KPMG

KPMG was formed in 1987 with the merger of Peat Marwick International (PMI) and Klynveld Main Goerdeler (KMG) and their individual member firms. Spanning three centuries, the organization's history can be traced through the names of its principal founding members - whose initials form the name "KPMG."

• K stands for Klynveld. Piet Klynveld founded the accounting firm Klynveld Kraayenhof & Co. in Amsterdam in 1917.
  
• P is for Peat. William Barclay Peat founded the accounting firm William Barclay Peat & Co. in London in 1870.
  
• M stands for Marwick. James Marwick founded the accounting firm Marwick, Mitchell & Co. with Roger Mitchell in New York City in 1897.
  
• G is for Goerdeler. Dr. Reinhard Goerdeler was for many years chairman of Deutsche Treuhand-Gesellschaft and later chairman of KPMG. He is credited with laying much of the groundwork for the KMG merger.

In 1911, William Barclay Peat & Co. and Marwick Mitchell & Co. joined forces to form what would later be known as Peat Marwick International (PMI), a worldwide network of accounting and consulting firms.

In 1979, Klynveld joined forces with Deutsche Treuhand-Gesellschaft and the international professional services firm McLintock Main Lafrentz to form Klynveld Main Goerdeler (KMG).

In 1987, PMI and KMG and their member firms joined forces. Today, all member firms throughout the world carry the KPMG name exclusively or include it in their national firm names.

KPMG Today

After completing what was the accounting profession's first mega-merger, KPMG has taken a number of strategic decisions to transform the professional services industry.

• It was the first multidisciplinary organization to globally deploy a risk-based audit approach.
  
• KPMG has strengthened its global organization by creating three operating regions - the Americas, Europe/Middle East/Africa and Asia Pacific. It was the first organization to take such an aggressive step in uniting national and local resources - people, ideas, products, technologies and knowledge.
  
• Innovation centers have been established for KPMG's Audit and FAS practices, which operate as unique multinational research and development "labs." The centers allow KPMG to develop, test, and customize tools and services for specific industries and clients.
  
• An online collaborative tool, KClient, has been developed to enable knowledge exchange and information sharing between KPMG professionals and clients. KClient helps place the right people on the ground, at the right moment, to work with clients.

Today, individual member firms of KPMG International, a Swiss cooperative of which all KPMG firms are members, carry the KPMG name exclusively or include it in their national firm names.