KPMG is a professional services firm that helps its clients with a variety of financial, tax, business development, and technology consulting services. KPMG is widely recognized as one of the “Big Four” accounting firms, alongside Deloitte, PwC, and EY. Read on to learn more about what KPMG does as a business.
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What Is KPMG?
When Peat Marwick International and Klynveld Main Goerdeler combined their respective member companies in 1987, the KPMG network resulted.
KPMG is dedicated to providing its enterprise customers with services that demonstrate a dedication to quality and ethics, as well as a passion for client success.
KPMG aims to benefit and enhance the communities where its firms are present. They encourage confidence and support change management strategies across industries that are facing growing amounts of upheaval and digital transformation needs.
What Does KPMG Do as a Company?
As a company, KPMG is one of the top providers of risk, business and financial advising, tax and legal, audit, and corporate governance services. Beyond these core services and functions, KPMG specializes in a few key industries.
What Industries Does KPMG Work With?
KPMG offers a portfolio of knowledge and experience when it comes to solving the international business community’s problems. These are the primary industries with which KPMG partners:
- Financial services
- Consumer and retail
- Industrial manufacturing
- Energy and natural resources
- Infrastructure and government
- Healthcare and life sciences
What Services Does KPMG Offer Its Customers?
KPMG offers its customers four primary services:
Audit and assurance
For its audit and assurance services, KPMG has adopted innovative technologies that have redefined the audit process and increased satisfaction among its clients. KPMG is particularly devoted to providing special audits.
KPMG is a pioneer in advancing audit by utilizing the potential of developing technology to deliver high-quality audits and novel insights.
The firm’s Microsoft Azure-powered Clara is an innovative and user-friendly audit platform, one of the sector’s top technology advancements from an audit standpoint. It supports upgraded audit techniques through a data-enabled workflow as a wholly integrated, flexible, cloud-based platform. On the customer side, KPMG Clara offers a central location and dashboard with 24/7 visibility into audit progress.
Tax and legal
Within its tax and legal practice, KPMG offers several specialized services:
KPMG’s business tax group specializes in transfer pricing issues, M&A deals, structuring international income taxes, and reactions to regulatory change. This division of KPMG’s tax and legal practice has developed various services to work efficiently and provide value on multidisciplinary projects for global tax companies and leaders.
Private enterprise tax
The need for solid tax guidance is now more critical than ever. Private enterprises worldwide face many opportunities and problems due to geopolitical developments, technological innovation, globalization, and new consumer and business expectations. KPMG’s private enterprise tax team specializes in helping private companies meet new tax regulations and best practices.
Global indirect tax
Professionals from KPMG’s global indirect tax services integrate technical expertise in indirect tax with in-depth knowledge of business and industry concerns and how they affect different regions around the globe.
Leaders in tax and related industries must constantly review and update outdated operations to meet new regulatory requirements. Professionals from KPMG can provide a holistic approach to compliance transition, assisting tax and other corporate leaders in changing their target operating models via sourcing and technology solutions. KPMG’s introduction of cutting-edge technologies helps tax and finance clients lower costs, gain efficiencies, and maintain or even raise the quality of corporate and indirect tax compliance.
Global mobility and employment
To make maintaining a worldwide workforce simpler, safer, and more effective, KPMG’s global mobility services team combines a variety of tax, immigration, and mobile administration services.
KPMG’s Advisory division works with the top companies around the world to build and safeguard the long-term value of their enterprises. Below are the particular client issues that KPMG focuses on in their Advisory practice:
Management, risk, and compliance strategies are growing increasingly important as compliance (and related noncompliance) costs skyrocket. Leaders are adopting automation to improve their operations, procedures, and even marketing strategies. Automation promotes resilience and agility in response to the continual changes in regulation that threaten to stifle innovation and growth.
Environmental, social, governance (ESG) and sustainability
Environmental regulators, governments, and even customers are putting pressure on executives to demonstrate that their companies are performing ethically and sustainably. To create resilient companies that recognize and achieve sustainability goals, KPMG offers its customers ways to integrate ESG into their business plans.
Digital adoption and transformation
Customer experience, operational excellence, and the ability to compete improve significantly with new personnel and technology combinations. To help this kind of growth, KPMG offers digital transformation services. The firm’s approach to digital transformation involves unifying all areas for a collection of objectives: optimized operations, more effective data use, and/or the creation of new business models.
The best companies embrace risk as the fuel for expedited growth and competitive advantage when they have risk management strategies in place. KPMG’s services offer insight-driven risk optimization as a value creator.
In order to grow their businesses sustainably, leaders must contend with increasing changes in technology, customer expectations, and society as a whole to create companies that perform well in the future. To produce better, long-lasting results, KPMG helps its customers with organizational restructuring and other future-planning strategies.
KPMG’s private enterprise advisors specifically work to support entrepreneurs as they ideate and strategize their future business goals. This specific group within KPMG helps clients that are trying to reach the next level, embrace technology, manage a transition in company leadership, or solve other business problems that primarily affect private enterprises.