KPMG

KPMG
source
Name	KPMG
Type	Private
Industry	Professional services
Founded	1987
Founders	Piet Klijnveld, James Marwick, Roger Mitchell
Headquarters	Amstelveen, Netherlands
Key people	Bill Thomas (businessman), John Veihmeyer

KPMG is a multinational professional services company that provides audit, tax, and advisory services to clients across various industries, including financial services, healthcare, technology, and consumer goods. The company has a long history, dating back to the late 19th century, and has undergone significant transformations over the years, including the merger of Peat Marwick International and Klynveld Main Goerdeler in 1987. Today, KPMG is one of the Big Four accounting firms, along with Deloitte, Ernst & Young, and PricewaterhouseCoopers. The company has worked with numerous high-profile clients, including Microsoft, Coca-Cola, and Toyota.

● History

The history of KPMG dates back to 1897, when Piet Klijnveld founded an accounting firm in Amsterdam, Netherlands. In 1911, James Marwick and Roger Mitchell founded a separate accounting firm in New York City, which later became Marwick, Mitchell & Co.. Over the years, the firm underwent several mergers and acquisitions, including the merger with Peat Marwick International in 1987, which formed KPMG Peat Marwick. The company has also worked with notable individuals, such as Alan Greenspan, former chairman of the Federal Reserve, and Paul Volcker, former chairman of the Federal Reserve and President's Economic Recovery Advisory Board. KPMG has also been involved in various high-profile events, including the Enron scandal and the Global Financial Crisis.

● Services

KPMG provides a wide range of services to its clients, including audit and assurance, tax consulting, and advisory services. The company's audit and assurance services include financial statement audit, internal audit, and risk management. KPMG's tax consulting services include tax planning, tax compliance, and transfer pricing. The company's advisory services include management consulting, deal advisory, and cyber security. KPMG has worked with various organizations, such as the International Monetary Fund, the World Bank, and the European Union, to provide advisory services on issues like financial regulation and economic development. The company has also partnered with technology companies, such as IBM, Oracle, and SAP, to provide innovative solutions to its clients.

● Organization

KPMG is a private company, owned by its partners, and is governed by a global board of directors. The company is led by a global chairman, who is responsible for setting the overall strategy and direction of the firm. KPMG has a decentralized organizational structure, with various regional and country offices that operate independently. The company has a strong presence in various regions, including North America, Europe, Asia Pacific, and Latin America. KPMG has also established various industry groups, such as financial services, healthcare, and technology, to provide specialized services to its clients. The company has worked with notable organizations, such as the United Nations, the World Health Organization, and the International Labour Organization, to provide advisory services on issues like sustainable development and corporate social responsibility.

● Criticisms_and_controversies

KPMG has faced various criticisms and controversies over the years, including allegations of auditing failures and tax evasion. The company has been involved in several high-profile scandals, including the Enron scandal and the Lehman Brothers scandal. KPMG has also faced criticism for its role in tax avoidance and money laundering. The company has been fined and penalized by regulatory bodies, such as the Securities and Exchange Commission and the Financial Conduct Authority, for its alleged wrongdoing. KPMG has also been criticized by non-governmental organizations, such as Transparency International and the Tax Justice Network, for its alleged role in tax evasion and corruption. The company has worked with notable individuals, such as Joseph Stiglitz, Nobel laureate and former World Bank chief economist, to provide advisory services on issues like economic inequality and financial regulation.

● Global_reach_and_operations

KPMG has a global presence, with operations in over 150 countries and a workforce of over 200,000 employees. The company has a strong presence in various regions, including North America, Europe, Asia Pacific, and Latin America. KPMG has established various regional offices, such as KPMG Europe and KPMG Asia Pacific, to provide specialized services to its clients. The company has also established various country offices, such as KPMG US and KPMG UK, to provide localized services to its clients. KPMG has worked with various multinational corporations, such as Apple, Google, and Amazon, to provide advisory services on issues like global expansion and supply chain management. The company has also partnered with government agencies, such as the US Department of Commerce and the European Commission, to provide advisory services on issues like trade policy and regulatory compliance.