ACI
KPMG established the Audit Committee Institute (ACI) to help audit committee members keep pace with business issues relating to governance, audit, accounting and financial reporting. Since its inception in 1999, KPMG member firms have launched ACIs in 20 countries.
AMA
Advanced measurement approach
AML
Anti-money laundering
Audit related services
Services designed to help clients address specific issues which may relate to major regulatory or reporting changes or to the need for special skills on accounting matters.
BRIC economies
Brazil, Russia, India and China
CAS
Capital Adequacy Standard
CEE
Central and Eastern Europe
CFO
Chief Financial Officer
ELV
End of Life Vehicles Directive. EU legislation.
EMA
Europe, Middle East and Africa region
ENR
Energy & Natural Resources. The ENR sector includes oil and gas, power and utilities, mining and forestry industries.
Enterprise 2.0
Enterprise social software (E2.0). The use of an entire suite of emergent technologies — wikis, blogs, tagging, and social networking tools — both inside companies and between companies and the outside world.
ERM
Enterprise risk management
ERMs
Enterprise Risk Management frameworks
Estate agent / realtor
UK usage: estate agent; US usage: realtor. Professionals dealing with the valuation and sale of property.
EU-ETS
EU Emissions Trading Scheme. Launched in January 2005 with mandatory GHG (green house gas) emission controls for industrial activities from 1 January 2005. Currently focusing on activities including the production and the manufacture of ferrous metals, pulp and paper, the scope of the scheme is expected to be widened to include other GHG emissions and industrial activities from January 2008.
Euro I
Legislative regime that came into effect in 1992.
Euro IV exhaust emission standards
EU legislation.
Euro V
Legislative regime to come into effect in 2008.
EVM project management software
Earned value management project management software. Software that evaluates contractor management.
FMCG
Fast moving consumer goods
Four dimensions of business change, the
People, processes, technology and risk/control
FSA
UK Financial Services Authority
GAPP survey
Global Assignment Policies and Practices
GCC
Gulf Co-operation Council
GHG
Green house gas
GTMS
Global Tax Management System. A KPMG proprietary system.
GTPS
KPMG Global Transfer Pricing Services practice. A network of KPMG professionals based in KPMG member firms providing transfer pricing services.
HAZMAT legislation
Legislation regarding the regulation of hazardous materials.
HR
Human resources
IASB
International Accounting Standards Board
ICAAP
Internal Capital Adequacy Assessment Process
IFIs
Islamic financial institutions
IFRS
International Financial Reporting Standards
IFSB
Islamic Financial Services Board
Interpreter®
KPMG web-based transfer pricing platform.
IP
Intellectual property
IRR
Integrated regulatory reporting
IT
Information Technology
IT due diligence
Evaluation of external IT systems. An IT audit of the value, effectiveness and risk profile of a client's IT systems.
JV
Joint venture
KPMG 404 Institute
A forum where organizations can learn more about the requirements of section 404 of the Sarbanes-Oxley Act, and discuss ways to address the evolution of effective internal controls.
KPMG Electronics, Software and Services practice
A network of KPMG professionals based in KPMG member firms providing services to clients in the electronics and software sectors.
KPMG ENR Tax Masterclass training program
The Masterclass training program is a cooperative approach to learning. Built around case study workgroups, over the course of two days, the workgroups and the client work together discussing client issues, brainstorming possible solutions, and cultivating a client/KPMG network.
KPMG Financial Services Global Client Program
Through the Global Client Program Financial Services coordinates global service delivery, to clients aligning their line of business, functions and regional needs.
KPMG Financial Services practice
A network of KPMG professionals based in KPMG member firms providing financial services.
KPMG Financial Services Tax practice
A network of KPMG professionals based in KPMG member firms providing tax services to organizations in the financial services sector.
KPMG Global Automotive Sector practice
A network of KPMG professionals based in KPMG member firms providing services to clients in the automotive sector.
KPMG Global Chemicals Sector practice
A network of KPMG professionals based in KPMG member firms providing services to clients in the chemicals sector.
KPMG Global Energy & Natural Resources practice
A network of KPMG professionals based in KPMG member firms providing services to clients in the energy and natural resources sectors.
KPMG Global Energy Conference
The KPMG Global Energy Conference is held annually in Houston, Texas, USA.
