...Criteria The most important characteristic that I am looking for in a potential employer is a family friendly culture and environment. KPMG and Pricewaterhouse Cooper's both offer that environment. However Pricewaterhouse Cooper offers substantially more services aimed at the working mother. It is obvious that they have a sincere appreciation for their working mothers. They have been named by Working Mother magazine as one of the top ten best companies to work for as a working parent. They have appeared in the magazine an astonishing seventeen times. There is an extensive amount of questioning that ranges in the flexibility of their programs and the usabilty of them, and also the responsiveness of managers. (PwC Ranked Among Ten Best Companies by Working Mother Magazine, 2011) I am not concerned with the size of the company but they do employ over 160,000 people worldwide which will allow me to develop networking contacts that I might not have been able to make if I were to work in a smaller company. They are headquartered in the United Kingdom and have offices worldwide. I am not afraid of having to relocate and am hopeful that I will be allowed to relocate overseas and experience Europe with my family while working on my career. In addition to a family friendly culture I am concerned with the reputation of a company and their social responsibilty. Pricewaterhouse Cooper embraces those qualities by improving their business practices, reducing their carbon footprint...
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...Evolution of Knowledge Management toward Enterprise Decision Support: The Case of KPMG Daniel E. O’Leary Marshall School of Business, University of Southern California, Los Angeles, CA, USA Realizing that knowledge and its proper management are essential for effective decision support, this chapter traces the evolution of knowledge management within a major professional services firm – KPMG. By supporting decision making, computer-based systems for managing knowledge can impact organizational performance and the very nature of the organization itself. Here, we examine a progression of knowledge management systems at KPMG, beginning with the 1997 condition of having disparate or no knowledge management systems and culminating with an enterprise-wide integrated system accommodating both locally and globally managed knowledge. Strategically, knowledge-management advances were used to transform the firm from being a confederation of local enterprises to a global enterprise. This chapter investigates why KPMG pursued the development and implementation of a global knowledge management system. In addition, it summarizes some of the key capabilities and technologies of the resulting knowledge management system, K-World. This chapter also examines some key implementation issues. Finally, the chapter investigates two key problems emerging from the use of the system after its introduction: search and client confidentiality, plus some of the emerging extensions for K-World. Keywords:...
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...Human SECTORS AND THEMES resources Title here and social media Additional information in night? Does social media keep you up at Univers 45 need to know about the What you Light 12pt on 16pt leading opportunities and risks for your workforce kpmg.com kpmg.com Credits and authors in Univers 45 Light 12pt on 16pt leading by Karen Isaacson and Sarah Peacey A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be. Wayne Gretzky Human resources and social media | 1 Contents Executive summary Supercharging talent acquisition and talent management Addressing mobility and collaboration Leveraging the multigenerational workforce Managing the potential risks associated with social media Conclusion … how to get ready 02 04 05 06 09 12 2 | Human resources and social media Executive summary Truly world-class leaders empower key employees to become evangelists for the firm on social media platforms, helping customers, building the brand, attracting talent, and giving a personal face to the company. In addition to the external advantages, these key social media leaders become even more engaged and personally bonded to the company, its mission, and goals if done correctly. These employees can come from anywhere in the organization, from interns, to line personnel, to managers, to product leaders, to executives – but it must be done correctly and be given the support and attention ...
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...Purpose 4 Legal Requirement of Internal Controls 5 IPO Readiness: Financial Internal Controls 5 IPO Readiness: Recommendations 6 Reliable Monthly Reports 6 Adequate Staffing of Financial Departments 6 Implementation of Audit Infrastructure 6 IPO Readiness: LBJ Internal Control Strengths 7 Pre-numbered Invoices 7 Recommendations: Indelible Ink Machine 7 IPO Readiness: LBJ Internal Control Weaknesses 7 Staffing: Accounting Department 7 Staffing: Human Resource Department 8 Recommendations: Handling Petty Cash 8 Recommendations: IT Department Physical Controls 9 Conclusion 9 Works Cited 10 Introduction A company going public today is different than what it was in the dot com era; this is because the IPO landscape has changed significantly in the last decade (KPMG, 2013). Recently experts has seen compression in the markets, decreasing or shifting mergers and acquisition activity, faltering businesses and more scrutiny on balance sheets and company cash as well as access to capital (KPMG, 2013; Morgan Franklin, 2012). Add to these multitudes of new requirements the regulations and requirements of the Sarbanes-Oxley Act and company presidents quickly come to realize that a successful IPO takes significant planning around today’s economic climate. This is especially so around internal controls infrastructure, internal audit and other risk and governance functions (Deloitte & Touche,...
