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WHO WE ARE

GRI 4.8

KPMG International is a global network of independent firms operating in 152 countries.

We have more than 145,000 outstanding professionals with multidisciplinary skills offering services in the audit, tax and advisory segments to private companies and government agencies, helping them detect risk and capitalize on opportunities.

• We are experts .We apply our extensive knowledge and experience, discriminating what is important in resolving the most complex questions.


• We maintain a global mindset. We connect globally and see the big picture, offering a unique perspective.


• We are forward-thinking. We support the success of our clients, anticipating the unexpected. We are pro-active, clarifying implications and opportunities.


• We add value. We listen and ask our clients the right questions. Our activities optimize valuable time and create competitive advantages.


• We are passionate. Commitment towards excellence from conception to delivery. Our goal is to simplify and identify clear and correct answers, communicating them in a positive way.

 

Vision

GRI 4.8

We will build and sustain our reputation as the best company to work with, creating opportunities so that our people, our clients, and our communities achieve their full potential.

Mission

GRI 4.8

High-performance individuals with multidisciplinary backgrounds, who help to cut through complexity, offering clear solutions to the benefit of our clients.

Values

GRI 4.8

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We lead by example at all levels, acting in a way that exemplifies what we expect from each other and our clients.		We work together with the best of what we have to offer and the best in others, creating strong and successful working relations.		We respect individuals for who they are and for their knowledge, skills and experience as individuals and team members.		We seek the facts and provide insights. By challenging assumptions and pursuing facts we strengthen our reputation as trusted and objective business advisers.
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We are open and honest in our communication and therefore we share information, insights and recommendations constructively and frequently, managing difficult situations with courage and confidence.		We are committed to our communities, acting as responsible corporate citizens and amplifying our skills, experiences and perspectives, through our work in our communities.		Above all, we act with integrity, we strive to maintain the highest professional standards, offering solid recommendations and always preserving our independence.

 

ORGANIZATIONAL PROFILE

KPMG International

GRI 2.1 I 2.3 I 2.8

Founded in Switzerland in accordance with Swiss law, and headquartered in Amsterdam, KPMG International Cooperative (KPMG International) is an entity that coordinates and works for the general benefit of member firms, ensuring that policies and standards are consistent in order to protect and strengthen the KPMG brand. Its activities are financed by the member firms, as it does not provide client services.

The member firms of the KPMG International network are independent legal entities and are responsible for their own management and service quality. They are entitled to use the name, brand and methods of KPMG when providing services to their clients, providing they commit to the values of KPMG International. They are contractually required to comply with its policies and regulations, including the standards of quality that govern the way it operates and provides services to clients, in order to compete efficiently on the market.

This structure based on member firms helps provide a consistent global strategy for KPMG International and adherence to our values; and through the exchange of experience and knowledge, provides the same quality and technical accuracy in the services provided to all clients.

This has placed the member firms of KPMG International in a position of leadership, and earned them global recognition for their quality and integrity.

Global presence

GRI 2.2 I 2.5

We managed to grow despite the fact the 2012 financial year has been extremely challenging and complex for the economy and business in our core markets. The combined revenues of the network of KPMG International member firms amounted to a record USD 23.03 billion, 4% more than the previous year, and was primarily driven by emerging markets. The Advisory practice grew by 8.3%, the Tax practice by 6.3%, and audit by 0.9%.

We experienced substantial growth in key sectors like financial services, government, infrastructure, energy, natural resources and healthcare, which has placed us in a position of strength to achieve even greater growth in 2013.

Countries/territories in wich KPMG member firms operate

KPMG in Brazil

GRI 2.1 I 2.3 I 2.4 I 2.5 I 2.6 I 2.7 I 2.8 I 2.9

In Brazil KPMG consists of a network of independent firms under local ownership and management, with head offices defined in their respective articles of incorporation. The organization’s main establishments are located in São Paulo.

Our 26 offices are strategically located in 20 cities in 11 Brazilian states and the Federal District.

At the close of our financial year on September 30, 2012, our 3,885 people were serving 3.692 clients across Brazil. These clients include Private companies, government agencies and non-profit organizations and have a solid structure and a multi-disciplinary high performance team, that helps to simplify the complexity of the daily business of our clients and offer clear and innovative solutions in the Audit, Tax and Advisory fields.

Our 3.634 professionals are aligned with KPMG’s national and global values, regulations and quality standards by way of multiple initiatives, including the Code of Conduct, policies, internal methods and training, in addition to an international network through which they share methods enhanced here and at other member firms, which can be tailored to the requirements, opportunities and challenges of our clients.

KPMG in Brazil therefore actively contributes as a creator and disseminator of good practices. Spearheaded by our Chairman in Brazil, Pedro Melo, we occupy a position in the Global Board, one of the four main governance bodies of KPMG International, where we also help define strategies and generate global expertise.

Local presence

KPMG in Brazil grossed R$ 805 million, a substantial increase of 13.7% over the previous year given the tough economic conditions. Our Audit practice expanded by 24%, our Tax practice by 13% and our Advisory practice by 21%.

*this information refers to the period January to December 2012.

Our practices

GRI 2.2

Audit

GRI SO5

Compulsory rotation of auditors

Panorama: for the Securities Commission (CVM), one of the advantages of this compulsory rotation of auditors is to avoid compromising services quality or independence during the audit of financial statements of companies. This rule has been extensively discussed in Brazil and abroad, and has been criticized by entities that represent listed corporations.