KPMG Global Energy Institute
For financial executives in the energy industry to learn about the industry challenges and opportunities, share leading practices and conduct an ongoing dialogue about emerging energy-industry issues.
KPMG Global ENR Tax practice
A network of KPMG professionals based in KPMG member firms providing tax services to clients in the energy and natural resources sectors.
KPMG Global Financial Services Tax practice
A network of KPMG professionals based in KPMG member firms providing tax services to clients in the financial services sector.
KPMG Global Food, Drink and Consumer Goods practice
A network of KPMG professionals based in KPMG member firms providing services to clients in the food, drink and consumer goods sectors including food, drink, tobacco, apparel, consumer durables fast moving consumer goods (FMCG), and luxury goods.
KPMG Global Forensic group
A network of KPMG professionals based in KPMG member firms providing forensic services.
KPMG Global Government practice
A network of KPMG professionals based in KPMG member firms providing services to clients in government.
KPMG Global Industrial Products practice
A network of KPMG professionals based in KPMG member firms providing services to clients in the industrial products sector including industrial manufacturing, aerospace and defense, machinery and electrical equipment manufacturing, metal processing and metal products.
KPMG Global Real Estate and Construction practice
A network of KPMG professionals, based in KPMG member firms providing services to clients in the real estate and construction sectors.
KPMG Global Retail practice
A network of KPMG professionals based in KPMG member firms providing services to retail clients.
KPMG Global Tax Outsourcing practice
KPMG GTO practice. A network of KPMG professionals based in KPMG member firms providing global tax outsourcing services.
KPMG Global Transfer Pricing Services practice
A network of KPMG professionals based in KPMG member firms providing global transfer pricing services.
KPMG Global Transport practice
A network of KPMG professionals based in KPMG member firms providing services to clients in the transport sector including aviation, shipping and ports, land transport, road freight and logistics.
KPMG GTO practice
KPMG Global Tax Outsourcing practice. A network of KPMG professionals based in KPMG member firms providing global tax outsourcing services.
KPMG IFRG
KPMG International Financial Reporting Group. A single independent unit based in the U.K. providing international financial reporting services.
KPMG Indirect Tax practice
A network of KPMG professionals based in KPMG member firms providing indirect tax services.
KPMG International
KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent firms.
KPMG International Board
The International Board has an overall mandate to review, endorse and implement the policies and regulations of KPMG International.
KPMG International Corporate Tax practice
A network of KPMG professionals based in KPMG member firms providing international corporate tax services.
KPMG International Council
The International Council approves common goals and significant new policies to make sure the network of member firms that comprise KPMG International is developed, governed and managed effectively. The Council meets at least twice a year.
KPMG International Management Committee
An eight-member International Management Committee, which meets at least six times a year, is responsible for debating key issues and making recommendations to the main Board.
KPMG IT Advisory Team
A network of KPMG professionals based in KPMG member firms providing IT advisory services.
KPMG Private Equity Group
A network of KPMG professionals based in KPMG member firms providing services to clients in the private equity market.
Kyoto Protocol
International climate change accord
Lead partner
KPMG partner with overall responsibility for managing the KPMG member firms' relationship with the client.
M&A
Mergers and acquisitions
MNOs
Mobile network operators
M-payments
Mobile payments
OECD
Organisation for Economic Co-operation and Development
OEM / OEMs
Original equipment manufacturer(s)
PFI
Private finance initiatives
PPP
Public private partnership
Prospective reporting
Where permitted, assisting clients with the preparation, due diligence or attestation required as part of a process to obtain financing.
R&D
Research and development
REACH
Registration, Evaluation and Authorization of Chemicals. European Union (EU) directive which came into effect on June 1, 2007 and requires chemical manufacturers and importers in the EU to prove the safety of their products.
RoHS
Restriction of Hazardous Substances Directive
RWCR
Risk-weighted capital ratio
SAVCA
South African Venture Capital & Private Equity Association
SEC
US Securities and Exchange Commission
Social security
In the UK, National Insurance.
SPVs
Special purpose vehicles
Takaful
Islamic insurance.
TaxCube
KPMG proprietary software.
US Basel II
Known as Basel IA.
VAT
Value Added Tax
WEEE
Waste Electrical and Electronic Directive.
WTO
World Trade Organization