, and Reinhard Goerdeler. * ^ "Ernst & Young, KPMG
KPMG
Peat Marwick to merge New company would be largest accounting, consulting firm in world". Baltimore Sun
Baltimore Sun
. 21 October 1997. Retrieved 5 September 2014. * ^ " KPMG
KPMG
Partners Vote For Ernst Merger". The New York Times
The New York Times
. 22 December 1997. Retrieved 5 September 2014. * ^ "Accountancy merger off". BBC News
BBC News
. 13 February 1998. Retrieved 5 September 2014. * ^ " KMPG and Ernst call off $18bn accountancy mega-merger". The Independent . 14 February 1998. Retrieved 5 September 2014. * ^ " KPMG
KPMG
Consulting becomes BearingPoint". ITworld. 2 October 2002. Retrieved 5 September 2014. * ^ Lazo, Alejandro (19 February 2009). " BearingPoint Seeks Bankruptcy Protection". The Washington Post
The Washington Post
. * ^ Aldrick, Philip (6 June 2002). " KPMG
KPMG
stuns with French Atos sale". The Telegraph . Retrieved 5 September 2014. * ^ " KPMG
KPMG
ditches legal ambitions in KLegal split". Legal Week . 6 November 2003. Retrieved 5 September 2014. * ^ " FTI Consulting Completes Acquisition of Dispute Advisory Services Business Of KPMG". FTI Consulting. 3 November 2003. Retrieved 5 September 2014. * ^ "Norway and Saudi Arabia to join KPMG
KPMG
Europe LLP". Consultant-news.com. 1 November 2010. Retrieved 5 September 2014. * ^ "Norway and Saudi Arabia to join KPMG
KPMG
Europe LLP". KPMG International. 30 November 2010. Retrieved 5 September 2014. * ^ Handelsregister des Kantons Zug (Registration Number CH-020.6.900.276-5) * ^ This is illustrated in the cases involving Parmalat
Parmalat
where clients sought to hold Deloitte
Deloitte
(the Swiss Verein)and Grant Thornton International (a UK company providing administrative services to its members) liable for the negligence of other member firms. * ^ "Australia\'s Michael Andrew named KPMG\'s global chairman". International Business Times. 12 May 2011. Retrieved 5 September 2014.

