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Encyclopedia > KPMG
KPMG
Type Swiss Cooperative
Founded 1987; individual components from 1870
Headquarters Amsterdam, Netherlands
Key people Tim Flynn, Chairman
Industry Professional services
Products Audit
Tax
Advisory
Revenue $16.9 billion USD (2006)
Employees 113,000
Website www.kpmg.com

KPMG is one of the largest professional services firms in the world. KPMG employs 113,000 people in a global network spanning 148 countries. Composite revenues of KPMG member firms in 2006 were $16.9 billion USD (7.6% growth from 2005). KPMG has three lines of services: audit services, tax services, and advisory services. KPMG is a Big Four auditor, alongside PricewaterhouseCoopers, Ernst & Young and Deloitte Touche Tohmatsu. Year 1987 (MCMLXXXVII) was a common year starting on Thursday (link displays 1987 Gregorian calendar). ... 1870 (MDCCCLXX) was a common year starting on Saturday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Monday of the 12-day slower Julian calendar). ... Municipality of Amsterdam Alternate meanings: See Amsterdam (disambiguation) Amsterdam is the capital of the Netherlands. ... Professional Services are infrequent, technical, or unique functions performed by independent contractors or consultant whose occupation is the rendering of such services. ... A financial audit, or more accurately, an audit of financial statements, is the examination by an independent third party of the financial statements of a company or any other legal entity (including governments), resulting in the publication of an independent opinion on whether or not those financial statements are relevant... “Taxes” redirects here. ... This article does not cite any references or sources. ... Look up revenue in Wiktionary, the free dictionary. ... Image File history File links No higher resolution available. ... ISO 4217 Code USD User(s) the United States, the British Indian Ocean Territory,[1] the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 2. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ... This article is about work. ... A website (alternatively, Web site or web site) is a collection of Web pages, images, videos and other digital assets that is hosted on one or several Web server(s), usually accessible via the Internet, cell phone or a LAN. A Web page is a document, typically written in HTML... Professional Services are infrequent, technical, or unique functions performed by independent contractors or consultant whose occupation is the rendering of such services. ... A financial audit, or more accurately, an audit of financial statements, is the examination by an independent third party of the financial statements of a company or any other legal entity (including governments), resulting in the publication of an independent opinion on whether or not those financial statements are relevant... “Taxes” redirects here. ... This article does not cite any references or sources. ... The Big 4, sometimes written as the Big Four, is a group of international accountancy and professional services firms that handles the vast majority of audits for publicly traded companies as well as many private companies. ... A PwC office building (Southwark Towers) in London, England. ... Ernst & Young is one of the largest professional services firms in the world, and one of the Big Four auditors, along with PricewaterhouseCoopers (PwC), Deloitte Touche Tohmatsu (Deloitte) and KPMG. Ernst & Young is a global organization consisting of many member firms. ... Deloitte & Touche (also referred to as Deloitte Touche Tohmatsu, and branded as Deloitte. ...

Contents

Name

The name of the firm, KPMG, is not actually an initialism. However, the roots of the name stem from four partners in the firms that merged to form KPMG.

This article or section does not cite its references or sources. ... Piet Klynveld An entrepreneurial, Piet Klynveld opened his small accountancy practice in 1917 in Amsterdam, Holland, a bustling trade and investment hub for European and Asian industrialists. ... For other uses, see Amsterdam (disambiguation). ... 1917 (MCMXVII) was a common year starting on Monday of the Gregorian calendar (see link for calendar) or a common year starting on Tuesday of the 13-day slower Julian calendar (see: 1917 Julian calendar). ... William Barclay Peat & Co. ... This article or section does not cite its references or sources. ... This article is about the capital of England and the United Kingdom. ... 1870 (MDCCCLXX) was a common year starting on Saturday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Monday of the 12-day slower Julian calendar). ... This article or section does not cite its references or sources. ... New York, New York and NYC redirect here. ... 1897 (MDCCCXCVII) was a common year starting on Friday (see link for calendar). ...

