New Zealand

Glossary 

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.


Audit Committee Institute

How we in KPMG refer to our team that includes Management Consulting, Risk Consulting and Transactions and Reporting

Advanced Measurement Approach

Anti-Money Laundering

KPMG established the Audit Committee Institute (ACI) to help audit committee members keep pace with business issues related to governance, audit, accounting, and financial reporting. Since its inception in1999, KPMG has launched ACIs in 20 countries.

Services designed to help clients address specific issues which may relate to major regulatory or reporting changes or to the need for special expertise on accounting matters.

International capital adequacy framework for deposit taking institutions (banks, etc)

Business Development

Business Measurement Process (KPMG's audit methodology)

Business Performance Services

KPMG's Business Advisory professionals advise medium sized and privately owned and managed businesses. The name of this team changed in 2013 to Private Enterprise.

Chartered Accountant -professional qualification awarded by NZICA

Compound Annual Growth Rate

Capital Adequacy Standard

Chief Executive Officer

Corporate Finance

Chief Financial Officer

Chief Information Officer

Top level of company executives- CEO, CFO etc

Consumer Markets

Chief Operating Officer

Certified Practicing Accountant

Earnings Before Interest, Taxes, Depreciation and Amortisation

Energy and natural resources. The ENR sector includes oil and gas, power and utilities, mining and forestry industries.

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.

Enterprise risk management

Enterprise Risk Management frameworks

Executive Search & Selection

Professionals dealing with the valuation and sale of property.

Emissions Trading Scheme.

Financial Advisory Services 

Fast Moving Consumer Goods

Financial Risk Management

Financial Services

Free Trade Agreement

Foreign Exchange

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

Government

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.

Joint venture

Knowledge Management

Key Performance Indicators

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.

A network of KPMG professionals based in KPMG member firms providing services to clients in the electronics and software sectors.

A network of KPMG professionals based in KPMG member firms providing financial services.

A network of KPMG professionals based in KPMG member firms providing tax services to organizations in the financial services sector.

A network of KPMG professionals based in KPMG member firms providing services to clients in the automotive sector

A network of KPMG professionals based in KPMG member firms providing services to clients in the chemicals sector.

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 International Financial Reporting Group. A network of KPMG professions based in KPMG member firms providing international financial reporting services.

A network of KPMG professionals based in KPMG member firms providing indirect tax services.

KPMG International Cooperative (KPMG International) is a Swiss entity that serves as a coordinating entity for a network of independent firms.

Learning & Development

KPMG partner with overall responsibility for managing the KPMG member firms' relationship with the client.

Line of Business. An industry sector group classification used by KPMG.

Mergers and acquisitions

Managing Director

National Managing Partner. A KPMG internal title for the partner responsible for one of the divisions, e.g. Audit, Tax, Advisory or Private Enterprise.

NZ Emissions Trading Scheme

Organisation for Economic Co-operation and Development

Private equity

Private finance initiatives

Public private partnership

Performance, Risk and Compliance

KPMG's team focused on the needs of New Zealand SMEs and privately-owned businesses.

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

Research and Development

Risk Advisory Services

Reserve bank of New Zealand

Request for proposal

Return on investment

Small to medium enterprise

Subsidiary of larger company, often based in another country

Telecommunications company

Weighted Average Cost of Capital