What Is KPMG? Check Out The Full Meaning & Contact Details
KPMG International Limited (or simply KPMG) is an Anglo-Dutch multinational professional services network, and one of the Big Four accounting organizations.
“KPMG” stands for “Klynveld Peat Marwick Goerdeler”. The name was chosen when KMG (Klynveld Main Goerdeler) merged with Peat Marwick in 1987.
Headquartered in Amstelveen, Netherlands, although incorporated in the United Kingdom, KPMG is a network of firms in 147 countries, with over 227,000 employees and has three lines of services: financial audit, tax, and advisory. Its tax and advisory services are further divided into various service groups.
KPMG started operations in Nigeria in 1978. KPMG Nigeria boasts a combination of international and national market knowledge and perspective. Kunle Elebute is the CEO of KPMG Nigeria.
History
The organization’s history has spanned three centuries. In 1818 John Moxham opened a company in Bristol. James Grace and James Grace Jr. bought John Moxham & Co. and renamed it to James Grace & Son in 1857.
In 1861, Henry Grace joined James Jr. and the company was renamed to James & Henry Grace; the firm evolved to become Grace, Ryland & Co.
In March 1917, Piet Klijnveld and Jaap Kraayenhof opened an accounting firm called Klynveld Kraayenhof & Co. in Amsterdam.
In 1925, William Barclay Peat & Co. and Marwick Mitchell & Co., merged to form Peat Marwick Mitchell & Co.
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 United States, and most of the rest of the world, and Peat Marwick McLintock in the United Kingdom.
In the Netherlands, as a consequence of the merger between PMI and KMG in 1988, PMI tax advisors joined Meijburg & Co. (The tax advisory agency Meijburg & Co. was founded by Willem Meijburg, Inspector of National Taxes, in 1939).
Today, the Netherlands is the only country with two members of KPMG International: KPMG Audit (accountants) and Meijburg & Co (tax consultants).
In 1991, the firm was renamed KPMG Peat Marwick, 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.
In 2001, KPMG spun off its United States consulting firm through an initial public offering of KPMG Consulting, which was rebranded BearingPoint.
In early 2009, BearingPoint filed for Chapter 11 bankruptcy protection. The UK and Dutch consulting arms were sold to Atos in 2002.
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Services
KPMG is organised into the following three service lines (the 2020 revenue shares are listed in parentheses):
- Audit (38%)
- Advisory (40%)
- Tax (22%)
KPMG Nigeria services include providing credible and transparent financial reports based on audit methodology that is designed to meet both national and international standards.
They also provide varied tax and regulatory advisory services to clients.
Their advisory services includes:
- Management consulting
- Deal advisory
- Risk consulting
KPMG Nigeria Address and And Contact Details
KPMG Head Office is located at KPMG tower, Bishop Aboyade Cole Street, Victoria Island, PMB 40014, Falomo, Lagos
Website: www.kpmg.com
Phone: +234 1271 8955
Email: [email protected]
In Conclusion
KPMG Nigeria’s vision is to build and sustain their reputation as the best firm to work with by ensuring their people, clients and communities achieve their full potential.
They are committed to working with their clients to cut through complexities of the business world finding solutions and adding va lue.
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