The KPMG network was formed in 1987 when Peat Marwick International and Klynveld Main Goerdeler merged along with their respective member firms.
Principal founding members
There were four key figures in the formation of KPMG. They are the founding members of the present organization.
Klynveld
Piet Klynveld founded the accounting firm Klynveld Kraayenhof & Co in Amsterdam in 1917.
Peat
William Barclay Peat founded the accounting firm Peat & Co in London.
Marwick
James Marwick established the accounting firm Marwick, Mitchell & Co in New York City in 1897.
Goerdeler
Dr. Reinhard Goerdeler was the first president of the International Federation of Accountants and a chairman of KMG. He is credited with laying the foundations of the Klynveld Main Goerdeler merger.
BALASUBRAMANYA B N
(CCI STUDENT....)
(44679 Points)
Replied 10 February 2011
About KPMG
KPMG international operates as a network of member firms offering audit, tax and advisory services. We work closely with our clients, helping them to mitigate risks and grasp opportunities.
Member firms' clients include business corporations, governments and public sector agencies and not-for-profit organizations. They look to KPMG for a consistent standard of service based on high order professional capabilities, industry insight and local knowledge.
KPMG member firms can be found in over 146 countries. Collectively they employ more than 140,000 people across a range of disciplines.
Sustaining and enhancing the quality of this professional workforce is KPMG’s primary objective. Wherever we operate we want our firms to be no less than the professional employers of choice.
Our people embrace KPMG’s values. These values determine how we interact with clients, with each other and with the world around us. They define what we stand for and how we do things.
We contribute to the effective functioning of international capital markets. We support reforms that strengthen the markets’ credibility and their social responsibility. We believe that similar reform must extend to the professional realm.
At KPMG we try to create sustainable, long-term economic growth, not just for our member firms and their clients but for the broader society, too. We seek to be a good corporate citizen, making a real difference to the communities in which we operate.
BALASUBRAMANYA B N
(CCI STUDENT....)
(44679 Points)
Replied 10 February 2011
Ernst & Young in India
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 141,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential.
Ernst & Young operates from 8 cities* in India (www.ey.com/india ) with a work force of over 7500** people, who work towards the firm’s vision of being the trusted business advisor that contributes most to the success of people and clients by creating value and confidence. Global Tax Advisory Services, Risk Advisory Services, Transaction Advisory Services and Business Advisory Services are the core services offered by the firm in India.
* Ernst & Young has offices in National Capital Region (New Delhi, Gurgaon, Noida), Mumbai, Chennai, Kolkata, Hyderabad, Bangalore, Ahmedabad and Pune.
** The numbers include personnel from other member firms of Ernst & Young Global, in India
Our values
Our values
Two people. One vision.
It has taken the bold leadership and countless contributions of people around the world to form the leading global organization Ernst & Young is today. Our roots go back to the 19th century and our founders Arthur Young and Alwin C Ernst.
Arthur Young was born in Glasgow, Scotland. He graduated in law, but became interested in banking and investment. In 1890, he moved to the US to pursue his career in accounting. In 1906, he formed an accounting firm, Arthur Young & Company, with his brother Stanley.
Alwin C Ernst was born in Cleveland, USA. After leaving school he worked as a bookkeeper. Then, in 1903, he and his brother Theodore started Ernst & Ernst, a small public accounting firm.
Both Arthur Young and AC Ernst were innovators and appreciated the importance of quality in their work. Ernst pioneered the idea that accounting information could be used to make business decisions and make a difference to clients’ organizations. He inspired his people to deliver better service to clients. Young also positioned himself as a business advisor as much as an accountant.
Both men understood the importance of their people. In 1920, Ernst & Ernst’s operating philosophy stated: “The success of Ernst & Ernst depends wholly upon the character, ability and industry of the men and women who make up the organization.” Young supported the development of professionals. In the 1920s he originated a staff school and, in the 1930s, the firm was the first to recruit from university campuses.
Both firms were also quick to enter the global marketplace. As early as 1924, they allied with prominent British firms: Young with Broads Paterson & Co and Ernst with Whinney Smith & Whinney. These alliances were the first of many for both firms, which opened offices around the world to service their international clients.