History

The Peat Marwick logo.
The KPMG logo used by member firms in the 1990s.
  • In 1870, William Barclay Peat formed an accounting firm in London
  • In 1877 accountancy firm Thomson McLintock opens in Glasgow
  • In 1911, William Barclay Peat & Co. and Marwick Mitchell & Co. merged to form what would later be known as Peat Marwick International (PMI).
  • In 1979, Thomson McLintock forms KMG (Klynveld Main Goerdeler) a grouping of independent national practices to create a strong European-based international firm.
  • In 1987 Thomson McLintock/KMG and Peat Marwick joined forces in the first mega-merger of large accounting firms and formed KPMG.
  • In 1997, KPMG and Ernst & Young announced that they were to merge, in a manoeuvre largely seen as a spoiling tactic over the merger of Price Waterhouse and Coopers & Lybrand. However that merger, to form PricewaterhouseCoopers, was granted regulatory approval while the KPMG/Ernst & Young tie-up was later abandoned.
  • In 2001, KPMG divested its U.S. consulting firm through an IPO of KPMG Consulting Inc, which is now called BearingPoint, Inc.. A song that was produced for KPMG, "Our Vision of Global Strategy", experienced a brief period of Internet notoriety.
  • In 2002, the UK and Dutch consulting arms were sold to Atos Origin.
  • In 2003, KPMG divested itself of its legal arm, Klegal.
  • In 2005, the U.S. member firm admitted criminal wrongdoing in a multi-billion dollar tax shelter fraud.
  • In 2006, KPMG’s member firms in the UK and Germany proposed to merge and form a single entity, KPMG Europe LLP. With a projected turnover for the UK and German firms in excess of £2 billion in 2009, KPMG Europe LLP will most likely be the largest fully integrated accountancy firm in Europe.

Image File history File links PeatMarwick. ... Image File history File links PeatMarwick. ... Image File history File links KPMG_old. ... Image File history File links KPMG_old. ... 1870 (MDCCCLXX) was a common year starting on Saturday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Monday of the 12-day slower Julian calendar). ... This article or section does not cite its references or sources. ... Accountancy (profession) or accounting (methodology) is the measurement, disclosure or provision of assurance about financial information primarily used by managers, investors, tax authorities and other decision makers to make resource allocation decisions within companies, organizations, and public agencies. ... This article is about the capital of England and the United Kingdom. ... 1877 (MDCCCLXXVII) was a common year starting on Monday (see link for calendar). ... Year 1911 (MCMXI) was a common year starting on Sunday (link will display the full calendar) of the Gregorian calendar (or a common year starting on Saturday of the 13-day-slower Julian calendar). ... William Barclay Peat & Co. ... Also: 1979 by Smashing Pumpkins. ... Year 1987 (MCMLXXXVII) was a common year starting on Thursday (link displays 1987 Gregorian calendar). ... For the band, see 1997 (band). ... Ernst & Young is one of the largest professional services firms in the world, and one of the Big Four auditors, along with PricewaterhouseCoopers (PwC), Deloitte Touche Tohmatsu (Deloitte) and KPMG. Ernst & Young is a global organization consisting of many member firms. ... ... Coopers & Lybrand was an accounting firm which merged in 1998 with Price Waterhouse to form PricewaterhouseCoopers. ... A PwC office building (Southwark Towers) in London, England. ... Year 2001 (MMI) was a common year starting on Monday (link displays the 2001 Gregorian calendar). ... Wikipedia does not yet have an article with this exact name. ... It has been suggested that BearingPoint Infonova be merged into this article or section. ... BearingPoint, Inc. ... The Hampster Dance is one of the first widely distributed Internet Memes and illustrates the characteristic silliness of the genre. ... Also see: 2002 (number). ... Atos Origin, SA (Euronext: ATO) is an international IT corporation which operates in more than 50 countries worldwide, with about 47,000 employees. ... Year 2003 (MMIII) was a common year starting on Wednesday of the Gregorian calendar. ... Year 2005 (MMV) was a common year starting on Saturday (link displays full calendar) of the Gregorian calendar. ... The KPMG tax shelter fraud scandal involves allegedly illegal U.S. tax shelters by KPMG that were exposed beginning in 2003. ... Year 2006 (MMVI) was a common year starting on Sunday of the Gregorian calendar. ...

