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KPMG
KPMG
is a professional service company and one of the Big Four auditors, along with Deloitte, Ernst & Young (EY), and PricewaterhouseCoopers
PricewaterhouseCoopers
(PwC). Seated in Amstelveen, the Netherlands, KPMG
KPMG
employs 189,000 people[5] and has three lines of services: financial audit, tax, and advisory. Its tax and advisory services are further divided into various service groups. The name "KPMG" stands for "Klynveld Peat Marwick Goerdeler." It was chosen when KMG (Klynveld Main Goerdeler) merged with Peat Marwick in 1987.

Contents

1 History

1.1 Early years and mergers 1.2 Recent history

2 Global structure 3 Services 4 Community involvement and advocacy 5 Staff 6 Controversies

6.1 Various 6.2 Carillion 6.3 2017 South African corruption scandal 6.4 Tax shelter fraud

7 Sponsorship 8 Awards 9 See also 10 References 11 External links

History[edit] Early years and mergers[edit]

Current KPMG
KPMG
head office 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 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
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.[1] James Grace and James Grace Jr. bought John Moaxham & Co. and renamed it James Grace & Son in 1857.[1] In 1861 Henry Grace joined James Jr. and the company was renamed James & Henry Grace.[1] William Barclay Peat
William Barclay Peat
joined Robert Fletcher & Co. in London at 17 and became head of the firm in 1891, renamed William Barclay Peat
William Barclay Peat
& Co. by then.[6] In 1877 Thomson McLintock founded Thomson McLintock & Co in Glasgow.[6] In 1897 Marwick Mitchell & Co. was founded by James Marwick
James Marwick
and Roger Mitchell in New York City. In 1899 Ferdinand William LaFrentz founded the American Audit
Audit
Co., in New York.[7] On the other side of the Atlantic, in about 1913, Frank Wilber Main founded Main & Co. in Pittsburgh.[8] In March 1917 Piet Klijnveld and Jaap Kraayenhof opened an accounting firm called Klynveld Kraayenhof & Co. in Amsterdam.[6] In 1920 Philipp Derbyshire & Gerald Todd became partners in James & Henry Grace and it was renamed to Grace, Darbyshire, & Todd.[1] In 1923 The American Audit
Audit
Company was renamed FW LaFrentz & Co.[7] In 1925 William Barclay Peat
William Barclay Peat
& Co. and Marwick Mitchell & Co., merged to form Peat Marwick Mitchell & Company (later known simply as Peat Marwick).[9] 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.[1] In 1969 Thomson McLintock and Main LaFrentz merged forming McLintock Main LaFrentz International [10] and McLintock Main LaFrentz International absorbed the general practice of Grace, Ryland & Co.[1] 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.[6] In the United States, Main Lafrentz & Co. merged with Hurdman and Cranstoun to form Main Hurdman & Cranstoun.[11] 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.[6] 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
Netherlands
is the only country with two members of KPMG
KPMG
International: KPMG
KPMG
Audit
Audit
(accountants) and Meijburg & Co (tax consultants).[12] 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.[13] In October 1997, KPMG
KPMG
and Ernst & Young announced that they were to merge.[14][15] However, while the merger to form PricewaterhouseCoopers
PricewaterhouseCoopers
was granted regulatory approval, the KPMG/Ernst & Young tie-up was later abandoned.[16][17] Recent history[edit]

KPMG
KPMG
building in Kamloops, British Columbia

In 2001 KPMG
KPMG
divested its U.S. consulting firm through an initial public offering of KPMG
KPMG
Consulting Inc, which is now called BearingPoint, Inc.[18] In early 2009, BearingPoint
BearingPoint
filed for Chapter 11 bankruptcy protection.[19] The UK and Dutch consulting arms were sold to Atos Origin
Atos Origin
in 2002.[20] In 2003 KPMG
KPMG
divested itself of its legal arm, Klegal[21] and KPMG
KPMG
LLP sold its Dispute Advisory Services to FTI Consulting.[22] 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.[23][24] They appointed joint Chairmen, John Griffith-Jones and Ralf Nonnenmacher.[6] Global structure[edit] 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. KPMG
KPMG
International changed its legal structure from a Swiss Verein to a co-operative under Swiss law in 2003.[25] 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.[26] 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.[27] On 27 February 2014 it was announced that Michael Andrew was retiring as chairman due to illness [28] and that he would be succeeded by John B. Veihmeyer,[29] 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.[30] Services[edit] KPMG
KPMG
is organised into the following three service lines (the 2016 revenue shares are listed in parentheses):[5]

