KPMG KPMG was established in 1987 and its history can be traced back to 1870. It was formed by the gradual merger of four companies. It is a network of well-known international accounting firms. It provides three types of main services: audit, taxation and consulting. In the Netherlands, 162,000 full-time employees (2014). It is the fourth largest accounting firm in the world’s four largest accounting firms after Deloitte , PricewaterhouseCoopers and Ernst & Young . World’s top four accounting firms that are all private, non-listed companies .
The name KPMG is derived from the surnames of the founders of the four accounting firms.
- K refers to the 1917 Klynveld Kraayenhof & Co. in Amsterdam Pete ‧ 克里恩菲德 (Pete Klynveld)
- P refers to the establishment in 1870 William Barclay Peat & Co. in London Barclays ‧ ‧ William Pitt (William Barclay Peat)
- M refers to in 1897, and Roger ‧ dense Thatcher (Roger Mitchell) was founded in New York City, Marwick, Mitchell & Co. that is ‧ James Marwick (James Marwick).
- G refers to the main Deutsche Treuhand-Gesellschaft (DTG) is founded in Germany in 1897席莱恩哈德‧ Gore Indira (Reinhard Goerdeler). He made a significant contribution to the merger of the four companies and became the chairman after the merger.
As for the Chinese translation of KPMG , it is the transliteration of the second half of the company name ( KPMG Peat Marwick , abbreviated back to the current name in 1995) that was changed in 1991 .
- KPMG’s predecessor can be traced back to 1870, when William Barclay Pitt founded an accounting firm in London.
- In 1877, Thomson McClintock opened a branch in Glasgow.
- In 1911, William Barclays Pitt & Co. and Marwick Mizall & Co. merged to become known as Peat Marwick.
- At the same time, in 1917, Peter Krienfeld founded an accounting firm named after him in Amsterdam, and later acquired Krarnhof’s company.
- In 1979, Thomson McClintock was reorganized into KMG, a company that only conducts business in the country, and transformed into a multinational company that conducts international business.
- Then in 1987, KMG and KPMG merged in the United States to form the current KPMG, and in the United Kingdom, the combined company was called KPMG-Mclintock.
- In 1990, the two branches were collectively named “KPMG-KPMG-Mclintock”.
- In 1991, they were renamed “KPMG-KPMG”.
- In 1995, the company was officially named “KPMG”.
- In 1997, KPMG and Ernst & Young jointly announced that they would merge. This move was intended to counter the merger of PricewaterhouseCoopers and Yongdao. In the end, however, the merger of PricewaterhouseCoopers was approved, but the merger of KPMG and Ernst & Young went nowhere.
- In 2001, KPMG divested its own consulting company through an IPO, which was later known as BearingPoint. The consulting departments in the United Kingdom and the Netherlands were sold to Atos Origin (called “Atos Origin” at the time) in 2002.
- In 2003, KPMG spun off its own legal department and sold them to FTI Consulting.
- In October 2007, KPMG merged its subsidiaries in the United Kingdom, Germany, Switzerland and Liechtenstein. John Griffith-Jones and Ralph NonnMarshall became the company’s co-chairs.
- In December 2008, the Tremont Group fund audited by KPMG lost at least US$2.37 billion in the “Ponzi scheme” planned by Madoff. Therefore, KPMG was subject to a class action lawsuit from investors.
- On January 14, 2009, KPMG and Deloitte together replaced PricewaterhouseCoopers and became the audit firm of Indian IT vendor Satyam Computer Services. However, the Institute of Chartered Accountants of India raised an objection because KPMG was not officially registered with the Institute.
KPMG KPMG Greater China franchise:
The following is a list of KPMG’s franchised accounting firms in Greater China, each of which is legally independent:
- Mainland China-KPMG Huazhen Certified Public Accountants (Special General Partnership)
- Taiwan area-An Hou Jianye Joint Accounting Firm (a joint accounting firm under the Accounting Law)
- Hong Kong and Macau-KPMG
KPMG official website : https://www.kpmg.com/