Legal structure and executives

Each national KPMG firm is an independent legal entity and is a member of KPMG International, a Swiss cooperative registered in the Swiss Canton of Zug. KPMG International changed its legal structure from a Swiss Verein to a cooperative under Swiss law in 2003.[1] For cooperative as used in biochemistry, see cooperative binding. ...   (-German; French: Zoug; Italian: Zugo) is one of the 26 cantons of Switzerland. ... A Swiss Verein (German for association) is a business organization consisting of a number of independent offices, each of which has limited liability vis a vis the others. ... For cooperative as used in biochemistry, see cooperative binding. ...


KPMG International is led by:

  • Sir Michael Rake, Chairman, Senior Partner of KPMG in the United Kingdom. Timothy P. Flynn, Chairman and CEO of KPMG LLP, should become the next chairman as for October, 1st of 2007, since Michael Rake will manage BT Group plc as chairman ;
  • Carlson Tong and John B. Harrison, Chairman-Asia Pacific Region, Partner of KPMG in China and Hong Kong;
  • Timothy P. Flynn, Chairman-Americas Region, Chairman of KPMG in the United States;
  • Ben van der Veer, Chairman-Europe, Middle East and Africa Region, Chairman of KPMG in the Netherlands.

Audit clients

KPMG member firms serve as the independent auditors for a large number of major corporations:

