|KPMG International Cooperative
|legal form||Cooperative under Swiss law|
|founding||1986 (individual companies from 1870)|
Zug , Switzerland (Headquarters: Amstelveen , Netherlands )
|management||Bill Thomas ( Chairman )|
|Number of employees||207,000 (2018)|
|sales||28.96 billion US dollars (2018)|
KPMG International is a global network of legally autonomous and independent companies in the fields of auditing , tax consulting and corporate and management consulting based in Zug and operating headquarters in Amstelveen .
In 2017, KPMG employed around 200,000 people at locations in 154 countries and generated a total of 26.4 billion US dollars in sales. In Germany , the company in 2017 employed approximately 10,700 people at 25 locations and generated sales of 1.83 billion euros.
Origin and brand
KPMG was created through the merger of legally autonomous and independent auditing and consulting firms from the Netherlands , Great Britain , the United States and Germany . The letters give an indication of the founders and chairmen of these companies:
- Klynveld - after Piet Klynveld , founder of Klynveld Kraayenhof & Co. in Amsterdam , founded in 1917,
- Peat - after William Barclay Peat , founder of William Barclay Peat & Co. in London , founded in 1870,
- Marwick - after James Marwick , founder of Marwick, Mitchell & Co. in New York , founded in 1897,
- Goerdeler - after Reinhard Goerdeler , chairman of the Deutsche Treuhand-Gesellschaft , founded in 1890.
The company's history dates back to 1870 when William Barclay Peat founded the accounting firm William Barclay Peat & Co. in London . In 1890 the first German auditing company, the German-American Trust Company, was founded. From 1892 this operated as the Deutsche Treuhand-Gesellschaft (DTG). In 1911, William Barclay Peat & Co. and Marwick Mitchell & Co. merged. The new company later became known as Peat Marwick International (PMI).
In 1979, Klynveld merged with Deutsche Treuhand-Gesellschaft (DTG) and McLintock Main Lafrentz to form the auditing company Klynveld Main Goerdeler (KMG).
In 1986 PMI and KMG merged in the first mega-merger of the large audit firms. The new company was named KPMG in 1987 . Ten years later, in 1997, KPMG and Ernst & Young negotiated a merger. This was widely seen as a reaction to the recent merger of Price Waterhouse and Coopers & Lybrand to form PricewaterhouseCoopers . While the PricewaterhouseCoopers merger was approved by regulators, KPMG and Ernst & Young ended their merger talks in October 1997 without a merger.
In order to meet the independence requirements of the Sarbanes-Oxley Act in the USA, which also had an impact on Germany , KPMG Germany completely separated from its stake in KPMG Consulting AG in 2002 and sold the shares to KPMG Consulting, Inc. USA, which has since been known as BearingPoint acts. In the same year KPMG sold the Actuarial Services division to Mercer Human Resource Consulting GmbH . In addition, the separation from the law firm Beiten Burkhardt took effect on October 1, 2003 .
In 2002 KPMG Germany entered into talks with Arthur Andersen's German subsidiary about a possible merger. In other countries, the respective KPMG national companies merged with the local Arthur Andersen national company. Arthur Andersen Germany, however, merged with Ernst & Young in September 2002.
In 2003 KPMG gave up five branches in Germany ( Chemnitz , Erfurt , Magdeburg , Rostock , Schwerin ). The Jena location was opened in 2004, and Halle and Dortmund were added in 2008 . As of November 2017, KPMG was represented at 25 locations in Germany.
Since October 1, 2008, KPMG Germany has been operating as KPMG AG Wirtschaftsprüfungsgesellschaft .
All national KPMG companies are associated with this company, which is responsible for strategic alignment and brand development, among other things.
KPMG Europe LLP
The member companies from Germany, Great Britain and Switzerland merged on October 1, 2007 to form KPMG Europe LLP . The group company is registered in London , the head office is in Frankfurt am Main . Co-chairmen are Rolf Nonnenmacher and John Griffith-Jones.
On October 1, 2008, KPMG in Spain joined KPMG Europe LLP, followed by KPMG in Belgium in 2009 (KPMG's audit division in Belgium is not part of KPMG Europe LLP.). On October 1, 2009, the subsidiaries in Luxembourg , the Netherlands , Turkey and some of the CIS (Russia, Ukraine, Kazakhstan, Kyrgyzstan, Georgia and Armenia) also joined. At the end of 2010, KPMG in Norway and Saudi Arabia also decided to join KPMG Europe LLP. In July 2011, KPMG joined Jordan .