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.[31] Community involvement and advocacy[edit] In March 2017 KPMG
KPMG
launched a campaign designed to encourage more women to pursue careers in technology-based professions.[32] Staff[edit] The US branch of KPMG
KPMG
was rated one of the top 10 companies for working mothers.[33] It was also ranked No. 12 on Fortune Magazine's 2017 list of 100 Best Companies to Work For, voted for by employees.[34] KPMG
KPMG
was the preferred employer among the Big Four accounting firms according to CollegeGrad.com.[35] It was also ranked No. 4 on the list of "50 Best Places to Launch a Career" in 2009 according to BusinessWeek.[36] 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
had made the top three.[37] 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 remained 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.[38] 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.[39] 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 would overtake that of the UK by the end of 2013.[40] KPMG's Innovation Lab is based out of a WeWork in New York City.[41] Controversies[edit] Various[edit] 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.[42] In 2004, KPMG
KPMG
agreed to pay $115 million to settle lawsuits stemming from the collapse of software company Lernout & Hauspie Speech Products NV.[43][44] In 2006, Fannie Mae
Fannie Mae
sued KPMG
KPMG
for malpractice for approving years of erroneous financial statements.[45] In February 2007, KPMG
KPMG
Germany was investigated for ignoring questionable payments in the Siemens
Siemens
bribery case.[46] In November 2008, the Siemens
Siemens
Supervisory Board recommended changing auditors from KPMG
KPMG
to Ernst & Young.[47] In March 2008, KPMG
KPMG
was accused of enabling "improper and imprudent practices" at New Century Financial, a failed mortgage company,[48] and KPMG
KPMG
agreed to pay $80 million to settle suits from Xerox shareholders over manipulated earnings reports.[49] It was announced in December 2008 that two of Tremont Group’s Rye Select funds, audited by KPMG, had $2.37 billion invested with the Madoff "Ponzi scheme."[50] Class action suits were filed.[51] In August 2010, 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.[52] In August 2011, KPMG
KPMG
conducted due diligence work on Hewlett Packard's $11.1 billion acquisition of the British software company Autonomy. In November 2012 HP announced an $8.8 billion write off due to "serious accounting improprieties" committed by Autonomy management prior to the acquisition.[53][54] According to an independent panel formed to investigate irregular payments made by Olympus which reported in December 2011, KPMG's affiliate in Japan did not identify fraud at the company.[55] In April 2013, Scott London, a former KPMG
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 (HLF.N), Skechers (SKX.N), and other companies, to his friend Bryan Shaw, a California jewelry-store owner. In return Shaw gave London $60,000 as well as gifts that included a $12,000 Rolex watch.[56] On 6 May Shaw agreed to plead guilty to one count of conspiracy to commit securities fraud. 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.[57] This scandal led KPMG
KPMG
to resign as auditor for two companies.[58] In 2015, KPMG
KPMG
was accused by the Canada Revenue Agency
Canada Revenue Agency
of tax evasion schemes: "The CRA alleges that the KPMG
KPMG
tax structure was in reality a 'sham' that intended to deceive the taxman."[59] In 2016, the Canada Revenue Agency
Canada Revenue Agency
was found to have offered an amnesty to KPMG
KPMG
clients caught using an offshore tax-avoidance scheme on the Isle of Man.[60] In 2017, KPMG
KPMG
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.[61][62] This followed criticism about KPMG's failure to uncover illegal sales practices at Wells Fargo
Wells Fargo
or potential corruption at FIFA, the governing international body of soccer.[62] It was reported in 2017 that KPMG
KPMG
had the highest number of deficiencies, among the Big Four, cited by its regulator in the previous two years.[63] In 2017, KPMG
KPMG
paid a $6.2 million fine to the US Securities and Exchange Commission for inadequacies in its audit of the financial statements of oil and gas company, Miller Energy Resources.[64] In November 2017, 91 partners of KPMG
KPMG
faced contempt proceedings in Hong Kong High Court, as China Medical Technologies
China Medical Technologies
(CMED) liquidators investigating a $400 million fraud took action against KPMG
KPMG
with regard to its refusal honor a February 2016 court order to produce Chinese working papers, correspondence, and records to the liquidators.[65][66][67][68][69] The liquidators are asking that 91 defendants be held in contempt of court, which could result in criminal penalties, or weekly fines.[65] KPMG
KPMG
had issued written audit reports for CMED from 2003 to 2008, and was replaced by PwC
PwC
Zhong Tian in August 2009.[66] “Perhaps locking up 91 KPMG
KPMG
partners over Christmas may spur the firms to find a solution to this problem”, said Professor Paul Gillis of Peking University’s Guanghua School of Management.[65] Carillion[edit] In January 2018 it was announced that KPMG, auditor of collapsed UK construction firm Carillion, would have its role examined by the Financial Reporting Council,[70] and it was summoned to give evidence before two House of Commons select committees on 22 February 2018.[71] 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
Carillion
work during the years leading up to its collapse.[72] KPMG
KPMG
was singled out for particular criticism for signing off Carillion's last accounts before a profit warning in July 2017: "Either KPMG
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.[72] Two out of three former Carillion
Carillion
finance directors had also worked for KPMG.[72] KPMG
KPMG
defended itself, saying that in the construction industry "an accumulation of adverse events [...] can quite quickly cause a precipitous decline." KPMG
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."[72] On 22 February 2018, MPs contested evidence from KPMG
KPMG
(in one exchange MP Peter Kyle told KPMG
KPMG
partner Peter Meehan: "I would not hire you to do an audit of the contents of my fridge").[73] 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
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
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
Carillion
being driven off a cliff."[74]

