Accounting research 1

Accounting research 1 - Accounting research KPMG KPMG one...

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Accounting research: KPMG KPMG , one of Britain's "Big Six" accountancy firms, has launched a £1m ($1.58m) advertising campaign trumpeting a new "open" policy - the flagship of which is its published full accounts. It challenged its competitors to follow suit. The Big Six firms have spent so much time trying to differentiate themselves from the middle- tier firms that they have forgotten how to stand out against their peers. It would have been to the credit of the Big Six if the change now ruffling them had been self- generated. But it was brought about by the need to tackle the high level of legal risks faced by the firms and their partners. To partly limit that liability, KPMG chose to incorporate its audit arm. This first small crack in an otherwise featureless image is now widening. About 25 per cent of KPMG's fee income was earned through audits which are now run through KPMG Audit PLC . The firm would have been required, therefore, to publish full accounts for a quarter of its business.
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