Accenture (NYSE: ACN, ISIN: BMG1150G1116) is a global management consulting, technology services and outsourcing company. ... Gartner, Inc. ... The Shaw Group is a Fortune 500[1] corporation headquartered in Baton Rouge, Louisiana. ... Lend Lease Corporation Limited is an Australian-based multinational property management and investment company. ... AMEC plc (LSE: AMEC) is a British company, headquartered in London. ... The Netherlands Carillon in Arlington, Virginia, USA A carillon is a keyboard percussion instrument composed of a range of bells controlled by a keyboard. ... KBR (formerly Kellogg Brown and Root) is an American engineering and construction company, formerly a subsidiary of Halliburton, based in Houston. ... Tishman Speyer Properties is a leading real estate building and operating company set up in 1978 by two founding partners, Jerry Speyer and Robert Tishman. ... Jones Lang LaSalle is a leading global provider of integrated real estate and money management services. ... Devon Energy Corporation (NYSE: DVN), headquartered in Oklahoma City, Oklahoma, USA, is a Fortune 500 company. ... Citgo Petroleum Corporation or Citgo, a subsidiary of Petróleos de Venezuela S.A., the Venezuelan state-owned petroleum company, is a United States-incorporated firm refiner and marketer of gasoline, lubricants, petrochemicals and other petroleum products. ... Halliburton Energy Services (NYSE: HAL) is a multinational corporation with operations in over 120 countries. ... LUKOIL (RTS:LKOH LSE: LKOD NASDAQ: LUKOY) (Russian: ; pronounced Luke-Oil) is Russias largest oil company and its largest producer of oil. ... Murphy Oil Corporation NYSE: MUR is a petroleum corporation. ... Oxy headquarters in Westwood, CA Occidental Petroleum Corporation (Oxy) NYSE: OXY is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. ... Petrobras, short for Petróleo Brasileiro S.A., is a government-owned Brazilian oil company headquartered in Rio de Janeiro. ... Reliant Energy, Inc. ... Sinopec, the China Petroleum and Chemical Corporation (Chinese: 中国石化, HKEX: 386; NYSE: SNP; LSE: SNP), is one of the major petroleum companies in China. ... Husky is a general term for several breeds of dogs used as sled dogs. ... TransCanada Pipelines (TSX: TRP) owns many of Canadas natural gas pipelines, and is expanding the business to include a growing number of electrical generating assets. ... Valero Energy Corporation (NYSE: VLO) is based in San Antonio, Texas and is one of the leading U.S. refining companies. ... ABN AMRO (Euronext: AAB, NYSE: ABN) is one of the largest banks in Europe and has operations all over the world. ...   SE[1], (ISIN: DE0008404005; IPA pronunciation: [alliˈanʦ], and formerly AG) is a large financial service provider headquartered in Munich, Germany. ... The Allstate Corporation NYSE: ALL is the largest publicly held personal lines insurer in the United States. ... American Express (NYSE: AXP), sometimes known as AmEx or Amex, is a diversified global financial services company, headquartered in New York City. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Citigroup Inc. ... Countrywide Financial Corporation (NYSE: CFC) is a diversified financial marketing and service holding company engaged primarily in residential mortgage banking and related businesses. ... The Credit Suisse Group (SWX:CSGN, NYSE: CS) is a financial services company, headquartered in Zürich, Switzerland. ... Deutsche Bank AG (ISIN: DE0005140008, NYSE: DB) (English: ) is a bank operating worldwide and employing more than 75,000 people (June, 2007). ... Deutsche Börse Group LSE: DHE is a marketplace organizer for the trading of shares and other securities. ... The 1978 Silver Tower houses part of the head office of the Dresdner bank. ... The company first opened as the Guaranty Bank and Trust Company in 1920, founded by a University of Texas law school alumnus named Eugene DeBogory. ... Hang Seng Bank Limited(恒生銀行有限公司) HKEx: 0011 or Hang Seng Bank (恒生銀行) is the second largest bank in Hong Kong. ... Group headquarters on The Mound, Edinburgh HBOS Office at Trinity Road, Halifax HBOS plc (LSE: HBOS) is a banking and insurance group in the United Kingdom, the holding company for Halifax plc and the Governor and Company of the Bank of Scotland. ... H&R Block (NYSE: HRB) is the leading tax preparation company in the United States, and claims more than 22 million customers worldwide, with offices in Canada, Australia and the United Kingdom. ... For other uses, see HSBC (disambiguation). ... International Bank of Commerce is a fully chartered bank that is headquarter in Laredo, Texas. ... ING House, ING headquarters in Amsterdam ING Groep N.V. (NYSE: ING, Euronext: INGA) (known as ING Group) is a financial institution of Dutch origin offering banking, insurance and investment management services. ... Legg Mason, which is headquartered in Baltimore, is a global asset management firm with $969 billion in assets under management around the world. ... MassMutual Financial Group, best known as the Massachusetts Mutual Life Insurance Company, is a major financial services corporation. ... Headquarters in Munich Munich Re AG, in German Münchener Rück AG, is one of the worlds largest reinsurance companies with over 5000 customers in 160 countries and has its headquarters in Munich, Germany. ... Nationwide Mutual Insurance Company & Affiliated Companies is a group of large U.S. insurance and financial services companies based in Columbus, Ohio. ... Old Mutual is a South African insurance company. ... This article needs to be cleaned up to conform to a higher standard of quality. ... Standard Chartered Bank (LSE: STAN, SEHK: 2888) is a British bank headquartered in London with operations in more than fifty countries. ... VISA is a brand of credit card operated by the VISA International Service Association of San Francisco, California, USA owned by 21,000 financial institutions that issues and markets its own Visa products. ... One Wachovia Tower headquarters in Charlotte, North Carolina Wachovia Corporation (NYSE: WB), based in Charlotte, North Carolina is one of the largest banking chains in the United States. ... An older Wells Fargo branch, located in Berkeley, California Wells Fargos corporate headquarters and main branch Wells Fargo & Co. ... St. ... CPS Energy of San Antonio, Texas (formerly City Public Service, aka CPS) is one of the nations largest municipally owned utilities, contributing to over 20% of the citys annual operating budget. ... Nickname: Location in the state of Texas Coordinates: Counties Bexar County Government  - Mayor Phil Hardberger Area  - City  412. ... The Georgia Lottery is the statewide lottery in the U.S. state of Georgia. ... ... State nickname: Land of Lincoln, The Prairie State Other U.S. States Capital Springfield Largest city Chicago Governor Rod Blagojevich (D) Official languages English Area 149,998 km² (25th)  - Land 143,968 km²  - Water 6,030 km² (4. ... Ansell Limited (formerly Pacific Dunlop Limited) is a multinational company specialising in Health care. ... Caremark Rx was founded in 1993 in Birmingham, Alabama as MedPartners Inc. ... The mission of the Kaiser Foundation is to assist individuals and communities in preventing and reducing the harm associated with problem substance