Seated in Amsterdam , [2] the Netherlands, KPMG employs , people [4] and has three lines of services: Its tax and advisory services are further divided into various service groups. The name "KPMG" stands for "Klynveld Peat Marwick Goerdeler. The organization's history spanned three centuries.

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In Ferdinand William LaFrentz founded the American Audit Co. In Thomson McLintock and Main LaFrentz merged forming McLintock Main LaFrentz International. Then in 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 the two firms settled on the common name of KPMG Peat Marwick McLintock but in the firm was renamed KPMG Peat Marwick, and in the name was reduced again to KPMG.

In KPMG divested its U. The UK and Dutch consulting arms were sold to Atos Origin in In KPMG divested itself of its legal arm, Klegal [19] and 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 Europe LLP in October 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.

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 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 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. 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 revenue shares are listed in parentheses: Tax arrangements relating to tax avoidance and multinational corporations and Luxembourg which were negotiated by KPMG became public in in the so-called Luxembourg Leaks.

In March 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.

KPMG was the preferred employer among the Big Four accounting firms according to CollegeGrad. In , KPMG in the UK was named the best big company to work for by The Times. This was the fourth consecutive year that KPMG has made the top three. In , in the UK, KPMG introduced a programme known as 'Flexible Futures'. The option remains open to the firm until October This facility has been invoked by the firm in some departments. KPMG publicised this as innovative and an alternative approach to redundancies.

However, over 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 , for the eighth year in a row, KPMG was named one of " Canada's Top Employers " by Mediacorp Canada Inc. In November , KPMG was also named one of Greater Toronto's Top Employers , which was announced by the Toronto Star newspaper.

It was reported in early that KPMG has about 11, staff in the UK and 9, 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 In , Fannie Mae sued KPMG for malpractice for approving years of erroneous financial statements. In February , KPMG Germany was investigated for ignoring questionable payments in the Siemens bribery case.

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.

According to an independent panel formed to investigate irregular payments made by Olympus which reported in December, KPMG's affiliate in Japan failed in its duty to uncover fraud.

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 HLF. N , Skechers SKX. N and other companies, to his friend, Bryan Shaw, a California jewelry-store owner. In , KPMG was accused by the Canada Revenue Agency of Tax evasion schemes. In , the Canada Revenue Agency was found to have offered an amnesty to KPMG clients caught using an offshore tax-avoidance scheme on the Isle of Man.

In , KPMG terminated five partners in its audit practice, including the head of its audit practice in the United States, after an investigation of advanced confidential knowledge of planned audit inspections by its regulator. KPMG fired or forced the retirement of over a dozen who were involved. Under the deferred prosecution agreement , KPMG LLP would not face criminal prosecution if it complied with the terms of its agreement with the government. On 3 January , the criminal conspiracy charges against KPMG were dropped.

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. In February , 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 Vancouver Olympics. Alexandre's father is a tax partner in the Montreal office. McLaren Formula 1 car has the KPMG logo engraved above the pilot seat.

From Wikipedia, the free encyclopedia. For other uses, see Roger Mitchell disambiguation. Not to be confused with KMPG. KPMG tax shelter fraud. A Guide to Historical Records. Michael Andrew Retiring as Chairman; Has 'Serious Medical Condition ' ".

Retrieved 13 June Retrieved 19 December New York State Society of Certified Public Accountants: Foundation of a Profession. Pittsburgh Daily Post, Pittsburgh, Pennsylvania. Retrieved 28 June Retrieved 28 January KPMG derived from predecessor company founders: Piet K lijnveld, William Barclay P eat, James M arwick, and Reinhard G oerdeler. Retrieved 5 September The New York Times. Retrieved 4 March Veihmeyer Selected Global Chairman Of KPMG".

Retrieved 6 October Retrieved 6 November Retrieved 18 January Archived from the original on 12 June KPMG offers 11, staff dramatic cut in hours to save jobs". Archived from the original on 24 April Retrieved 8 September The Wall Street Journal. Archived from the original on 7 December A Folly Unfolds, by the Numbers". Retrieved 11 September Retrieved 9 March Retrieved 18 April How Did Scott Marcello Fall From Grace?

Retrieved 24 February Retrieved 16 November How China has developed its transfer pricing rules". Retrieved 12 November Kearney Accenture Arthur D. 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. Management consulting Assurance services Audit Biotechnology consulting Economic consulting Financial adviser Human resource consulting Information technology consulting Performance consulting Public sector consulting Risk and strategic consulting Tax advisor.

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