KPMG is a professional service company and one of the Big Four auditors , along with Deloitte , Ernst "> Current KPMG headoffice in Amstelveen, The Netherlands 15 Canada Square in Canary Wharf, London. The headquarters of KPMG in the UK. Peat Marwick logo Headquarters of KPMG LLP, the United States-based member firm of KPMG International, at 345 Park Avenue, New York City The 34-story KPMG Tower on De Maisonneuve Boulevard in Montreal The KPMG Tower at 355 South Grand Avenue in Los Angeles KPMG offices at 150 West Jefferson in Detroit 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 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 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 in the US, and most of the rest of the world, and Peat Marwick McLintock in the UK.
In October 1997, KPMG and Ernst & Young announced that they were to merge. However, while the merger to form PricewaterhouseCoopers was granted regulatory approval, the KPMG/Ernst "> KPMG building in Kamloops , British Columbia
In 2001 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 in 2002.
KPMG's member firms in the United Kingdom, Germany, Switzerland and Liechtenstein merged to form 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.
Each national KPMG firm is an independent legal entity and is a member of KPMG International Cooperative, a Swiss entity registered in the Swiss Canton of Zug . 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 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 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 is registered as a multidisciplinary entity which also provides legal services.
KPMG is organised into the following three service lines (the 2016 revenue shares are listed in parentheses):
* Audit (40%) * Advisory (38%) * Tax (22%)
COMMUNITY INVOLVEMENT AND ADVOCACY
In March 2017 KPMG launched a campaign designed to encourage more women to pursue careers in technology-based professions.
The US branch of 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 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, in the UK, 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 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 of being hypocritical in the message that they were given.
In October 2010, for the eighth year in a row, 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 was also named one of Greater Toronto\'s Top Employers , which was announced by the Toronto Star newspaper.
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 will overtake that of the UK by the end of 2013.
In February 2007, KPMG Germany was investigated for ignoring questionable payments in the Siemens bribery case. In November 2008, the Siemens Supervisory Board recommended changing auditors from KPMG to Ernst "> 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 office parallel to her athletic career. Phil Mickelson Wearing 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 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 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 logo engraved above the pilot seat.
* 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 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 Leads all the Big Four professional services giant firms (namely Deloitte, PWC and Ernst border:solid #aaa 1px">
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