use and addictive behaviours. ... This article is about the German chemical company. ... This article or section does not cite its references or sources. ... For other uses, see BMW (disambiguation). ... Cemex SA de CV (NYSE: CX) is the worlds third largest manufacturer of cement[1] and the worlds leading supplier of ready-mix concrete. ... DaimlerChrysler AG (ISIN: DE0007100000) is a German car corporation and the worlds eighth largest car manufacturer. ... “GE” redirects here. ... This article is about the Japanese motor corporation. ... Matsushita Electric Industrial Co. ... Mitsubishi Electric Corporation ) (TYO: 6503 ) is a Japanese company based in the Tokyo Building in Tokyo, manufactures electric and architectural equipment, as well as a major worldwide producer of photovoltaic panels. ... It has been suggested that International Harvester be merged into this article or section. ... “Siemens” redirects here. ... Weyerhaeuser is one of the largest pulp and paper companies in the world; the worlds largest private owner of softwood timberland; and the second largest owner in the United States, behind International Paper. ... For other uses, see BBC (disambiguation). ... Bertelsmann AG is a transnational media corporation founded in 1835, based in Gütersloh, Germany. ... Independent Television (generally known as ITV, but also as ITV Network) is a public service network of British commercial television broadcasters, set up under the Independent Television Authority (ITA) to provide competition to the BBC. ITV is the oldest commercial television network in the UK. Since 1990 and the Broadcasting... For other newspapers with the same name, see Metro (newspaper). ... The National Geographic Society, headquartered in Washington, D.C. in the United States, is one of the worlds largest not-for-profit educational and scientific organizations. ... NBC Universal is a media and entertainment conglomerate formed in May 2004 by the combination of General Electrics NBC with Vivendi Universal Entertainment, part of Vivendi Universal. ... R.H. Donnelley is a directory publishing company. ... This article does not cite any references or sources. ... The Sony BMG Music Entertainment logo. ... Wolters Kluwer N.V. (Euronext: WKL) is one of the worlds leading publishers and providers of information products and services. ... BHP Billiton is the worlds largest mining company. ... Pfizer Incorporated (NYSE: PFE) is the worlds largest research-based pharmaceutical company[1].[1] The company is based in New York City. ... Arla can refer to Arla (file system) Arla Foods Arla, Greece Association of Residential Letting Agents (ARLA) This is a disambiguation page — a navigational aid which lists other pages that might otherwise share the same title. ... Burger King (often abbreviated to BK) is a large international chain of fast food restaurants, predominantly selling burgers, french fries, soft drinks, desserts, and various sandwiches. ... Note: Carling beer is not produced by the Carlsberg brewery. ... ConAgra Foods, Inc. ... Costco Wholesale Corporation (NASDAQ: COST) is the largest membership warehouse club chain in the world based on sales volume, headquartered in Issaquah, Washington, United States,[1] with its flagship warehouse in nearby Seattle. ... CVS/pharmacy is a pharmacy and convenience store chain in the United States. ... 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Categories: Companies traded on NASDAQ | Corporation stubs | Websites | Internet companies of the United States ... Dolby Laboratories, Inc. ... Electronic Arts (EA) (NASDAQ: ERTS) is an American developer, marketer, publisher, and distributor of computer and video games. ... Electronic Data Systems (EDS) (NYSE: EDS, LSE: EDC) is a global business and technology services company that defined the outsourcing business when it was established in 1962 by Ross Perot. ... Ericsson () NASDAQ: ERIC. Founded in 1876, Ericsson is a leading provider of communications networks, related services and handset technology platforms. ... GoldStar logo, prominently used before the introduction of the LG logo LG Group is a large South Korean chaebol (conglomerate), which produces electronics (including domotics), mobile phones, and petrochemical products and operates subsidiaries like LG Electronics. ... Motorola Inc. ... WebEx Communications Inc. ... Northern Telecommunications Networks, commonly known as Nortel, is a telecommunications equipment manufacturer headquartered in Canada. ... Philips HQ in Amsterdam Koninklijke Philips Electronics N.V. (Royal Philips Electronics N.V.), usually known as Philips, (Euronext: PHIA, NYSE: PHG) is one of the largest electronics companies in the world, founded and headquartered in the Netherlands. ... Samsung Group is one of the largest South Korean business groupings. ... Wikipedia does not have an article with this exact name. ... “Siemens” redirects here. ... TiVo (pronounced tee-voh, IPA: ) is a popular brand of digital video recorder (DVR) in the United States. ... VeriSign, Inc. ... Cable and Wireless (LSE: CW.) is a British telecommunications company. ... Categories: Possible copyright violations ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Frontier Telephone is a telephone company that provides service serving rural communities in 24 states. ... Embarq Corporation, or EMBARQ is the fourth largest local exchange carrier in the United States (below the Baby Bells) and the largest independent local provider, serving customers in 18 states and providing local, long distance, high-speed data and wireless services to residential and business customers. ... PCCW Limited (PCCW, 電訊盈科) (NYSE: PCW) is the largest telecommunication enterprise in Hong Kong. ... Rogers Communications Inc. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... This article does not cite any references or sources. ... For other uses, see Cablevision (disambiguation). ... Alaska Airlines, (NYSE: ALK), based in Seattle, Washington, USA, has grown from a small regional airline to one carrying more than 12 million customers per year. ... Acela Express in West Windsor, NJ Amtrak Cascades service with tilting Talgo trainsets in Seattle, Washington Amtrak train in downtown Orlando, Florida For other uses, see Amtrak (disambiguation). ... Cathay Pacific Airways Limited (Cantonese: gwok3 taai3 hong4 hung1 yau5 haan6 gung1 si1; Traditional Chinese: ; Pinyin: ; abbreviation: 國泰) (SEHK: 0293) is an airline based in Hong Kong, operating scheduled passenger and cargo services to over 104 destinations world-wide. ... easyJet (LSE: EZJ) is a low cost airline officially known as easyJet Airline Company Limited, based at London Luton Airport. ... English, Welsh and Scottish Railway (EWS) is the largest British rail freight company Created as a subsidiary of Wisconsin Central Ltd in 1996, EWS was subsequently acquired by Canadian National Railway when CN bought Wisconsin Central in 2001. ... Norfolk Southern Headquarters Norfolk, Virginia. ... US Airways is an American low-cost airline[1] headquartered in Tempe, Arizona, owned by US Airways Group, Inc. ... A WestJet Boeing 737-700 WestJet Airlines Ltd. ... Qantas (Qantas Airways Limited) (pronounced ) is the name and callsign of the national airline of Australia. ...