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...Purpose 4 Legal Requirement of Internal Controls 5 IPO Readiness: Financial Internal Controls 5 IPO Readiness: Recommendations 6 Reliable Monthly Reports 6 Adequate Staffing of Financial Departments 6 Implementation of Audit Infrastructure 6 IPO Readiness: LBJ Internal Control Strengths 7 Pre-numbered Invoices 7 Recommendations: Indelible Ink Machine 7 IPO Readiness: LBJ Internal Control Weaknesses 7 Staffing: Accounting Department 7 Staffing: Human Resource Department 8 Recommendations: Handling Petty Cash 8 Recommendations: IT Department Physical Controls 9 Conclusion 9 Works Cited 10 Introduction A company going public today is different than what it was in the dot com era; this is because the IPO landscape has changed significantly in the last decade (KPMG, 2013). Recently experts has seen compression in the markets, decreasing or shifting mergers and acquisition activity, faltering businesses and more scrutiny on balance sheets and company cash as well as access to capital (KPMG, 2013; Morgan Franklin, 2012). Add to these multitudes of new requirements the regulations and requirements of the Sarbanes-Oxley Act and company presidents quickly come to realize that a successful IPO takes significant planning around today’s economic climate. This is especially so around internal controls infrastructure, internal audit and other risk and governance functions (Deloitte & Touche,...
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...Research Ltd. State of the industry 2013 - Agenda • Market Size and Forecast • Key Industry Dynamics • Competitive Landscape • Market Wrap Copyright © 2013 HfS Research Ltd. Outsourcing Smart Governance Disruptive Technologies 2 State of the industry 2013 - Intro • • • • • • Conducted December 2012 / January 2013 The largest-ever quantitative industry study covering both IT and business process outsourcing Respondents included 1355 stakeholders across enterprise buyers, service providers and consultant/influencer organizations The aim of the survey was to understand their views, observations and intentions for 2013 and beyond, when it comes to outsourcing IT and business processes Survey was conducted with the support of KPMG This presentation contains a set of slides with the top level results of the survey Copyright © 2013 HfS Research Ltd. Outsourcing Smart Governance Disruptive Technologies 3 Key Highlights: BPO Adoption and Outlook: • • • • • • • Deal activity rebounds Market forecasted to grow Attitudes towards BPO have gone “back to basics” Attitude of buyers has shifted from the “we can’t” to the “why can’t we?” Key growth industries increasing BPO uptake: Telecom, Software / High Tech, Media and Publishing and Retail/Hospitality. Major industries show slowing growth. BFSI and Manufacturing still dominate a third of the market, but growth has slowed. Market still nascent. Most business functions are still predominately managed in-house...
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...way to reduce taxable income, which in turn reduces taxes. By utilizing legal tax shelters, it is possible to avoid taxes without evading them illegally and suffering consequences. However, in the case presented by Tanina Rostain. KPMG has used tax shelters as a form of tax evasion rather than tax avoidance. My goal in this paper is to discuss how the concept of Groupthink and Rationalization played a role in the partners decisions, point out when tax avoidance becomes tax evasion, Describe how CPA firms can provide high quality tax consulting for their clients without crossing the line into tax evasion, and Finally analyze why KPMG (as an organization) failed to prevent this scandal from occurring at their firm. First of all, when discussing concepts like "Groupthink" and "Rationalization" I prefer to start with a brief definition. "Groupthink occurs when a group makes faulty decisions because group pressures lead to a deterioration of “mental efficiency, reality testing, and moral judgment”(Irving). While " Rationalization is a defense mechanism that involves explaining an unacceptable behavior or feeling in a rational or logical manner, avoiding the true reasons for the behavior"(Cherry). As we can see from these definitions, the tax partners in KPMG showed popular symptoms' of groupthink which are: * "Illusion of invulnerability –Creates excessive optimism that encourages taking extreme risks. * Collective rationalization – Members discount warnings and do not reconsider...
