KPMG
KPMG is a global network of legally separate professional services firms providing audit, tax, and advisory services to organizations.
Financial statement audit: An independent examination of an organization’s financial statements and related disclosures. KPMG’s audit firms provide assurance on financial reporting for clients and capital markets.
Professional services: Expert services delivered by trained practitioners applying specialized knowledge to client problems. Audit, tax, and advisory work place KPMG within this broad economic sector.
Peat Marwick International: An international association of accounting firms that became part of KPMG’s formation. Its initials contributed to the combined name adopted when KMG and PMI joined.
Deloitte: A global network of professional services firms providing audit, tax, consulting, and related services. Deloitte competes with KPMG across the same broad global service markets.
Tax advisory: Professional advice on tax compliance, planning, and the interpretation of tax rules. KPMG’s tax practices help clients address obligations across jurisdictions.
Professional services network: An organization coordinating independent firms that share a brand, methods, or resources. KPMG operates as a network rather than one globally unified partnership or corporation.
Klynveld Main Goerdeler: An accounting firm formed in 1979 by the merger of Klynveld Kraayenhof and Deutsche Treuhand-Gesellschaft. KMG merged with Peat Marwick International in 1987 to form the KPMG network.
PricewaterhouseCoopers: A global network of firms providing assurance, tax, and consulting services under the PwC brand. PwC is another Big Four network and a direct competitor in audit and advisory.
Management consulting: Advice that helps organizations improve strategy, operations, technology, or organizational design. KPMG’s advisory work includes consulting on business transformation and performance.
Big Four accounting firms: The four largest global networks of accounting and professional services firms: Deloitte, EY, KPMG, and PwC. KPMG is one of the four networks that dominate the global audit market.