Tax shelter fraud

Main article: KPMG tax shelter fraud

In early 2005, the United States member firm, KPMG LLP, was accused by the United States Department of Justice of fraud in marketing abusive tax shelters. KPMG LLP admitted criminal wrongdoing in creating fraudulent tax shelters to help wealthy clients avoid $2.5 billion in taxes and agreed to pay $456 million in penalties in exchange for a deferred prosecution agreement. KPMG LLP would not face criminal prosecution if it complied with the terms of its agreement with the government. On January 3, 2007, the criminal conspiracy charges against KPMG were dropped.[2] However, Federal Attorney Michael J. Garcia stated that the charges could be reinstated if KPMG does not continue to submit to continued monitorship through September 2008.[3] The KPMG tax shelter fraud scandal involves allegedly illegal U.S. tax shelters by KPMG that were exposed beginning in 2003. ... The Robert F. Kennedy Department of Justice Building in Washington, D.C. “Justice Department” redirects here. ... The KPMG tax shelter fraud scandal involves allegedly illegal U.S. tax shelters by KPMG that were exposed beginning in 2003. ...


Before the settlement, the firm, on the advice of its counsel Skadden, Arps, Slate, Meagher & Flom LLP, removed several tax partners and admitted "unlawful conduct" by those partners. The firm agreed to cooperate with DOJ's investigation and help prosecute former partners who had devised and sold the tax shelters. Additionally, the firm hired former U.S. district judge Sven Erik Holmes to monitor its legal and regulatory affairs.


Banco Nacional Scandal in Brazil

In 1995 it was unveiled that the financial statements of Banco Nacional S.A., a banking corporation which was audited for more than fifteen years by KPMG Brazil, had been under fradulent manipulation for more than eight years. Although those financial statements pointed a net equity of some US$ 800 million in december of 1994, this being without any remark from KPMG, Banco Nacional S.A. was in a very different financial situation with accrued losses of about US$ 6 billion.


