Kpmg Internship Report

KPMG Taseer Hadi and Co.

History

History of KPMG can be traced back to 1870 when a British, William Barclay Peat, established an accounting firm in London. Later in 1911 William Barclay Peat & Co. and Marwick Mitchell & Co. joined hands to form Peat Marwick Mitchell and Co. which was later known as Peat Marwick.

Klynveld Kraayenhof & Co., Thomson McLintock and Deutsche Treuhandgesellschaft merged in 1979 to make KMG with an aim to make an international firm which later on merged with Peat Marwick to form KPMG in 1987. KPMG has a very affluent history which is why KPMG has a sound reputation all over the world and stand in the big four accounting firms on the globe beside Earnst & Young, Delloite and PricewaterhouseCoopers. KPMG operates all over the world with its independent member firms in respective countries. These member firms either incorporate KPMG in their names or use KPMG only. Operating in 146 countries, KPMG employs 137,000 people as stated on KPMG transparency report 2009.

KPMG in Pakistan

The independent member firm of KPMG international (incorporated in Switzerland) in Pakistan is called KPMG Taseer Hadi & Co. Chartered Accountants. Founded in 1969, it provides services all over Pakistan and has its offices in Lahore, Karachi and Islamabad.

Services provided

In Pakistan, KPMG provides Audit, Tax and Advisory services. KPMG uses standardized methods as well as provides tailored services to individual clients keeping it acceptable and understandable across industries and across the globe.

AUDIT

KPMG performs Audit of the financial statements prepared by the clients and lend substantial credibility to those financial statements such that investors, creditors and other stakeholders can make informed decisions considering the statements a reliable source.

KPMG also provides Auditing services in other Audit related areas such as attestation of prospective reports, reports on agreed upon...