It is the nature of business to shorten names and titles to acronyms and to have an ever-increasing number of terms which might puzzle the uninitiated. This page offers some definitions of commonly used acronyms and terms.

Fast moving consumer goods

People, processes, technology and risk/control

Financial Reporting Audit Program

Financial Reporting Council

Financial Reporting Panel

Financial Services, one of the recognised KPMG Lines of Business.

Financial Statement Audit

Global Assignment Policies and Practices

Gulf Co-operation Council

Green house gas

Global Tax Management System. A KPMG proprietary system.

KPMG Global Transfer Pricing Services practice. A network of KPMG professionals based in KPMG member firms providing transfer pricing services.

Legislation regarding the regulation of hazardous materials.

Human resources

International Association of Insurance Supervisors

International Accounting Standards Board

Internal Capital Adequacy Assessment Process

Information Communication and Entertainment, one of the recognised KPMG Lines of Business.

Islamic financial institutions

International Financial Reporting Interpretations Committee

International Financial Reporting Standards

Islamic Financial Services Board

Institute of Internal Auditors

Industrial Markets, one of the recognised KPMG Lines of Business.

KPMG web-based transfer pricing platform.

Intellectual property

Information Risk Management

Integrated regulatory reporting

Information Security Assessment

Information Systems Audit and Control Association

Information Technology

Evaluation of external IT systems. An IT audit of the value, effectiveness and risk profile of a client's IT systems.

IT Control Review questionnaire can be used for completing control environment reviews.

IT Governance Institute


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