KPMG (Asia Consulting Practice)
VAULT RANKINGS 2013
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· "Famous auditing firm"
· "Respected parasite"
· "Clear career path"
· "Employees don't get recognition for what they do"
NEWS AND UPDATES
· Huge and ever-growing in Asia Pacific
· Worldwide brand recognition
· Could easily get lost in the fray with the firm's enormity
· Lots of restructuring and management changes
ABOUT THIS COMPANY:
Keep it straight
By global revenue, KPMG is the smallest of accounting's Big Four (trailing Deloitte, Ernst & Young and PricewaterhouseCoopers), but it has a globe-spanning presence. Organized under a network of independent international member firms, each KPMG member firm forms a separate and distinct legal entity, while KPMG International serves in a coordinating role for the members and doesn’t provide any direct service to clients.
KPMG is grouped into three regional operations: the
Meanwhile, the Asia Pacific region has been the fastest growing of the firm’s three geographic groups for a number of years, and KPMG now employs just shy of 30,000 people across the region. In 2008, the firm hired more than 3,000 new employees across the region, an increase of 15 percent from 2007. Revenue for the Asia Pacific region grew 21.6 percent to US$3.11 billion, accounting for 14 percent of overall yearly take for KPMG in 2008.
What’s in a name?
KPMG is an acronym... but for what, you may ask? The "K" stands for Klynveld, after Piet Klynveld, who founded the accounting firm Klynveld Kraayenhof & Company in
The first president of the International Federation of Accountants, Goerdeler helped bring about the merger that formed Klynveld Main Goerdeler (KMG), itself a product of several previous mergers. The 1987 combination of KMG and Peat Marwick International marked the first megamerger of the modern accounting profession, and formed today's KPMG.
Like three of the Big Four accounting firms, KPMG was forced to separate its consulting business from the audit and tax practices in 2001, when the
As the non-compete agreements expired at the end of 2005, KPMG jumped back into the consulting game in full force. By 2006, the advisory practice had already shown impressive growth of 12 percent over the prior year. Risk advisory and financial advisory are keeping consultants busy as new companies make the plunge into the Asian market. The firm also attributes the growth in client demand to private companies in the region that are seeking to expand and raise capital.
Big in Australasia and
One of KPMG's largest Asia Pacific practices is in
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