* ^ Rapoport, Michael (27 February 2014). "KPMG: Michael Andrew Retiring as Chairman; Has \'Serious Medical Condition\'". Wall Street Journal . Retrieved 4 March 2014. * ^ " John B. Veihmeyer Selected Global Chairman Of KPMG". KPMG Press release. 27 February 2014. Retrieved 6 October 2014. * ^ "All Your Profits Are Belong To Us". Above the law. 5 November 2014. Retrieved 6 November 2014. * ^ "Disney and Skype \'used Luxembourg tax deals\'". BBC. Retrieved 18 January 2015. * ^ " KPMG
KPMG
launches campaign to encourage women into tech". ComputerWeekly. Retrieved 2017-03-30. * ^ A B "Working Mother 100 Best Companies for 2011 Press Release". Working Mother. 15 September 2011. * ^ "100 Best Companies to work for (2009)". Fortune . 2 February 2009. Retrieved 5 September 2014. * ^ " KPMG
KPMG
Named the Top Big Four Accounting Firm by CollegeGrad.com". CollegeGrad.com. 5 March 2008. Retrieved 5 September 2014. * ^ Lavelle, Louis. "Best Places to Launch a Career (2009)". Bloomberg Businessweek
Bloomberg Businessweek
. Retrieved 5 September 2014. * ^ Katherine Griffiths (3 April 2013). "Best 100 Companies". The Times. Archived from the original on 12 June 2011. * ^ Sam Fleming (16 January 2009). "Four day week as work dries up: KPMG
KPMG
offers 11,000 staff dramatic cut in hours to save jobs". Daily Mail . London. * ^ "Reasons for Selection, 2009 Canada\'s Top 100 Employers Competition". * ^ Jones, Adam (25 January 2012). "China headcount to overtake UK at top firms". Financial Times
Financial Times
. Archived from the original on 24 April 2012. CS1 maint: BOT: original-url status unknown (link ) * ^ "China headcount to overtake UK at top firms". Baltimore Sun
Baltimore Sun
. 11 March 2003. Retrieved 5 September 2014. * ^ Taub, Stephen (12 October 2004). " KPMG
KPMG
Pays $115 Million to Settle Suit". CFO . Retrieved 5 September 2014. * ^ Margaret Cronin Fisk (7 October 2004). " KPMG
KPMG
to Pay $115 Mln to Settle Lernout & Hauspie Suit". Bloomberg . Retrieved 8 September 2014. * ^ Hilzenrath, David S. (13 December 2006). "Fannie Sues KPMG
KPMG
for Approving Bad Numbers". The Washington Post
The Washington Post
. Retrieved 8 September 2014. * ^ Esterl, Mike (24 February 2007). " KPMG
KPMG
Germany\'s Failure to Spot Siemens
Siemens
Problems Raises Questions". The Wall Street Journal
Wall Street Journal
. Retrieved 8 September 2014. * ^ " Siemens
Siemens
Supervisory Board Proposes Ernst & Young
Ernst & Young
As Auditors". Easybourse.com. 10 May 2012. * ^ Bajaj, Vikas (26 March 2008). "Report Assails Auditor for Work at Failed Home Lender". The New York Times
The New York Times
. Retrieved 8 September 2014. * ^ "Xerox, KPMG
KPMG
Settle Shareholder Suit". The Wall Street Journal . 28 March 2008. Retrieved 8 September 2014. * ^ Mackintosh, James (18 December 2008). "Accounting firms drawn into Madoff scandal". Financial Times
Financial Times
. Archived from the original on 7 December 2014. * ^ Docket, Securities (20 February 2009). "Madoff-related class action filed in SDNY against Tremont Group, KPMG, others". Securities Docket. * ^ "HQ Bank accountant KPMG
KPMG
reported after flaws". The Swedish Wire. 30 August 2010. * ^ Singh, Rachael (20 November 2012). " KPMG
KPMG
conducted due diligence of Deloitte
Deloitte
audit at Autonomy". Accountancy Age. Retrieved 8 September 2014. * ^ Hardy, Quentin (20 November 2012). "Hewlett\'s Loss: A Folly Unfolds, by the Numbers". The New York Times
The New York Times
. Retrieved 8 September 2014. * ^ "The Culture Was Corrupt at Olympus, Panel Finds". The New York Times . 6 December 2011. Retrieved 8 September 2014. * ^ Rapoport, Michael (6 May 2013). "Guilty Plea in KPMG
KPMG
Case". The Wall Street Journal
Wall Street Journal
. Retrieved 8 September 2014. * ^ Flitter, Emily (6 May 2013). "Friend of ex- KPMG
KPMG
auditor pleads guilty in insider case". Reuters
Reuters
. Retrieved 8 September 2014. * ^ "Trading Case Embroils KPMG". The Wall Street Journal
Wall Street Journal
. 9 April 2013. Retrieved 8 September 2014. * ^ " KPMG
KPMG
Offshore \'Sham\' Deceived Tax Authorities, CRA Alleges". cbc.ca. 10 Sep 2015. Retrieved 11 September 2015. * ^ "Secret tax deal for wealthy KPMG
KPMG
clients sparked anger inside Canada Revenue Agency". CBC News. 8 March 2016. Retrieved 9 March 2016. * ^ Michaels, Dave; Rapoport, Michael. " KPMG
KPMG
partners fired over ethics breach". MarketWatch.com. Retrieved 18 April 2017. * ^ A B Bray, Chad (12 Apr 2017). " KPMG
KPMG
Fires 6 Over Ethics Breach on Audit
Audit
Warnings". The New York Times. Retrieved 18 April 2017. * ^ Rapoport, Michael. "Fired KPMG
KPMG
Audit
Audit
Head: How Did Scott Marcello Fall From Grace?". The Wall Street Journal. access-date= requires url= (help ) * ^ "South Africans urge US law-enforcers to bring Gupta and friends down with McKinsey - BizNews.com". BizNews.com. 2017-07-11. Retrieved 2017-07-12. * ^ Cropley, Ed & Motsoeneng, Tisetso (4 April 2016). "KPMG, Sasfin cut links with Gupta firm". Sunday Times . Retrieved 7 April 2016. CS1 maint: Multiple names: authors list (link ) * ^ A B Browning, Lynnley (28 Aug 2005). "How an Accounting Firm Went From Resistance to Resignation". The New York Times. access-date= requires url= (help ) * ^ Johnson, Carrie (23 Aug 2005). " KPMG
KPMG
Nears Agreement On Tax-Shelter Abuses". The Washington Post. access-date= requires url= (help ) * ^ Johnson, Carrie (4 January 2007). "Charge Against KPMG Dropped". The Washington Post
The Washington Post
. Retrieved 8 September 2014. * ^ "\'\'Från skott till skatt\'\'". Aftonbladet. 24 March 2002. * ^ "Mickelson signs agreement with KPMG
KPMG
LLP". PGA Tour. 6 February 2008. * ^ Kirbyson, Geoff (April 2010). "Golden opportunity for KPMG
KPMG
and skier". The Bottom Line. Retrieved 8 September 2014. * ^ Newquist, Caleb (18 February 2010). " Alexandre Bilodeau Is KPMG Canada\'s Phil Mickelson". The Going Concern. Retrieved 8 September 2014. * ^ " KPMG
KPMG
& McLaren join forces to transform services". 21 November 2014. Retrieved 24 February 2015. * ^ "IOAP 2011 Worlds Best Outsourcing Advisors". Retrieved 5 September 2014. * ^ " KPMG
KPMG
wins International Tax Review 2010 Awards". KPMG
KPMG
China. * ^ " KPMG
KPMG
wins International Tax Review 2010 Awards". KPMG
KPMG
China. 23 November 2010. * ^ "Tax - KPMG
KPMG
- CN". 24 May 2016. Retrieved 16 November 2016. * ^ "China: How China has developed its transfer pricing rules". International Tax Review. 23 March 2011. * ^ "Awards and Rankings - KPMG
KPMG
- CN". 27 July 2016. Retrieved 16 November 2016. * ^ "Awards and Rankings - KPMG
KPMG
- CN". 27 July 2016. Retrieved 16 November 2016. * ^ " KPMG
KPMG
Leads Big Four On Fortune’s List Of 100 Best Companies To Work For". Retrieved 18 April 2015. * ^ "KPMG". Consulting Magazine. Retrieved 12 November 2016. * ^ "PwC, Deloitte, KPMG
KPMG
and PA among top 25 UK companies to work for". www.consultancy.uk (in lblLang). Retrieved 2017-05-30. CS1 maint: Unrecognized language (link )

EXTERNAL LINKS

.