AC Ernst and Arthur Young never met in life, but died within days of each other in 1948. However their philosophies lived on and, in 1989, were brought together when the firms they started combined to create Ernst & Young. The new organization quickly positioned itself on the leading edge of rapid globalization, new business technologies and continuous business change.
AC Ernst and Arthur Young would surely be proud of the result — a global organization of 144,000 people sharing their ideals and passion to help clients improve their businesses around the globe.
BALASUBRAMANYA B N
(CCI STUDENT....)
(44679 Points)
Replied 10 February 2011
History and milestones
PricewaterhouseCoopers (now PwC), formed in 1998 from a merger between Price Waterhouse and Coopers & Lybrand, has a history in client services that dates back to the nineteenth century. Both accounting firms originated in London during the mid 1800s. Today, PwC serves 26 industries. Our industry-focused services in the fields of assurance, tax, human resources, transactions, performance improvement and crisis management have helped resolve complex client and stakeholder issues worldwide. We also bring our expertise and talents to help educational institutions, the federal government, non-profits, and international relief agencies address their unique business issues.
Set out below are some key milestones in the history of both firms.
1849 – Samuel Lowell Price sets up in business in London.
1854 – William Cooper establishes his own practice in London, which seven years later becomes Cooper Brothers.
1865 – Price, Holyland and Waterhouse join forces in partnership 1874 Name changes to Price, Waterhouse & Co.
1898 – Robert H. Montgomery, William M. Lybrand, Adam A. Ross Jr. and his brother T. Edward Ross form Lybrand, Ross Brothers and Montgomery.
1957 – Cooper Brothers & Co (UK), McDonald, Currie and Co (Canada) and Lybrand, Ross Bros & Montgomery (US) merge to form Coopers & Lybrand.
1982 – Price Waterhouse World Firm formed.
1990 – Coopers & Lybrand merges with Deloitte Haskins & Sells in a number of countries around the world.
1998 – Worldwide merger of Price Waterhouse and Coopers & Lybrand to create PricewaterhouseCoopers.
2002 – PricewaterhouseCoopers' partners approve sale of PricewaterhouseCoopers Consulting to IBM.
2004 – PricewaterhouseCoopers implements the Connected Thinking methodology.
2010 - PricewaterhouseCoopers formally shortened its brand name to PwC. "PricewaterhouseCoopers" remains the full name of the global organisation for legal purposes, and will be the name used by PwC firms to sign company audits.
Our commitment: Deliver value, with you, every day
Imagine the power of 160,000 people with a common purpose — building relationships that create value for you and your business. This is PwC. Every day, our people work with you to build the value you are looking for.
We'll start by getting to know you. You do the talking, we'll do the listening. Our tailored solutions will help you meet the challenges and opportunities of doing business in the US market, and beyond.
We bring a global perspective along with in-depth knowledge of local, state and US issues. In 1998, Price Waterhouse and Coopers & Lybrand merged to create PricewaterhouseCoopers. We have a long history of delivering value-added professional services to our clients. Our accounting practice originated in London during the mid-1800's.
Our reputation lies in building lasting relationships with our clients and a focus on delivering value in all we do. We share our knowledge and expertise to help you reach the goals you set for your business.
PwC office locations in India
Below is a list of offices for India
Offices are listed alphabetically by city.
Ahmedabad
PricewaterhouseCoopers Pvt Ltd
President Plaza, 1st Floor
Opposite Muktidham Derasar
Thaltej Cross Road, S.G. Highway
Ahmedabad, Gujarat 380054
India
BALASUBRAMANYA B N
(CCI STUDENT....)
(44679 Points)
Replied 10 February 2011
History
It has been more than 150 years since William Welch Deloitte opened his own accountancy office across the street from Bankruptcy Court on Basinghall Street in London. Learn all about the history of Deloitte from the timeline below:
1833 At the age of 15, William Welch Deloitte becomes an assistant to the Official Assignee at the Bankruptcy Court in the City of London. This was the ideal apprenticeship at that time for a young man with an interest in the rapidly developing field of public accounting.
1845 Deloitte opens his own accountancy office opposite the Bankruptcy Court on Basinghall Street, London.
1849 In connection with the accounts of the Great Western Railway, W.W. Deloitte becomes the first person ever appointed as an independent auditor. Deloitte makes his reputation in particular through his work in the railroad industry — the "Web" of its day. During the 1850s and 1860s, he develops the system for keeping railway accounts, subsequently adopted as the industry standard, that protected investors from mismanagement of funds. He also develops a system of account-keeping for hotels that was universally adopted by large hotels in Great Britain and overseas.