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...In the first part of my paper, I have mentioned that KPMG, as one of the biggest four public accounting firms in the world, is always on the top of lists such as “the most popular employers among graduates”. Every year, thousands of university students and graduates, no matter what backgrounds they are, are well-prepared to combat for the limited internship and full-time positions. At the same time, however, the BIG 4 are notorious for their high turnover rates. As I know, KPMG China has a stable turnover rate every year, at around 20%, extremely higher than other industries. What interests me most is that most employees in the office do not concern about the unusual figure. As the common sense, it is critical for a successful company to maintain a low turnover rate. Not only because it ensures the consistency in the products or services a company provides, but also because it lowers the training expenses for the new employees. However, the case in KPMG is totally different. According to my internship experience in the company, I believe that the phenomenon results from its unique knowledge management and how employees conduct their jobs. In this part, I would like to analyze the two aspects in terms of power and leadership, decision making, innovation and learning and change. I. How employees conduct their jobs Just after one-week intensive training, I started my internship. I was told that what I would do is exactly the same as what an A1 employee does. A1 is at the lowest...
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...ending on, or after, 31 December 2012. So, what is iXBRL? iXBRL combines human-readable information and computer-readable data, with the output being a document, i.e. financial statements, that looks like a Word or Excel document, but which has electronic tags embedded within it. The implications of these new requirements may be far-reaching, and could include: impact on organisational structure; timing of the audit; the statutory account production process; software and I.T. policy; and tax compliance. KPMG in Ireland has significant experience helping businesses in every sector easily and cost-effectively manage their iXBRL transition, We spoke to Jon D'Arcy of KPMG in Ireland, and asked him about the iXBRL experience in the U.K., and why getting iXBRL right first time is so important for Irish businesses. "The Revenue in the U.K. introduced XBRL two years ago, and the Revenue in the U.K. just made an announcement to say anybody who submits accounts in the U.K. with incorrect tags, or not a great effort at tagging, that they're more susceptible to get their accounts audited by the Revenue, so it's definitely a point for people to think about, that OK, this may be a burden, but it's an important burden to make sure you get right." It all sounds quite complex, and doing it yourself potentially costly and time-consuming, so what choices are open to Irish-based businesses, and how can KPMG help? "There's two main approaches really; you can adopt what's called an...
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...TRANSACTION SERVICES Doing Deals in Tough Times Best Practices of Leading M&A Teams ADVISORY Doing Deals in Tough Times 1 Tough Times Ahead Although 2007 was a record-setting year for global mergers and acquisitions (M&A), the current credit market suggests that conditions will become significantly more challenging for acquirers in the immediate future. Banks and other financial institutions have been particularly hard hit –analysts estimate that sub prime losses could reach $400 billion, and with their balance sheets in disarray, banks have not been eager to fund new transactions. Investor’s Business Daily estimates that sponsor deal volume will fall 30 percent in 2008 and strategic deals will fall 10 percent. Because of these conditions, lenders are now imposing tougher hurdles on dealmakers and forcing them to better articulate and justify their future expected cash flows. Of course, even in tough times companies will continue to make acquisitions. However, today’s difficult financial environment will put added pressure on companies to succeed. Companies that are fortunate enough to finance their deals will understand that they have a smaller margin of error. Managers who are relying on new synergies will find themselves racing against the clock to prove that their value proposition is real and to satisfy the terms being enforced by lenders. In addition, the softer economic times will further challenge acquirers to capture new revenue synergies...
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...FINANCIAL SERVICES Optimizing banking operating models From strategy to implementation September 2012 kpmg.com KPMG INTERNATIONAL Contents Executive summary The challenges facing the banking sector Regulations and regulators Economic environment Changing customers The march of technology 3 3 3 1 2 2 How will these changes affect the universal banking operating model? The end of universal banking Disintegration of the value chain Cost efficiency is key in developing new operating models New IT architectures are essential 6 6 5 4 4 What banks need to do Seizing this once-in-a-life-time transformation opportunity Developing an innovative operating model to overcome loss of scale and cost issues Implementing long-term sustainable cost reduction measures Implementing an iterative and collaborative approach to a complex, multi-faceted problem 10 11 9 8 8 Making it to the finish line 13 © 2012 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. All rights reserved. Optimizing banking operating models | 1 Executive summary A s the world emerges from what has been described as the greatest crisis in the history of finance capitalism, banks must adapt to radical new regulations, technologies, customer expectations and economic environments. The current universal bank operating model...