Perspective of KPMG in Brasil: we support the extension to the rotation period included in the new rule, but we believe it would be more appropriate to rotate the professionals responsible for undertaking the work, which is already done and regulated, and not the audit companies themselves. This would strengthen the credibility of the service and any audit bias would be minimized by the rotation of the professionals responsible. The longer the relationship with the client, the greater the understanding of its business, its control systems and culture, which is then translated into an efficient audit.

Another two points that should be taken into consideration are: i) the rotation impinges the client’s liberty to choose their service provider, and ii) service providers investing in development of specialist professionals dedicated to providing excellent services to a given client lose the incentive to do so, as the work will not be ongoing.

Under the rotation, audit firms in general face challenges and financial opportunities. In the latest rotation KPMG had become a leader in the provision of audit services to listed companies. Consequently, in the 2012 rotation we were unable to keep serving these clients, which led to a severe impact on our revenue. However, there is also a phenomenon known as “reverse rotation”: we can offer other services from our portfolio to the audit clients we lost as a result of the rotation.

Evolução

Tax

The Brazilian tax system has unique characteristics that increase the challenges and opportunities to work in this sector. Our service portfolio, consolidated from experience working internationally, assists our clients to anticipate and respond to tax changes and governance requirements.

The provision of services in this segment include advisory for developing tax policies and processes aimed at making feasible compliance with tax obligations, assisting in structuring operations, managing tax risks and reducing operational costs.

We offer solutions for corporate taxes, indirect taxes, tax planning, transfer pricing, advice for international executives, international taxation, advisory for acquisitions and mergers, financial services and outsourcing.

Growth in Tax services in 2012: 11% over 2011. Projected growth for 2013: 21%.

Advisory

The Advisory practices support the strategic decisions and development of projects adopting a multidisciplinary approach, which includes skills in strategic planning, mergers and acquisitions, corporate governance, risks and compliance, improvement of financial and operational performance, outsourcing of services, innovation and strategic use of technology.

The services are distributed between the Risk Consulting, Management Consulting, Transactions & Restructuring and Business Process Outsourcing Areas.

Growth in services in the segment in 2012: 15% over 2011. Projected growth for 2013: 29%.

Risk Consulting

Assists clients to deal with the risks inherent to their business, and includes its governance structure, management and its operational processes. This coverage enables risks to be avoided, not only at strategic and management levels, but also at regulatory and activity levels.

We assess the risks related to accounting aspects, information technology (IT Advisory Services), the operational processes (internal audit and compliance), financial (Basel and Solvency), corporate governance (going public, family companies, corporate aspects), frauds (Forensic) and sustainability (environmental, social and regulatory).

Expect The Unexpected

GRI EC2

"We know that governments alone cannot address these challenges. Business must take a leadership role in the development of solutions that will help to create a more sustainable future. By leveraging its ability to enhance processes, create efficiencies, manage risk, and drive innovation, business will contribute to society and long-term economic growth."

Michael Andrew,
chairman da KPMG International

Management Consulting

Aimed at improving performance, the strategic use of technology and innovative processes, supporting clients in the strategic execution of their objectives and identifying and implementing improvements and innovations with an integrated vision of processes, information technology and personnel.

The services offered by the Management Consulting area include: Financial Management; Business Process Redesign and Improvement; Business Effectiveness; Project Management; Business Process Sourcing & Shared Services; Change Management; Talent Development & Management; IT Governance and Information Security.

Transactions & Restructuring (T&R)

Assist clients to obtain results from different types of financial transactions, and its performance is based on the combination of business, technical and sector knowledge.

The T&R services include: Corporate Finance (including appraisals, acquisitions and merger advisory, financial advisory for infrastructure projects/PPPs and Debt Advisory); Transaction Services (including Financial Due Diligence, Vendor Due Diligence and Strategic and Commercial Intelligence) and Restructuring Services/Non Performing Loans Advisory.

Business Process Outsourcing (BPO):

Is an important service that implements and operationalizes the strategic vision and system for middle activity processes (back and front office), in order to provide the necessary support for decisions and end activities for clients, from management level to directors, through continual and agile optimization, transforming data into accurate and up to date management information.

Through this service, KPMG operates in the front and the back office and provides an integrated system to enable the client to focus on its core business and, at the same time, have access to a general vision and accompany each step in the processes performed, making its decisions more assertive.

KPMG in the life cycle of clients

GRI EC9

Our services have a strategic role and can generate value and positive direct and indirect impacts for our clients, by offering solutions to the challenges and opportunities in different stages of their life cycle, and help them define a long-term competitive business strategy.

Through our activities we generate significant indirect economic impacts. Besides helping our clients during their journey of growth, creating income and employment in the communities they operate in, we actively participate in debates on the regulatory environment for our activities. Our services also provide confidence to the capital markets and its agents, such as analysts, investors and regulatory bodies.

With our intensive investment in training and professional development, we contribute through the placing of specialized individuals on the market, which generates value for our company, clients and society. Some of these professionals do not continue their career with KPMG, and take the expertise acquired in our organization when then join other important national and international companies.

The value proposition KPMG in the life cycle of clients

Financial Statements Audit has an important role in capital markets, providing transparency and reliability of financial information essential at all times in the company (e.g.: obtaining financing, acquisitions, IPO, capital increase, providing accountability to shareholders, among others). Note: To maintain independence, some services may not be offered simultaneously by KPMG.