2017 South African corruption scandal[edit] See also: Gupta family
Gupta family
§ Uranium interests, Nhlanhla Nene, Pravin Gordhan
Pravin Gordhan
and KPMG In 2017, KPMG
KPMG
was embroiled in related scandals involving the Gupta family.[75] KPMG, whose history in South Africa dated back to 1895, and which had been part of the international organization since its founding in 1979,[76] 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.[77][78] KPMG
KPMG
had been working with a Gupta family
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
KPMG
received is yet to be determined;[79] however, at least one large company has terminated its services with KPMG
KPMG
due to its relationship with Oakbay.[80] In July 2017, after controversial documents were leaked by the amaBhungane Centre for Investigative Journalism, former chief executive of KPMG
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.[81][82] In 2015, KPMG
KPMG
issued a controversial report that implicated former Finance Minister Pravin Gordhan
Pravin Gordhan
in the creation of an illegal intelligence gathering unit of the South African Revenue Service (SARS). This report was seen by elements of the media to be part of a wider Gupta-linked state capture conspiracy, with the aim of forcing Gordhan out of his post.[83] The report was withdrawn by KPMG
KPMG
in September 2017,[84] earning the ire of the Commissioner of SARS, Tom Moyane.[85] 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.[86][87] Save South Africa, a civil-society group, accused KPMG
KPMG
and UK PR firm Bell Pottinger
Bell Pottinger
of playing a "central role in facilitating state capture."[88] Numerous South African companies either fired KPMG
KPMG
in the immediate aftermath of the scandal, or were reconsidering their relationships with the firm [89] with the international chairman of KPMG, John Veihmeyer, apologising for the conduct of the South African arm[90] and the firm pledged to donate fees earned from Gupta businesses, as well as the withdrawn SARS report to anti-corruption activities.[91] Tax shelter fraud[edit] Main article: KPMG
KPMG
tax shelter fraud In 2003, the IRS issued summonses to KPMG
KPMG
for information about certain tax shelters and their investors.[92] In February 2004, the US Justice Department commenced a criminal inquiry.[92] The United States member firm, KPMG
KPMG
LLP, was accused by the United States Department of Justice of fraud in marketing abusive tax shelters. KPMG
KPMG
fired or forced the retirement of over a dozen who were involved.[93] KPMG
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, KPMG
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
KPMG
were dropped.[94] Sponsorship[edit]

