KPMG Joins Wall Street Blockchain Alliance
KPMG joined the wall street blockchain alliance in November 2017.
The wall street blockchain alliance is a nonprofit organization. The mission is to guide and promote comprehensive adoption of distributed ledger technology across financial markets. We do this by engaging with market participants, regulators, policymakers and technology innovators through direct communication, comment letters, studies and more to guide the public dialogue about blockchain, distributed ledger and smart contract technology, so that the financial markets can realize the full potential of these capabilities.
They will also receive a seat on the board of directors.
The wall street blockchain alliance had the following to stay about the partnership
“As one of the world’s leading professional services companies, KPMG sits at the cutting edge of Blockchain innovation across multiple segments of the global economy. We look forward to collaborating with them, as our global members and indeed the world, begin to implement Blockchain innovations across financial markets and beyond.”
Update on the KPMG #Guptaleaks South Africa Scandal
As you might remember the Gupta family got people government positions in return for favorable financial benefits. The Gupta family had powere because they were close to the south African president.
It appears that KPMG ignored significant red flags in this money laundering scandal. There were international advance payments being made to a company that KPMG audited. The advance payments were for some shares. The company that made the advance payments never received the shares.
These advance payments were made from offshore gupta family shell companies which shows signs of money laundering and corruption.
Additionally KPMG help the Gupta family set up offshore tax havens to avoid south African taxes. As more information comes out about this case, it gets worse for KPMG’s reputation.There is also word that KPMG’s outing as a bad professional service firm is GUptafying the industry. Similar to what is happening in Hollywood with sexual harassment is happening to professional service firms in South Africa. There are more investigations into the work that they are doing and more is coming up that they did not perform their jobs. Will the guptafication of professional service firms make its way to the big 4 in the united states. You’ll just have to subscribe to our newsletter to find out.
KPMG Strengthens Tax Partnership With Thomson Reuters
KPMG also partnered with Thomson Reuters for tax services to their clients
KPMG will partner with Thomson Reuters to offer more direct tax tools that leverage Thomson Reuters Onesource tax applications.
They will offer these solutions through their Ignition centers which is their center for technological solutions for their clients.
KPMG was already offering Thomson Reuters products. This is just a stronger alliance between two partners that already had a strong working relationship. It’s a way to get Thomson permission to collaborate with KPMG’s ignition center.
KPMG’s John Veihmyer Named To Ford Motor Company’s Board
KPMG’s former CEO was appointed to the board at Ford Motor Company. This is a huge appointment for John Veihmeyer. They obviously appointed him because of his experience with financial reporting and large public companies. Its very prestigious for KPMG to get one of their former partners appoint to a large fortune 500 company.
KPMG Names New Partner In Charge of Campus Recruiting
KPMG named a new partner in Charge of campus recruiting in the United States. His name is James Powell. If you want to get some brownie points in the campus recruiting process, add him on LinkedIn and congratulate him.
KPMG Enters The Marketing Business In Australia
KPMG will be launching a marketing company in Australia and they hired a new partner to head it and launch it. This partner Carmen Bekker brings 20 years of experience to the table. She will launch a CMO advisory business for KPMG. They will advise clients and chief marketing officers on how best to run their marketing campaigns and engage with customers.