What is KPMG?
What is KPMG?
KPMG stands for Klynveld, Peat, Marwick, and Goerdeler representing the names of four people who joined their separate accounting firms together to form a global firm. Today, KPMG is one of the ‘Big 4’ audit firms in the world along with Ernst & Young, Deloitte, and PwC. With its main office located in the Netherlands, and employing more than 130,000 people, KPMG provides the biggest professional services in the entire planet.
The KPMG firm’s beginnings started in 1870 with an accounting firm formed by William Barclay Peat in London. By 1911, this first accounting firm was able to merge with another firm in which James Marwick was a part of. By 1917 Piet Klynveld opened his own accounting firm in the Netherlands. Then in 1979 the “KMG” firm was born with the mergers of Klynveld’s firm from the Netherlands, Mclintocks firm from the US, and another German firm. Then in 1987, Peat Marwick’s firm joined in to officially merge four big accounting firms in the name of KPMG.
But aside from being an audit firm, KPMG is also involved in two other major services which are tax services and business advisory services. Through their auditing service, KPMG is able to help various organizations across the globe with their needs on financial statements and regulation schemes. Its tax services cater to both personal and business taxation concerns. Its business advisory service meanwhile caters to three different sectors of the business environment. These are growth, governance and performance. Through the advisory services provided by KPMG, businesses and organizations will be able to get help on various business transactions, impact of technological innovations, business restructuring, and even risks and compliance issues.
At present, KPMG has a wide network of member firms scattered in 150 countries in almost every corner of the world. And with this global network of the best firms in audit and professional services, KPMG is able to provide help to almost any business sector or industry.