KPMG was formed in 1987 with the merger of Peat Marwick International (PMI) and Klynveld Main Goerdeler (KMG) and their individual member firms. Spanning three centuries, the organization's history can be traced through the names of its principal founding members - whose initials form the name "KPMG."
K stands for Klynveld. Piet Klynveld founded the accounting firm Klynveld Kraayenhof & Co. in Amsterdam in 1917.
P is for Peat. William Barclay Peat founded the accounting firm William Barclay Peat & Co. in London in 1870.
M stands for Marwick. James Marwick founded the accounting firm Marwick, Mitchell & Co. with Roger Mitchell in New York City in 1897.
G is for Goerdeler. Dr. Reinhard Goerdeler was for many years chairman of Deutsche Treuhand-Gesellschaft and later chairman of KPMG. He is credited with laying much of the groundwork for the KMG merger.
In 1911, William Barclay Peat & Co. and Marwick Mitchell & Co. joined forces to form what would later be known as Peat Marwick International (PMI), a worldwide network of accounting and consulting firms.
In 1979, Klynveld joined forces with Deutsche Treuhand-Gesellschaft and the international professional services firm McLintock Main Lafrentz to form Klynveld Main Goerdeler (KMG).
In 1987, PMI and KMG and their member firms joined forces. Today, all member firms throughout the world carry the KPMG name exclusively or include it in their national firm names.
KPMG in Taiwan
KPMG was founded in 1952 by Mr. Andrew A. H. Chang. In 1971, the firm entered into an association with Peat Marwick Mitchell & Co., making it one of the oldest internationally affiliated accounting firms in Taiwan. In 1986, KPMG Advisory Services Co., Ltd.(formerly KPMG Consulting Co., Ltd.) was established to provide business and financial advisory services. At KPMG Corporate Finance Co.Ltd., the Financial Advisory Services group serves our clients with a wealth of financial advisory experience and international resources from a powerful knowledge infrastructure and extensive deal flows.
In 1987, with the worldwide merger of PMI and KMG, the firm merged with KMG's practice in Taiwan and became a member firm of KPMG.
The DHS Taiwan firm and four partners of DRT Taiwan merged with KPMG on July 1, 1991.
Effective January 1, 1999, the firm merged with the Taiwan member firm of Coopers & Lybrand.