A selection of national KPMG companies:
|National company||Employee||Sales (million EUR)|
|KPMG Saudi Arabia||450||NN|
|KPMG United Arab Emirates||750||NN|
|KPMG New Zealand||800||NN|
|KPMG South Africa||3,000||NN|
|KPMG Russia / CIS||3,800||NN|
Chairwoman of KPMG International
- Reinhard Goerdeler (1987–1991)
- Jim Butler (1991-1993)
- Hans Havermann (1993–1995)
- Jon C. Madonna (1995-1996)
- Colin M. Sharman (1996-1999)
- Stephen G. Butler (1999-2002)
- Michael Rake (2002-2007)
- Timothy P. Flynn (2007-2011)
- Michael J. Andrew (2011-2014)
- John B. Veihmeyer (2014-2017)
- Bill Thomas (since 2017)
In Germany, KPMG has 16 DAX mandates, making it a leader in banking and industry.
A selection of major customers:
- Adidas AG
- Adobe Inc.
- Allianz SE
- BASF SE
- Borussia Dortmund
- Deutsche Börse AG
- ProSiebenSat.1 Media
- SAP SE
- Thyssen-Krupp (also at PricewaterhouseCoopers )
KPMG also reviews the annual accounts of the Wikimedia Foundation .
Prizes and awards
- KPMG USA was included in the ranking of the "FORTUNE 100 Best Companies to Work For 2011".
- In 2011, KPMG International was once again ranked second behind Google in Universum's ranking “The World's Most Attractive Employers” and is thus again ahead of the Big 4 competition.
- In 2010, KPMG International was ranked second behind Google in Universum's ranking "The World's Most Attractive Employers" . This makes KPMG the best ranked auditing and consulting company. To determine the ranking, around 130,000 students were asked about their preferred employer. The survey was carried out at the leading universities in Brazil, China, Germany, France, India, Italy, Japan, Canada, Russia, Spain, as well as in the United Kingdom of Great Britain and Northern Ireland and in the United States of America.
- In 2010, KPMG Canada was ranked among “Canada's Top 100 Employers” for the eighth time in a row, recognized by Mediacorp Canada Inc. and Maclean's newsmagazine. Also in 2010, the company was included in the “Greater Toronto's Top Employers” ranking by the Toronto Star , the highest-circulation Canadian daily newspaper.
- KPMG USA is one of the ten best companies in which mothers are offered good working conditions, recognized by Working Mother magazine. KPMG USA is also in the “100 Best Companies to Work For” ranking, which is voted by employees.
- KPMG International is 2010 Hong Kong Tax Firm of the Year, 2010 China Transfer Pricing Firm of the Year and 2010 Asia Private Equity Firm of the Year, recognized by the International Tax Review . The company had already won the same prizes in 2009.
- In 2010, KPMG International was selected as one of the top 100 employers for lawyers by the law career magazine Azur, following a Germany-wide survey of young professionals.
- KPMG International is ranked 5th in Training Magazine's ranking of companies with the best continuing education programs .
- KPMG International is in fourth place in BusinessWeek's “50 Best Places to Launch a Career” ranking .
- KPMG International was voted employer of choice among the Big Four in 2009 by CollegeGrad.com.
- In 2009, KPMG International was ranked second in the “Best Places to Intern” ranking (list of companies with the most attractive internship positions) by Bloomberg BusinessWeek.
- In 2009, KPMG Germany was voted the most popular auditing and consulting company by students. In the overall ranking of the trendence market research study, the company ranks fifth behind Lufthansa, Audi, Porsche and BMW.
- In 2012, KPMG Germany was recognized as a family-friendly company for the third time and received the “Work and Family” certificate. The prize is awarded by berufundfamilie gGmbH of the Hertie Foundation . This recognizes the company's efforts to make it easier for employees to combine work and family through a variety of programs and individual measures. For example, KPMG offers different working time models that take into account the needs of working parents, and there are places available in day nurseries at individual locations .
- KPMG UK was named Best Employer in 2008 by The Times daily . In 2005, 2006 and 2007 it was always in the top three in the same ranking.
KPMG in the public eye
Just like other auditing firms, KPMG has repeatedly come into the public eye as an auditor if companies have retrospectively revealed accounting errors due to manipulation by top management. KPMG has always rejected allegations of not having carried out the audit properly in individual cases or even of being involved in manipulation.
In early 2005, the US company KPMG LLP and a number of high-ranking employees were charged with aiding and abetting tax evasion in the amount of US $ 2.5 billion. The lawsuit was dropped in 2007 after KPMG complied with a stay of prosecution agreement; Under this agreement, KPMG acknowledged fraudulent conduct and agreed to pay $ 456 million.
In 2005 the company received the negative Public Eye Award .
