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- Published: 19 Dec 2007
- Uploaded: 09 Apr 2011
- Author: KPMGGo
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 firmes were followed by Spain, Belgium, the Netherlands, Luxembourg, CIS (Russia, Ukraine, Kyrgyzstan, Kazakhstan, Armenia and Georgia), Turkey, Norway, and Saudi Arabia. They appointed joint Chairmen, John Griffith-Jones and Ralf Nonnenmacher. Class action suits were filed.
KPMG International is led by:
KPMG ranks No. 5 out of 125 among companies with the best training programmes according to "Training Magazine".
KPMG was the preferred employer among the Big Four accounting firms according to College Grad.com. It was also ranked No.4 on the list of "50 Best Places to Launch a Career" in 2009 according to BusinessWeek.
In 2008 KPMG in the UK was named the best big company to work for by The Times. This was the fourth consecutive year that KPMG has made the top three winning three times in that four years. If a good position is obtained in the survey staff receive an extra day's holiday, some have suggested that this could influence how staff fill in the survey thus putting the validity of the award in doubt.
In 2009 in the UK, KPMG introduced programme known as 'Flexible Futures'. This allowed staff to volunteer to give the firm the option to either send them on a sabbatical at 30% pay for up to 12 weeks, or to reduce their working hours to 4 days a week. The option remains open to the firm until October 2010. This facility has been invoked by the firm in some departments. KPMG publicised this as innovative and an alternative approach to redundancies. Reaction within the firm was generally positive, with over 75% of staff volunteering. However over 100 staff had been made redundant prior to this announcement, leading some to accuse KPMG of being hypocritical in the message that they were given.
In October 2010, for the 8th year in a row, KPMG was named one of "Canada's Top 100 Employers" by Mediacorp Canada Inc., and was featured in Maclean's newsmagazine. In November 2010 KPMG was also named one of Greater Toronto's Top Employers, which was announced by the Toronto Star newspaper. , West Yorkshire.]]
In early 2005, the United States member firm, KPMG LLP, was accused by the United States Department of Justice of fraud in marketing abusive tax shelters. KPMG LLP admitted criminal wrongdoing in creating fraudulent tax shelters to help wealthy clients avoid $2.5 billion in taxes and agreed to pay $456 million in penalties in exchange for a deferred prosecution agreement. KPMG LLP would not face criminal prosecution if it complied with the terms of its agreement with the government. On January 3, 2007, the criminal conspiracy charges against KPMG were dropped.
Before the settlement, the firm, on the advice of its counsel Skadden, Arps, Slate, Meagher & Flom LLP, removed several tax partners and admitted "unlawful conduct" by those partners. The firm agreed to cooperate with the U.S. Department of Justice's investigation and help prosecute former partners who had devised and sold the tax shelters. Additionally, the firm hired former U.S. district judge Sven Erik Holmes to monitor its legal and regulatory affairs.
In March 2008 KPMG was accused of enabling “improper and imprudent practices” at New Century Financial, a failed mortgage company and KPMG agreed to pay $80 million to settle suits from Xerox shareholders over manipulated earnings reports.
In August 2010 it was reported by the Swedish Financial Supervisory Authority to the Swedish accountancy regulator after HQ Bank was forced into involuntary liquidation after the Financial Supervisory Authority revoked all its licences for breach of banking regulations.
In February 2008, Phil Mickelson, ranked one of the best golfers in the world, signed a three-year global sponsorship deal with KPMG. As part of the agreement, Mickelson will wear the KPMG logo on his headwear during all golf related appearances.
The Canadian member firm sponsored Alexandre Bilodeau, who won the first gold medal for Canada on home-soil in the 2010 Vancouver Olympics. Alexandre's father is a tax partner in the Montreal office.
Category:Companies established in 1987 Category:International management consulting firms Category:Accountancy firms Category:Companies based in New York City Category:Privately held companies of Switzerland Category:Orphan initialisms
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