1854 Royal Charter is granted to the Society of Accountants in Edinburgh, the first organized body of public accountants in the world. Among its founders was Alexander Thomas Niven, under whose tutelage George A. Touche would qualify as an accountant in Edinburgh 29 years later, before setting off for London to practice his profession.
1857 Deloitte accepts his first partner, Thomas Greenwood, who contributed £800 in capital. The firm becomes known as Deloitte & Greenwood.
1867 The Railway Companies Act lays down the auditor's duties and responsibilities. A statutory form of railway accounts was prescribed in 1868, and it is believed that Deloitte played a major part in designing the form and contents of such accounts — probably the first prescribed form of accounts in the modern sense.
1869 Admission to the partnership (at age 24) of John George Griffiths, who exercised a major influence on the growth of the firm until his retirement in 1902. For this entire period, the firm is known as Deloitte, Dever, Griffiths & Co.
1880 Royal Charter issued incorporating the Institute of Chartered Accountants in England and Wales, with W.W. Deloitte, Henry Dever, and John Griffiths among the founding members. Philip S. Ross co-founds North America's first accounting society.
1880 First overseas Deloitte office opens in New York. Branches of this New York outpost are subsequently established in Cincinnati (1905), Chicago and Montreal (1912), Boston (1930), and Los Angeles (1945).
1893 Charles Waldo Haskins and Elijah Watt Sells meet in Washington, D.C. while working for the Dockery Commission of the U.S. Congress, which was undertaking the first comprehensive revision of the federal government's accounting practices since the time of George Washington. Two years later, they form a partnership — Haskins & Sells — based in New York City.
1897 Retirement of William Welch Deloitte.
1898 George Touche establishes his own firm in London.
1900George Touche and John Ballantine Niven form Touche, Niven & Co. in New York. At that time, there were fewer than 500 certified public accountants in the U.S. Staff complement of Deloitte reaches 80 persons. Fees that year total £41,193.
1901 Haskins & Sells opens first regional office in Chicago and first overseas office in London.
1902 For the first time, a "lady typist" (sic) is engaged by the London office of Deloitte.
1905 Deloitte, Dever, Griffiths & Co. becomes Deloitte, Plender, Griffiths & Company. In the Hughes insurance investigation, which rocked the financial world and led to comprehensive revisions in the accounting methods of life insurance companies, Deloitte's New York office collaborates for the first time with the firm of Haskins & Sells.
1911 Firm of George A. Touche & Co. is established in Canada.
1917 George Touche is knighted by George V. Three years later, he is made a baronet of the United Kingdom.
1925 Two of our U.K. and U.S. predecessor practices form a co-partnership in several countries under the name Deloitte, Plender, Haskins & Sells.
1933 Congressional testimony by Haskins & Sells Managing Partner Arthur Hazleton Carter is instrumental in promoting the establishment of the SEC, as well as the requirement that public accountants audit the financial statements of all publicly traded companies.
1947 George Bailey & Co. is formed. Merges with Allen R. Smart & Co. and Touche, Niven & Co. to become Touche, Niven, Bailey & Smart. The first partners' meeting, held in Highland Park, Illinois, is attended by the firm's 33 partners. Net service revenues for the first year are US$3.6 million.
1952Nobuzo Tohmatsu qualifies as a certified public accountant in Japan and becomes a partner in a foreign-affiliated accounting firm.
1952 Agreement reached to merge the businesses of Deloitte, Plender, Griffiths & Company and Haskins & Sells in the U.S., under the name Deloitte Haskins & Sells.
1960 Touche, Niven, Bailey & Smart merges with George Touche & Co. (Britain) and Ross, Touche & Co. (Canada) to form Touche, Ross, Bailey & Smart.
1961 Issuance of American Depositary Receipts in New York by Sony and Toshiba — the first Japanese companies to sell their securities in the U.S.
1965 Fraudulent bankruptcy of the Sanyo Special Steel Company leads to changes in Japan's Certified Public Accountant Law to provide for the formation of audit corporations similar to accounting partnerships in the U.S. and elsewhere.