In a criminal lawsuit not ended as of April 2007, KPMG Brazil's partner Marco Aurélio Diniz Maciel was twice convicted for his role on the supervision of the audit of Banco Nacional S.A..[4]


There are some lawsuits against KPMG filed by individual shareholders as well as a Class Action filed by Federal Attorneys at the Federal Capital District Court in order to seek reparation for shareholders.


The Banco Nacional scandal prompted a large debate about the role of independent auditing in Brazil and may still have repercussions on KPMG activities worldwide, mainly derived from the interdependence associated with the auditing of the many regional branches of multinational corporations


Corporate Anthem and Internet Cliche

The firm has also achieved widespread notoriety for its corporate anthem, entitled "Our Vision of Global Strategy". The song has enjoyed cult status online and at many business schools, such as the Richard Ivey School of Business. Although the anthem was officially released by KPMG as a motivational tool, upper management has since disowned the song (though it remains popular with many employees). The Richard Ivey School of Business is one of the most reputable business schools in Canada. ...


Notable current and former employees

Business

Margaret Jackson AC (born March 17, 1953) is an Australian corporate executive and current Chairman of Qantas. ... Qantas (Qantas Airways Limited) (pronounced ) is the name and callsign of the national airline of Australia. ... There are very few or no other articles that link to this one. ... Michael OLeary (born 1961) is chief executive of the low-cost airline Ryanair. ... For other uses of RYR, see Robert Yates Racing Ryanair (ISEQ: RYA, LSE: RYA, NASDAQ: RYAAY) is an Irish airline headquartered in Dublin, with its biggest operational base situated in London Stansted Airport in the UK. It is Europes largest low-cost carrier and it is one of the... Zarin Patel is the BBCs Chief Financial Officer. ... For other uses, see BBC (disambiguation). ... Colin Morven Sharman, Baron Sharman OBE (born 19 February 1943), is the British chairman of Aviva Group and former chairman of KPMG International. ...

Politics and public service

Jerry Finnell was a partner in the accounting firm KPMG until retiring in 1995. ... Del Mar is a city in San Diego County, California, United States. ... Nicolas John Nick Gibb (born September 3, 1960) British politician He is the Conservative Member of Parliament for Bognor Regis and Littlehampton. ... Mark James Harper (born June 26, 1970) is the Conservative MP for the Forest of Dean. ... Jonathan Toby Harris, Baron Harris of Haringey (born 11 October 1953) is a Labour Party politician in the House of Lords. ... The London Assembly is an elected body that supervises the Greater London Authority and the Mayor of London. ... The Metropolitan Police Authority is the police authority responsible for supervising the Metropolitan Police Service, the police force for Greater London. ... Sir Michael Hirst at the naming of the central office of Diabetes UK. Sir Michael William Hirst (born 2 January 1946) is a former Scottish Conservative and Unionist Party politician, chartered accountant and public relations consultant. ... Edmund Ho Hau Wah Edmund Ho Hau Wah, GCIH (Traditional Chinese: ; pinyin: Hé Hòuhuá; born March 13, 1955) is the Chief Executive of the Macau Special Administrative Region of the Peoples Republic of China. ... The Chief Executive of Macao is the head of the government of Macao, a special administrative region of the Peoples Republic of China and a former Portuguese overseas province. ... Kevin Michael Rudd (born 21 September 1957), is the leader of the federal Australian Labor Party and Leader of the Opposition in the Australian Parliament. ... Drs. ... Hilbrand Pier Anne Nawijn (Kampen, 8 August 1948) is a Dutch politician,and until the 22nd of June 2005 a member of Lijst Pim Fortuyn. ...