In April 2013, the partner responsible for the final exam at the Los Angeles site, Scott London, admitted that he had passed on inside information to his friend Bryan Shaw. Since 2010 he had disclosed unknown information to the public about KPMG clients Herbalife , Skechers and other companies. In return, he received cash and gifts in kind. London was then released. As a result, KPMG had to resign from the Herbalife and Skechers audit mandates. Shaw and London pleaded guilty to insider trading. Shaw made at least $ 1.27 million from insider trading , according to the SEC .
In 2017, KPMG South Africa got into a crisis as a result of the scandal surrounding the Gupta family . It had become known that KPMG had advised companies in the Gupta family until 2016. In 2013, KPMG made it possible to illegally finance a wedding reception in the Gupta family. In addition, the audit by the South African Revenue Service (SARS) revealed that the then Treasury Secretary, Pravin Gordhan, knew about an illegal espionage unit within the agency. As a result, Gordhan was released. After the allegations against KPMG became known, numerous companies, including Barclays South Africa, and the government terminated their contracts with the company. The Chief Executive of KPMG South Africa and other executives had to resign. In addition, VBS Mutual Bank had collapsed on fraud allegations in 2018 , despite KPMG's positive audit report in 2017.
In his program yesterday this morning from 2017, the cabaret artist Urban Priol translated KPMG with Children Check My Business . There are other word games circulating on the Internet - alluding to KPMG's business practices - such as Coming Checking Grumbling Going .
- KPMG International
- KPMG Germany
- KPMG Switzerland
- KPMG Europe
- Collection of surveys, studies and publications by KPMG ( Memento from October 9, 2014 in the Internet Archive )
- Entry of "KPMG International" in the commercial register of the Canton of Zug ( Memento from December 12, 2008 in the Internet Archive )
- Hoover's: KPMG - Company Overview
- 2018 KPMG Global Review. Retrieved October 4, 2019 .
- KPMG International: Annual Report 2012 ( Memento from December 17, 2013 in the Internet Archive ) (PDF; 3.1 MB).
- KPMG: Who we are - performance
- KPMG: History
- KPMG press release of October 1, 2009
- KPMG press release ( memento of January 1, 2011 in the Internet Archive ) of November 1, 2010
- In: Stern , No. 12/2013, p. 86.
- Wikimedia / KPMG: WIKIMEDIA FOUNDATION, INC. Financial statements. (PDF) Wikimedia, September 19, 2013, accessed February 23, 2014 .
- FORTUNE 100 Best Companies to Work For 2011
- The World's Most Attractive Employers 2011 ( Memento from September 4, 2012 in the Internet Archive ) (PDF; 216 kB)
- The World's Most Attractive Employers 2010
- Reasons for Selection, 2009 Canada's Top 100 Employers Competition . Retrieved May 19, 2011.
- 100 Best Companies to work for
- KPMG wins International Tax Review 2010 Awards
- Top Employer 2010 ( Memento from September 4, 2011 in the Internet Archive )
- Extract from Training Magazine
- Best Places to Launch a Career ( Memento from May 9, 2010 in the Internet Archive )
- College Grad.com
- Best Places to Intern Bloomberg BusinessWeek's 2009
- KPMG once again recognized as a family-friendly company
- Best 100 Companies
- Anne Jacoby: Wirtschaftsprüfer - Out of desire for a career ( Memento from April 12, 2009 in the Internet Archive )
- Prosecutors end tax-shelter case against KPMG, dropping charge after settlement . January 3, 2007, International Herald Tribune.
- KPMG scandal: Looking for inside information - offering Rolex, money, betrayal. Spiegel Online, April 12, 2013, accessed May 12, 2014 .
- Christopher Weber, Christina Rexrode: Scott London, Ex-KPMG Partner, Hit With Insider Trading Charges. Huffington Post, April 11, 2013; archived from the original on May 2, 2014 ; accessed on May 1, 2014 .
- Sreeja VN: Scott London A former partner At KPMG Pleads Guilty To Insider Trading; Faces Maximum Sentence Of 20 Years In Prison. International Business Times, July 2, 2013, accessed May 1, 2014 .
- Malik Singleton: KPMG Insider Trading Scandal: Crisis Continues As SEC Charges 'Rogue' Trader And Identifies 'Stupid' Investor In Latest Development For Troubled Firm. International Business Times, April 11, 2013, accessed May 1, 2014 .
- Claudia Bröll:  In: nzz.ch , September 15, 2017, accessed on April 5, 2019.
- Nqobile Dludla: Barclays Africa fires KPMG over Gupta connections. reuters.com , May 3, 2018, accessed January 28, 2019.
- Kabelo Khumalo: KPMG cited in VBS Bank mess. iol.co.za, October 21, 2018, accessed January 28, 2019.
- Urban Priol, yesterday today morning , 2 CDs, WortArt / Maritim, 2017, ISBN 978-3-8371-4021-7