KPMG
KPMG
Europe headquarters in the Squaire building at 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.[95]

Phil Mickelson
Phil Mickelson
wearing KPMG
KPMG
hat

In February 2008, 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.[96] 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.[97][98] 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.[99] Awards[edit]

No.2 in the 2011 World's Best Outsourcing
Outsourcing
Advisors – in recognition of the firm's depth of experience, global reach and holistic approach.[100] 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.[33] 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.[101][102] KPMG's global transfer pricing services in China and Hong Kong is headed by Chi Cheng.[103][104] Top 2 overall in Consultancy Rankings 2009 by OpRisk & Compliance – in recognition of KPMG's experience in risk management.[105] World's most attractive employers, 2010 – First of the Big Four.[106] KPMG
KPMG
Leads all the Big Four professional services giant firms (namely Deloitte, PWC and Ernst & Young) on Fortune list of 100 best companies to work for.[107] Ranked number 13 in Consulting Magazine's Best Firms to Work for 2016[108] KPMG, along with PwC, Deloitte, and PA Consulting Group, were among the UK's 25 top companies to work for in 2017.[109]

See also[edit]

Companies portal

KPMG
KPMG
people Gupta Family

References[edit]

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partners face court contempt over China audit," Reuters. ^ " KPMG
KPMG
partners face court contempt proceedings in Hong Kong over China audit; The accounting firm has refused to hand over audit papers relating to China Medical Technologies
China Medical Technologies
despite a 2016 court order," South China Morning Post, 20 December 2017. ^ "Timeline: U.S., HK regulators struggle to get China audit papers," Reuters, 20 December 2017. ^ "Contempt hit looms for KPMG," The Standard, 21 December 2017. ^ " Carillion
Carillion
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KPMG
faces scrutiny for approving books months before collapse". The Telegraph. 15 January 2018. Retrieved 20 January 2018.  ^ "Committees publish responses from Big Four on Carillion". UK Parliament. 13 February 2018. Retrieved 13 February 2018.  ^ a b c d Davies, Rob (13 February 2018). "Carillion: accountants accused of 'feasting' on company". Guardian. Retrieved 13 February 2018.  ^ Marriage, Madison (22 February 2018). "MPs turn fire on KPMG
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KPMG
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over 'Gupta links'". Mail & Guardian. Retrieved 30 August 2017.  ^ Wessels, Vernon (3 July 2017). "Ex- KPMG
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KPMG
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External links[edit]

Wikimedia Commons has media related to KPMG.

Official website

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Big Four auditors

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Consulting

Firms

Management

A.T. Kearney Accenture Arthur D. Little Atos
Atos
Consulting Bain & Company BearingPoint Booz Allen Hamilton Boston Consulting Group Capgemini
Capgemini
Consulting Deloitte
Deloitte
(Monitor Deloitte) Ernst & Young (Parthenon) Gallup Huron Consulting Group KPMG L.E.K. Consulting Marsh & McLennan Companies (Oliver Wyman) McKinsey & Company PA Consulting Group PricewaterhouseCoopers
PricewaterhouseCoopers
(Strategy&) Roland Berger

Finance

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IT

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Infosys
Consulting iResearch Consulting Group PA Consulting Group Protiviti Slalom Consulting Sogeti Sopra Steria Tata Consultancy Services Unisys

HR

Aon (Aon Hewitt) Buck Consultants Hay Group Marsh & McLennan Companies (Mercer) Robert Half International Towers Watson