1968 Under the leadership of Nobuzo Tohmatsu, Founding Partner, Tohmatsu Awoki & Co. (later Tohmatsu & Co.) starts operations with 10 partners and staff in Tokyo and smaller, loosely affiliated practices in four other Japanese cities. By 1989, the firm has 800 people in its Tokyo office alone, and a network of other offices throughout Japan, as well as Japanese professionals on assignment in Touche Ross offices around the world.
1969 Adoption of the name Touche Ross & Co., at the conclusion of a decade during which mergers were completed with more than 50 other firms in the U.S. and formal associations created with national firms in 55 countries.
1972 Touche Ross Chairman Robert Trueblood chairs a committee that leads to the establishment of the Financial Accounting Standards Board — the FASB.
1975 Formal agreement is signed by which Tohmatsu Awoki & Co. become part of the Touche Ross International network.
1978 The name Deloitte Haskins & Sells is adopted.
1985 Creation of the Office of the Chairman Program (now the Global Strategic Clients Program).
1990 Merger that creates Deloitte & Touche.
1993 International firm is named Deloitte Touche Tohmatsu Limited.
1996 Deloitte & Touche Eastern Europe divided into two organizations — Deloitte & Touche Central Europe and Deloitte & Touche CIS.
1997 Deloitte & Touche Central America is established.
2000 Deloitte Touche Tohmatsu Limited became a founding member of the United Nations Global Compact, which seeks to promote responsible global citizenship by advancing universal values in business operations around the world.
21st Century
2002 Deloitte Touche Tohmatsu Limited’s global revenues were US$12.5 billion.
2003 A decision to not separate Deloitte Consulting allows Deloitte Touche Tohmatsu Limited to maintain its wide and deep range of multidisciplinary capabilities.
2003 On June 1, William G. Parrett is named Chief Executive Officer of Deloitte Touche Tohmatsu Limited. Parrett joined the organization in 1967, and became a partner in 1977.
2003 On October 1, Deloitte Touche Tohmatsu Limited records its 10th consecutive year of annual growth, with combined worldwide revenues from its member firms totaling US$15.1 billion. Additionally, the global organization announces the launch of the new brand name “Deloitte.” The change means that the firms known in various national and global markets as Deloitte Touche Tohmatsu Limited and Deloitte & Touche, while retaining their local legal names, will now be known by the brand “Deloitte.”
2005 On August 29, William Parrett, CEO Deloitte Touche Tohmatsu Limited, announces the name of a strengthened Korean Deloitte member firm—Deloitte Anjin LLC, the result of a transaction between Deloitte Hana and Anjin LLC.
2005 On September 1, Deloitte Touche Tohmatsu Limited China merges with Pan-China Schinda, the second merger in the Mainland that year following a deal with Beijing Pan-China CPA Ltd.
2005 On December 19, Deloitte Touche Tohmatsu Limited records its 12th consecutive year of annual growth, with combined worldwide revenues from its member firms totaling US$18.2 billion, a 10.9 percent increase over 2004 revenues of US16.4 billion.
2006 Deloitte Touche Tohmatsu Limited announces aggregate revenues of more than US$20 billion in the fiscal year ending 31 May 2006, an increase of 10 percent over 2005. It is the fourth consecutive year of double-digit revenue growth and the 13th consecutive year of continued growth.
2007 On June 1, James H. Quigley is named Chief Executive Officer of Deloitte Touche Tohmatsu Limited, succeeding William G. Parrett. In addition, John P. Connolly is named the new Chairman of the Board of DTT, succeeding Piet Hoogendoorn.
2007 Deloitte Touche Tohmatsu Limited announces aggregate revenues of US$23.1 billion in the fiscal year ending 31 May 2007, an increase of 15.5 percent over 2006. It is the fifth consecutive year of double-digit revenue growth and the 14th consecutive year of continued growth.
2008 Deloitte Touche Tohmatsu Limited announces aggregate revenues of US$27.4 billion in the fiscal year ending 31 May 2008, an increase of 18.6 percent over 2007. It is the sixth consecutive year of double-digit revenue growth. In addition, Deloitte grew by approximately 15,000 people in the past year, with considerable growth in emerging markets.
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Deloitte Office Locator
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2002 Deloitte Touche Tohmatsu Limited’s global revenues were US$12.5 billion.
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