New Zealand


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.

Generally accepted accounting principles - accounting ‘rules’ for particular country e.g. US GAAP, UK GAAP, AGAAP, NZ GAAP (for New Zealand) etc

Green house gas


Goods and services tax

Global Tax Management System. 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

Internal Audit Services

International Accounting Standards Board

Information, Communications & Entertainment

International Corporate Tax

International Financial Reporting Group

International Financial Reporting Standards

Industrial Markets

KPMG web-based transfer pricing platform

Intellectual property

Initial Public Offering, when a private company is listed on a stock exchange for the first time

Information Risk Management

Integrated regulatory reporting

Information Technology

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