What is the full form of KPMG
KPMG: KLYNVELD PEAT MARWICK GOERDELER
KPMG stands for “KLYNVELD PEAT MARWICK GOERDELER”. It is formed with the merger of Klynveld Main Goerdeler (KMG) and Peat Marwick International (PMI). The name KPMG is derived from the initials of its founding members.
- K represents Piet Klynveld.
- P represents William Barclay Pear.
- M represents Marwick.
- G represents Dr. Reinhard Goerdeler.
KPMG is a well-known global network of professional firms providing Audit, Tax and Advisory services. Its headquarters is in Amsterdam, Netherlands and its tagline is “Cutting through Complexity”. It helps its clients to mitigate risks and grasp opportunities. Its clients include business corporations, nonprofit organizations, governments and public sector agencies. It was established in India in September 1993 with offices in Ahmedabad, Bangalore, Chandigarh, Chennai, Gurugram, Kochi, Mumbai, Noida, Vadodara etc. In India, it has more than 2700 companies as its clients.
Values
- Lead by example
- Work together
- Respect the individual
- Seek facts and provide insight
- Open and honest in communication
- Be committed to communities
- Act with integrity
Brief History
- William Barclay Peat (the P in KPMG) started his career in accountancy working for Robert Fletcher & Co. His work was admired and he was quickly promoted to higher ranks. In 1891, he renamed the firm “William Barclay Peat & Co”.
- In 1897, James Marwick (the M in KPMG) and Roger Mitchell formed the firm Marwick, Mitchell & Co.
- In 1917, Piet Klynveld (the K in KPMG) started an accounting firm in Amsterdam. Jaap Kraayenhof joined the firm and the firm became Klynveld Kraayenhof & Co. (KKC).
- In 1953, Reinhard Goerdeler (the G in KPMG) joined Deutsche Treuhand-Gesellschaft (DTG).
- In 1911, William Barclay Peat & Co. and Marwick Mitchell & Co joined forces to form Peat Marwick Mitchell & Co, a network of accounting and consulting firms.
- In 1978, Peat Marwick Mitchell & Co was renamed Peat Marwick International (PMI).
- In 1979, Klynveld Kraayenhof & Co, joined forces with DTG and McLintock Main Lafrentz to form Klynveld Main Goerdeler (KMG).
- In 1986, PMI merged with KMG. On January 1, 1987, the merger was announced to the public and the new company is named Klynveld Peat Marwick Goerdeler (KPMG).
Today, the network of KPMG exists in 155 countries with more than 174,000 employees.