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Glossary 

Definitions, acronyms and terms that are used within this website:

 

 

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.

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Legislation regarding the regulation of hazardous materials.

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Advanced measurement approach

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International Accounting Standards Board

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Anti-money laundering

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Internal Capital Adequacy Assessment Process

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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.

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Islamic financial institutions

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Brazil, Russia, India and China

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International Financial Reporting Standards

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Capital Adequacy Standard

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Islamic Financial Services Board

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Central and Eastern Europe

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KPMG web-based transfer pricing platform.

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End of Life Vehicles Directive. EU legislation.

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Integrated regulatory reporting

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Europe, Middle East and Africa region

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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.

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Energy & Natural Resources. The ENR sector includes oil and gas, power and utilities, mining and forestry industries.

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Through the Global Client Program Financial Services coordinates global service delivery, to clients aligning their line of business, functions and regional needs.

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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.

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KPMG International Financial Reporting Group. A single independent unit based in the U.K. providing international financial reporting services.

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Enterprise Risk Management frameworks

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Mobile network operators

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U.K. usage: estate agent; US usage: realtor. Professionals dealing with the valuation and sale of property.

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Organisation for Economic Co-operation and Development

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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.

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Original equipment manufacturer(s)

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Legislative regime that came into effect in 1992.

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Private finance initiatives

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EU legislation.

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Public private partnership

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Legislative regime to come into effect in 2008.

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Where permitted, assisting clients with the preparation, due diligence or attestation required as part of a process to obtain financing.

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Earned value management project management software. Software that evaluates contractor management.

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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.

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Fast moving consumer goods

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Restriction of Hazardous Substances Directive

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People, processes, technology and risk/control

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Risk-weighted capital ratio

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U.K. Financial Services Authority

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US Securities and Exchange Commission

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Global Assignment Policies and Practices

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KPMG proprietary software

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Gulf Co-operation Council

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Known as Basel IA

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Global Tax Management System. A KPMG proprietary system.

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Waste Electrical and Electronic Directive

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

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