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KPMG history, profile and history video

 “About KPMG 

 KPMG provides Audit, Tax and Advisory services and industry insight to help organizations negotiate risks and perform in the dynamic and challenging environments in which they do business. We assist firms and organizations in meeting their compliance requirements and help them to develop, adding value to our clients’ business. We have specialized staff with many different skills and backgrounds, and we are flexible – we adapt our services and develop new ones to meet the needs of clients as market conditions change.KPMG operates as an international network of member firms offering Audit, Tax and Advisory services. We work closely with our clients, helping them to mitigate risks and take advantage of opportunities. KPMG member firms can be found in over 156 countries. Collectively they employ more than 152,000 people across a wide range of disciplines.KPMG in Romania now employs more than 650 people, including both local and expatriate staff, who combine detailed experience of the Romanian market with international knowhow. The keys to our success are the quality and abilities of our people, which are developed through ongoing training in a broad range of skills at all levels of the firm.KPMG in Romania opened its first office in 1994 in Bucharest, opening a second in Timisoara in 1999. In the past years we have also opened facilities in Cluj, Iasi, Constanta and Chisinau. Our firm’s clients include business corporations, governments and public sector agencies as well as not-for-profit organizations. They look to KPMG for a consistent standard of service based on high order professional capabilities, industry insight and local knowledge.Sustaining and enhancing the quality of this professional workforce is KPMG’s primary objective. Wherever our firms operate we want them to be no less than the professional employer of choice.Our people embrace KPMG’s values. These values determine how we interact with clients, with each other and with the world around us. They define what we stand for and how we do things.At KPMG, we try to create sustainable, long-term economic growth, not just for our firm and clients, but for the society we work in. We seek to be good corporate citizens, making a real difference to the communities in which we operate.”

“History

Early years and mergers

The firm’s history dates back to 1870 when William Barclay Peat joined an accounting firm in London and took it over, as William Barclay Peat & Co., in 1891. In 1877 accountancy firm Thomson McLintock opened an office inGlasgow.

Meanwhile in 1917 Piet Klijnveld opened his accounting firm in Amsterdam. Later he merged with Kraayenhof to form Klynveld Kraayenhof & Co.

In 1925 William Barclay Peat & Co. and Marwick Mitchell & Co. (a firm founded by James Marwick and Roger Mitchell in New York), merged to form Peat Marwick Mitchell & Company (later known simply as Peat Marwick).

In 1979 Klynveld Kraayenhof & Co. (Netherlands), McLintock Main Lafrentz (United Kingdom / United States) and Deutsche Treuhandgesellschaft (Germany) formed KMG (Klynveld Main Goerdeler) as a grouping of independent national practices to create a strong European-based international firm. Then in 1987 KMG and Peat Marwick joined forces in the first mega-merger of large accounting firms and formed a firm called KPMG in the US, and most of the rest of the world, and Peat Marwick McLintock in the UK.

In 1990 the two firms settled on the common name of KPMG Peat Marwick McLintock but in 1991 the firm was renamed KPMG Peat Marwick, and in 1999 the name was reduced again to KPMG.

In 1997 KPMG and Ernst & Young announced that they were to merge. However, while the merger to form PricewaterhouseCoopers was granted regulatory approval, the KPMG/Ernst & Young tie-up was later abandoned.

Recent history

In 2001 KPMG divested its U.S. consulting firm through an initial public offering of KPMG Consulting Inc, which is now called BearingPoint, Inc. In early 2009, BearingPoint filed for Chapter 11 bankruptcy protection.

The UK and Dutch consulting arms were sold to Atos Origin in 2002.

In 2003 KPMG divested itself of its legal arm, Klegal and KPMG LLP sold its Dispute Advisory Services to FTI Consulting.

KPMG’s member firms in the United Kingdom, Germany, Switzerland and Liechtenstein merged to form KPMG Europe LLP in October 2007. These member firms were followed by Spain, Belgium, the Netherlands, Luxembourg, CIS (Azerbaijan, Russia, Ukraine, Belarus, Kyrgyzstan, Kazakhstan, Armenia and Georgia), Turkey, Norway, and Saudi Arabia. They appointed joint Chairmen, John Griffith-Jones and Ralf Nonnenmacher. The new headquarters were located in Frankfurt, Germany.”

*Information from Kpmg.com and Wikipedia.org
**Video published on YouTube by “ KPMG US·”