KPMG, All the Letters You Need to Know!
KPMG is one of the largest professional services companies in the world. It is a global network of independent firms that offer audit, tax, and advisory services to businesses, organizations, and governments.
The company was founded in 1987 through the merger of Klynveld Main Goerdeler (KMG), Peat Marwick International (PMI), and Mitchell Madison Group. KPMG is headquartered in Amstelveen, Netherlands and operates in over 150 countries worldwide. It is known for its strong expertise in accounting and finance and is widely respected for its professional services and high ethical standards.
KPMG's Full Form
KPMG is not an acronym, and it does not have a full form. The name KPMG is derived from the initials of the names of the three firms that merged to form the company: Klynveld Main Goerdeler (KMG), Peat Marwick International (PMI), and Mitchell Madison Group. Together, these three firms formed KPMG or Klynveld Peat Marwick Goerdeler, which has become one of the largest professional services companies in the world.
On this page
- History of KPMG
- What is KPMG most know for
- KPMGs core values
- KPMG global network
- KPMG in numbers
- Leadership at KPMG
History of KPMG
KPMG is one of the largest professional services companies in the world, and it has a long and rich history dating back to the late 1800s.
KPMG was founded in 1987 through the merger of Klynveld Main Goerdeler (KMG), Peat Marwick International (PMI), and Mitchell Madison Group.
Here is a timeline of key events in the history of KPMG:
- 1897: Piet Klynveld establishes Klynveld Main Goerdeler (KMG) in Amsterdam.
- 1897: James Marwick and William Mitchell establish Peat Marwick International (PMI) in London.
- 1981: Mitchell Madison Group, a US-based consulting firm, is founded.
- 1987: KMG, PMI, and Mitchell Madison Group merge to form KPMG.
- 1988: KPMG became the first international accounting firm to be granted a license to practice in China.
- 1991: KPMG became the first international accounting firm to be granted a license to practice in Russia.
- 1998: KPMG became the first international accounting firm to be granted a license to practice in India.
- 2003: KPMG became the first international accounting firm to be granted a license to practice in South Africa.
- 2011: KPMG became the first international accounting firm to be granted a license to practice in Saudi Arabia.
- 2012: KPMG became the first international accounting firm to be granted a license to practice in the United Arab Emirates.
- 2015: KPMG became the first international accounting firm to be granted a license to practice in Vietnam.
- 2017: KPMG launches its global strategy and vision, "Inspire Confidence, Empower Change."
- 2018: KPMG launches its global corporate responsibility platform, "We Care and Give Back."
- 2019: KPMG launches its global diversity and inclusiveness strategy, "Diverse Thinking, Better Outcomes."
- 2020: KPMG launches its global sustainability strategy, "Sustainable Solutions for a Better World."
Overall, KPMG has a long and rich history that spans more than 120 years. The company has consistently been at the forefront of the professional services industry and has a strong reputation for excellence and innovation.
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What is KPMG most known for
KPMG is a global professional services company that offers a wide range of services to businesses, organizations, and governments. Some of the services and solutions provided by KPMG include:
- Audit: KPMG's audit services help organizations assess their financial statements' accuracy, reliability, and compliance with relevant laws and regulations.
- Tax: KPMG's tax services help organizations minimize their tax burden, optimize their tax structure, and comply with tax laws and regulations.
- Advisory: KPMG's advisory services help organizations address complex business challenges and achieve their strategic goals. This includes consulting on strategy, operations, technology, and risk management.
- Management consulting: KPMG's management consulting services help organizations improve their performance and efficiency by providing expertise in business process improvement, change management, and organizational design.
- Risk consulting: KPMG's services help organizations identify, assess, and manage risks that may impact their operations, financial performance, or reputation.
- Financial advisory: KPMG's financial advisory services help organizations with financial restructuring, mergers and acquisitions, valuations, and other financial transactions.
- Digital services: KPMG's digital services help organizations leverage technology to drive growth and improve performance. This includes consulting on data analytics, artificial intelligence, and digital transformation.
Overall, KPMG's services and solutions are designed to help organizations improve performance, manage risks, and achieve strategic goals.
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KPMG's Core Values
KPMG is a global professional services company known for its strong commitment to ethical behaviour and high professional standards. The company's core values are essential to its culture and guide its business.
KPMG's core values are:
- Integrity: KPMG is committed to the highest ethical standards and acts with honesty, integrity, and transparency in all business activities.
- Excellence: KPMG strives for excellence in everything it does and is committed to continuous improvement and innovation.
- Courage: KPMG encourages its employees to take risks, be innovative, and speak up when they see something wrong.
- Collaboration: KPMG values teamwork and collaboration and believes working together is the key to success.
- Responsibility: KPMG takes its responsibilities seriously to its clients, people, and the communities in which it operates and works to make a positive impact.
KPMG Global Network
KPMG is a global professional services company operating in over 150 countries. It is a network of independent firms that offer audit, tax, and advisory services to businesses, organizations, and governments.
The KPMG global network comprises several member firms that are legally separate and independent entities. Each member firm is responsible for its actions and not for the actions of other member firms. However, the member firms of the KPMG global network are connected through shared values, standards, and practices, and they work together to deliver high-quality services to clients worldwide.
KPMG member firms operate in a wide range of industries and sectors, and they have expertise in various areas, including accounting and finance, audit and assurance, tax, consulting, and more. The KPMG global network also includes several specialized service lines that focus on specific industries or areas of expertise, such as healthcare, technology, and real estate.
Overall, the KPMG global network is a unique and influential global organization dedicated to delivering high-quality professional services to clients worldwide.
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KPMG in numbers
- KPMG has over 207,000 employees globally.
- KPMG serves clients in over 150 countries around the world.
- KPMG is a member of the Big Four accounting firms, along with Deloitte, EY, and PwC.
- KPMG is consistently ranked as one of the top professional services firms in the world, with a strong reputation for excellence and innovation.
- KPMG has a strong commitment to diversity and inclusion and has set a goal to have at least 30% of its leadership positions held by women by 2030.
- KPMG is committed to sustainability and has set several targets to reduce its environmental impact, including reducing carbon emissions by 35% by 2025.
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KPMG Leadership
KPMG is a global professional services company led by a team of experienced and talented executives. The leadership of KPMG is responsible for setting the company's strategic direction, overseeing its operations, and ensuring that it delivers high-quality services to its clients.
The current leadership team at KPMG includes the following:
- Lynne Doughtie: Lynne Doughtie is the US Chairman and CEO of KPMG. She is responsible for overseeing the operations of KPMG in the US and driving the company's growth and success.
- Bill Thomas: Bill Thomas is the Chairman and CEO of KPMG International, the global network of independent member firms that make up KPMG. He is responsible for leading the strategy and operations of KPMG International and driving the company's growth and success globally.
Overall, KPMG is led by a team of experienced and talented executives responsible for setting the company's strategic direction and overseeing its operations. They are committed to delivering high-quality professional services to clients worldwide and driving the company's growth and success.
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Summing up
As one of the largest professional services companies in the world, KPMG is a global network of independent firms that offer audit, tax, and advisory services to businesses, organizations, and governments. The company was founded in 1987 through the merger of Klynveld Main Goerdeler (KMG), Peat Marwick International (PMI), and Mitchell Madison Group.
Headquartered in Amstelveen, Netherlands, KPMG operates in over 150 countries worldwide. It is known for its strong expertise in accounting and finance and is widely respected for its professional services and high ethical standards. Visit our website to learn more about KPMG's full form.
If you would like to take leadership role, we recommend you to try the KPMG finance transformation course with us. On completion you get a dual certification from both AICPA and KPMG.
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