Defunct/Merged

Accenture
Accenture
(Kurt Salmon) Aon Hewitt
Aon Hewitt
(Hewitt Associates) Arthur Andersen DXC Technology
DXC Technology
( Hewlett Packard
Hewlett Packard
Enterprise * CSC) Ernst & Young (Ernst & Ernst * Arthur Young & Co. * Ernst & Whinney) PricewaterhouseCoopers
PricewaterhouseCoopers
(Price Waterhouse * Coopers & Lybrand)

People

Founders

James L. Allen Arthur E. Andersen Bill Bain Roland Berger Edwin G. Booz Marvin Bower William Welch Deloitte Alwin C. Ernst Bruce Henderson Piet Klijnveld Arthur Dehon Little James Marwick James O. McKinsey Michael Porter Arthur Young

MDs/CEOs

Dominic Barton Charles-Édouard Bouée Orit Gadiesh Rich Lesser Punit Renjen Mark Weinberger Pierre Nanterme Paul Hermelin

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Others

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List of management consulting firms List of IT consulting firms

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Major information technology consulting and outsourcing companies

Companies with an annual revenue of over US$3 billion

Accenture Atos Booz Allen Hamilton BMC Software BT Global Services CACI Capgemini CGI Group Cognizant Deloitte Digital China DXC Technology Fujitsu HCL Technologies Hitachi Consulting IBM Global Services Indra Sistemas Infosys Infor KPMG Leidos NEC NTT Data Orange Business Services T-Systems Tata Consultancy Services Tech Mahindra Unisys Wipro

See also Largest IT companies Category: Information technology consulting firms Category: Outsourcing
Outsourcing
companies

v t e

Madoff investment scandal

Overview Frank DiPascali David G. Friehling Bernard Madoff Shana Madoff Harry Markopolos Participants Irving Picard Recovery of funds Eric Swanson United States v. Jerome O'Hara and George Perez

No One Would Listen: A True Financial Thriller Chasing Madoff Imagining Madoff Madoff (miniseries) The Wizard of Lies
The Wizard of Lies
(film)

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Great Recession

By region

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Asia Europe Oceania

United States-specific

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Banking losses and fraud

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Government entities

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Government policy and spending responses

Banking and finance stability and reform

Anglo Irish Bank Corporation Act 2009 Banking ( Special
Special
Provisions) Act 2008 China–Japan–South Korea trilateral summit Commercial Paper Funding Facility Dodd–Frank Wall Street Reform and Consumer Protection Act Emergency Economic Stabilization Act of 2008 Irish emergency budget, 2009 Irish budget, 2010 Irish budget, 2011 Irish budget, 2012 Irish budget, 2013 Temporary Liquidity Guarantee Program Term Asset-Backed Securities Loan Facility Troubled Asset Relief Program 2008 United Kingdom bank rescue package

Bank stress tests

EU U.S.

Stimulus and recovery

2008 European Union stimulus plan 2008–09 Keynesian resurgence American Recovery and Reinvestment Act of 2009 Chinese economic stimulus program Economic Stimulus Act of 2008 Fraud Enforcement and Recovery Act of 2009 Green New Deal Housing and Economic Recovery Act of 2008 National fiscal policy response to the Great Recession Zero interest-rate policy

Government interventions, rescues, and acquisitions

List of banks acquired or bankrupted during the Great Recession

Non-banking

Chrysler General Motors

Securities involved and financial markets

Auction rate securities Collateralized debt obligations Collateralized mortgage obligations Credit default swaps Mortgage-backed securities Secondary mortgage market

Social responses

Tea Party protests
Tea Party protests
(United States; c. 2009) May Day protests (Europe, Middle East and North Africa, Asia; 2009) Occupy movement
Occupy movement
(worldwide)

Related topics

2000s energy crisis

Central Asia: 2008

Effects on museums Decline of newspapers World food price crisis

European debt crisis Financial crisis of 2007–08 List of countr

.