Other

“NJ” redirects here. ... Leslie Jane Ferrar (born July 20, 1955) has been Treasurer to the Prince of Wales since January 2005. ... The Prince Charles, Prince of Wales (Charles Philip Arthur George[2]; born 14 November 1948), is the eldest son of Queen Elizabeth II and Prince Philip, Duke of Edinburgh. ... Carl Friedrich Goerdeler Carl Friedrich Goerdeler (July 31, 1884 – February 2, 1945) was a conservative German politician and opponent of the Nazi regime. ... Amr Mohamed Helmi Khaled (Arabic: عمرو محمد حلمي خالد) (born September 5, 1967) is an Egyptian Muslim activist and preacher. ... There is also a collection of Hadith called Sahih Muslim A Muslim (Arabic: مسلم, Persian: Mosalman or Mosalmon Urdu: مسلمان, Turkish: Müslüman, Albanian: Mysliman, Bosnian: Musliman) is an adherent of the religion of Islam. ... Bruce Marshall (born Edinburgh, Scotland,June 24, 1899; died Biot, France,June 18, 1987) was the son of Claude Niven Marshall and Annie Margaret (Bruce) Marshall. ... Sir Michael Charles Gerrard Peat KCVO (b. ... The Prince Charles, Prince of Wales (Charles Philip Arthur George[2]; born 14 November 1948), is the eldest son of Queen Elizabeth II and Prince Philip, Duke of Edinburgh. ... Paul Tisdale (born January 14th 1973 in Malta) is an ex-professional footballer, and the current manager of Exeter City F.C. A former England youth international, Tisdale came through the youth system at Southampton, where he remained until he was 24, but only managed 18 first team appearances. ... Nate Silver is Executive Vice-President of Baseball Prospectus. ... Baseball Prospectus, sometimes abbreviated as BP, is a think-tank focusing on the statistical analysis of the sport of baseball, which is also known as sabermetrics. ... PECOTA, an acronym for Player Empirical Comparison and Optimization Test Algorithm, is a sabermetric system for predicting Major League Baseball player performance. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... Kateryna Yuschchenko with her husband Viktor Yushchenko Kateryna Mykhaylivna Yushchenko-Chumachenko (born September 1, 1961 in Chicago, Illinois) is the current and second wife of Ukrainian President Viktor Yushchenko. ... Viktor Andriyovych Yushchenko (Ukrainian:  ) (born February 23, 1954) is the current President of Ukraine. ...

See also

International auditors KPMG were chosen by the Coalition Provisional Authority and the International Advisory and Monitoring Board to perform external audits of the Coalitions expenditures from the humanitarian Development Fund for Iraq. ... Clearstream Banking S.A. (CB) is the clearing division of Deutsche Börse, based in Luxembourg. ...

Citations

  1. ^ Handelsregister des Kantons Zug (Registration Number CH-020.6.900.276-5), http://hrazg.ch/
  2. ^ Charge Against KPMG Dropped Carrie Johnson, January 4, 2007, Washington Post
  3. ^ Prosecutors end tax-shelter case against KPMG, dropping charge after settlement January 3, 2007, International Herald Tribune
  4. ^ [1]
  5. ^ 'Tis the season to project stats Jonah Keri, February 14, 2007, ESPN

External links

v • d • e
Big Four auditors
Deloitte Touche Tohmatsu · Ernst & Young · KPMG · PricewaterhouseCoopers

  Results from FactBites:
 
Complaint: SEC v. KPMG LLP, Joseph T. Boyle, Michael A. Conway, Anthony P. Dolanski and Ronald A. Safran, January 29, ... (12963 words)
KPMG International is one of the largest public accounting firms in the world, with over 700 offices in 152 countries, and KPMG is the third largest accounting firm in the United States.
KPMG and the defendant partners further represented that, as a result of KPMG's audit, KPMG concluded that Xerox's financial position, including results of operation, were fairly presented in the financial reports and were in conformity with GAAP.
KPMG and the defendant partners also fraudulently permitted Xerox to represent that KPMG had concluded in its audit that internal controls were satisfactory when the KPMG defendants knew, or were reckless in not knowing, that no controls were in place to prevent or correct topside adjustments described herein to reach revenue and earnings targets.
KPMG [home] (925 words)
KPMG LLP draws attention to how telecommunications carriers are responding and making investments in their network, applications, and employees to safeguard sensitive personal and confidential information.
KPMG LLP made the following statement in regard to a resolution reached by the U.S. firm with the Department of Justice in its investigation into tax shelters developed and sold from 1996 to 2002 and related conduct.
KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms.
  More results at FactBites »


 

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