Full Form of KPMG | KPMG Full Form | What is KPMG | About KPMG
Full Form of KPMG is KLYNVELD Peat MARWICK GOERDELER: KPMG stands for “KLYNVELD Peat MARWICK GOERDELER”. It’s formed with the merger of Klynveld Main Goerdeler (KMG) and peat Marwick International (PMI). The name KPMG comes from the initials of its founding members.
K represents Piet Klynveld.
P represents William Barclay Pear.
M represents Marwick.
G represents Dr. Reinhard Goerdeler.
Full Form of KPMG: KPMG could be a well-known world network of professional companies providing Audit, Tax and informative services. Its headquarters is in Amsterdam, Netherlands and its tagline is “Cutting through Complexity”. It helps its shoppers to mitigate risks and grasp opportunities. Its clients embody business companies, non-profit-making organizations, governments, and public sector agencies.
According to Wikipedia:
KPMG is a professional service company and one of the Big Four auditors, along with Deloitte, Ernst & Young (EY), and PricewaterhouseCoopers (PwC). Seated in Amstelveen, the Netherlands, KPMG employs 189,000 people and has three lines of services: financial audit, tax, and advisory. Its tax and advisory services are further divided into various service groups. The name “KPMG” stands for “Klynveld Peat Marwick Goerdeler.” It was chosen when KMG (Klynveld Main Goerdeler) merged with Peat Marwick in 1987.
The organization’s history spanned three centuries. In 1818 John Moxham opened a company in Bristol. James Grace and James Grace Jr. bought John Moaxham & Co. and renamed it James Grace & Son in 1857. In 1861 Henry Grace joined James Jr. and the company was renamed James & Henry Grace. William Barclay Peat joined Robert Fletcher & Co. in London at 17 and became head of the firm in 1891, renamed William Barclay Peat & Co. by then. In 1877 Thomson McLintock founded Thomson McLintock & Co in Glasgow. In 1897 Marwick Mitchell & Co. was founded by James Marwick and Roger Mitchell in New York City. In 1899 Ferdinand William LaFrentz founded the American Audit Co., in New York.
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 fashioned 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 also 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 make peat Marwick Mitchell & Co, a network of accounting and consulting companies.
In 1978, Peat Marwick Mitchell & Co was renamed peat Marwick International (PMI).
In 1979, Klynveld Kraayenhof & Co, joined forces with DTG and McClintock Main Lafrentz to make Klynveld Main Goerdeler (KMG).
In 1986, PMI incorporates with KMG. On January one, 1987, the merger was proclaimed to the general public and also the new company is called Klynveld peat Marwick Goerdeler (KPMG).
Today, the network of KPMG exists in one hundred fifty-five countries with over 174,000 workers.