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...students to the KPMG Professional Judgment Framework; 3. Provide students with an opportunity to apply the framework; and 4. Provide students with the opportunity to begin developing an appropriate mindset for making good judgments. Module Learning Objectives Critical analysis of case issues and application of KPMG Professional Judgment Framework allow students to increase their: 1. Problem solving and decision making skills in an ambiguous learning environment; 2. Strategic / critical thinking as they consider the relevant issues of the case and make subjective decisions; 3. Ability to identify relevant risks associated with improper judgments; and 4. Understanding of ASC 740 and accounting for income taxes and how judgment impacts financial reporting. Module Components • Class Structure: 3 hour unit of study • PowerPoint Lecture • Case Assignment • Workpaper • Five Videos • Summary: Elevating Professional Judgment in Auditing and Accounting: The KPMG Professional Judgment Framework (available at: http://www.kpmguniversityconnection.com/ProfessionalJudgment/CurriculumSupport/Monographs/Professional-Judgment-Summary.aspx Acknowledgements: The author gratefully acknowledges the advice offered by Daryl Taylor, KPMG Houston, and Kathryn Radfar, in developing this case and suggested solutions. KPMG University Connection www.KPMGUniversityConnection.com © 2013 KPMG LLP a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent...
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...Emerging Trends in Healthcare A Journey from Bench to Bedside 17 February 2011 © 2011 KPMG, an Indian Partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Acknowledgement India’s competitive advantage lies in the lower production and research cost, its large pool of low cost technical and scientifically trained personnel, and large number of compliance certified manufacturers and service providers, which make us different from others. ASSOCHAM feels that technology incubation is no longer confined to a few institutions; it is a responsibility that we have to share, if we wish to see a better and a healthy future ahead. There is an immense need to develop skilled manpower in the area of healthcare and modern as well as traditional medicines. I am glad that this Summit on Emerging trends in Healthcare will bring forth the journey from research desk to the bedside of patient, as we will look at healthcare at the frontline to identify some common challenges that may help explain the complex nature of healthcare and the scale of the “change” challenge. I wish to thank KPMG for unanimously contributing towards this Knowledge Paper, which gives a rich and comprehensive insight of the trend in healthcare. I would also take the opportunity to thank QCI for supporting this event. The case studies contributed providing the best of...
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...approach to implementing Oracle's Enterprise Resource Planning (ERP) software product. This case chronologically reviews the diverse, critical success factors and obstacles facing Cisco during its implementation. Cisco faced the need for information systems replacement based on its significant growth potential and its reliance on failing legacy systems. The discussion focuses on where management was particularly savvy in contrast to where it was the beneficiary of good fortune. Cisco was highly successful with its enterprise resource planning (ERP) effort. What accounts for this success? What were the most important things that Cisco did correctly? Cisco’s success is greatly attributed by its 100% dedication of their teams to complete this project. It started with the senior management team approval and support. This includes its core ERP team of 20 which expanded to 100 after the board approval. Also included is the Executive Steering committee which also worked countless hours to meet this deadline. Even the hardware vendor who was an executive sponsor probably had 30 people on site at one point. This big financially but it was a great reference for them. The core ERP team represented a cross section of Cisco’s business community who were experts in its field . They were very structured and organized dividing the large 100 team into 5 process area teams or ‘tracks’. Each track had a Cisco IS and business leader, IT consultant from KPMG or Oracle and additional business personnel...
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...Enterprise-wide knowledge management systems are firm-wide efforts to collect, store, distribute, and apply digital content and knowledge. A vast array of technologies for storing structured and unstructured content, locating employee expertise, searching for information, disseminating knowledge, and using data from key corporate systems are used. Companies have to work with many different kinds of knowledge and knowledge issues. The three major categories of enterprise-wide knowledge management systems for dealing with these different kinds of knowledge are: #1. Structured knowledge systems #2. Semi-structured knowledge systems #3. Knowledge network systems Some knowledge exists already somewhere in the firm in the form of structured text documents and reports or presentations, and the central problem is organizing this existing structured knowledge into a library and making it accessible throughout the firm. Managers may also need information that may exist somewhere inside the firm in the form of less-structured documents, such as e-mail, voice mail, chat room exchanges, videos, digital pictures, brochures, or bulletin boards. This is considered semi-structured knowledge or digital asset systems. Systems for structured and semi-structured knowledge are known as knowledge repositories. A knowledge repository is a collection of internal and external knowledge in a single location for more efficient management and utilization by the organization. Selecting and implementing...
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