History of KPMG in Timeline
KPMG is a global professional services network and one of the Big Four accounting firms. Headquartered in London, it operates in 145 countries and employs over 275,000 people. KPMG is a network of member firms affiliated with KPMG International Limited, a private English company. Its primary services include financial audit, tax, and advisory.
1913: Frank Wilber Main Founded Main & Co.
Around 1913, Frank Wilber Main founded Main & Co. in Pittsburgh.
March 1917: Founding of Klynveld Kraayenhof & Co.
In March 1917, Piet Klijnveld and Jaap Kraayenhof established an accounting firm called Klynveld Kraayenhof & Co. in Amsterdam.
1923: Renaming of The American Audit Company
In 1923, The American Audit Company underwent a name change, becoming FW LaFrentz & Co.
1925: Merger to form Peat Marwick Mitchell & Co.
In 1925, William Barclay Peat & Co. and Marwick Mitchell & Co. merged, creating Peat Marwick Mitchell & Co.
1939: Meijburg & Co. was founded
In 1939, the tax advisory agency Meijburg & Co. was founded by Willem Meijburg.
1963: Formation of Main LaFrentz & Co
In 1963, Main LaFrentz & Co was formed through the merger of Main & Co and FW LaFrentz & Co.
1969: Thomson McLintock and Main LaFrentz Merger
In 1969, Thomson McLintock and Main LaFrentz merged to establish McLintock Main LaFrentz International, which subsequently absorbed the general practice of Grace, Ryland & Co.
1979: KPMG became part of the international organization
In 1979, KPMG became part of the international organization.
1979: Formation of KMG
In 1979, Klynveld Kraayenhof & Co. (Netherlands), McLintock Main LaFrentz (United Kingdom / United States), and Deutsche Treuhand-Gesellschaft (Germany) formed KMG (Klynveld Main Goerdeler).
1987: KMG and Peat Marwick Merger
In 1987, KMG (Klynveld Main Goerdeler) merged with Peat Marwick, leading to the selection of the initialism "KPMG" for the newly formed entity.
1988: PMI tax advisors joined Meijburg & Co.
In the Netherlands, due to the merger between PMI and KMG in 1988, PMI tax advisors joined Meijburg & Co.
1991: Firm Renamed KPMG Peat Marwick
In 1991, the firm's name was changed to KPMG Peat Marwick.
1992: Purchase of BSR & Co.
Following the 1992 liberalisation of the Indian economy, KPMG purchased the auditing firm BSR & Co to carry out audits in India.
1996: Fraudulent Tax Shelters
Between 1996 and 2002, KPMG LLP admitted criminal wrongdoing in creating fraudulent tax shelters to help wealthy clients avoid $2.5 billion in taxes.
October 1997: KPMG and Ernst & Young Merger Announcement
In October 1997, KPMG and Ernst & Young announced their intention to merge, but the tie-up was later abandoned.
2001: KPMG sent takedown notice for corporate theme song link
In 2001, KPMG sent a takedown notice to Chris Raettig, a blogger who had linked to KPMG's "corporate theme song", citing their Web Link Policy.
2001: Spin-off of KPMG Consulting
In 2001, KPMG spun off its United States consulting firm through an initial public offering of KPMG Consulting, later rebranded as BearingPoint.
2002: Fraudulent Tax Shelters
Between 1996 and 2002, KPMG LLP admitted criminal wrongdoing in creating fraudulent tax shelters to help wealthy clients avoid $2.5 billion in taxes.
2002: Sale of UK and Dutch consulting arms
In 2002, the UK and Dutch consulting arms of KPMG were sold to Atos.
2003: Change to Swiss Cooperative
In 2003, KPMG International changed its legal structure from a Swiss Verein to a co-operative under Swiss law.
2003: Divestment of Klegal and Dispute Advisory Services
In 2003, KPMG divested itself of its legal arm, Klegal, and sold its Dispute Advisory Services to FTI Consulting.
2003: IRS Issues Summonses
In 2003, the IRS issued summonses to KPMG for information regarding certain tax shelters and their investors.
2003: KPMG Issued CMED Audits
KPMG issued written audit reports for China Medical Technologies (CMED) from 2003 to 2008.
February 2004: Criminal Inquiry Commenced
In February 2004, the US Justice Department initiated a criminal inquiry against KPMG LLP.
January 2007: Criminal Charges Dropped
On January 3, 2007, the criminal conspiracy charges against KPMG were dropped.
October 2007: Formation of KPMG Europe LLP
In October 2007, KPMG's member firms in the United Kingdom, Germany, Switzerland and Liechtenstein merged to form KPMG Europe LLP, followed by other countries.
February 2008: Phil Mickelson signed a sponsorship deal with KPMG
In February 2008, Phil Mickelson signed a three-year global sponsorship deal with KPMG. As part of the agreement, Mickelson was to wear the KPMG logo on his headwear during all golf related appearances.
February 2008: HBOS Accounts Published
In February 2008, the HBOS accounts were published; six months later, HBOS required rescue by Lloyds Bank.
March 2008: Bribery Accusations
In March 2008, KMPG employees in the UK and South Africa were accused of bribing and recruiting employees to collect trade secrets.
November 2008: Siemens Recommended Auditor Change
In November 2008, the Siemens Supervisory Board recommended changing auditors from KPMG to Ernst & Young.
2008: KPMG Issued CMED Audits
KPMG issued written audit reports for China Medical Technologies (CMED) from 2003 to 2008.
August 2009: PwC Zhong Tian Replaced KPMG For CMED Audits
In August 2009, PwC Zhong Tian replaced KPMG as auditors for China Medical Technologies (CMED).
2009: China Forestry Legal Claims
During July, KPMG paid HK$650 million (US$84 million) to settle legal claims after failing to identify fraud at a Chinese timber company, China Forestry, ahead of its listing in 2009.
2009: KPMG ranked in the top two in Consultancy Rankings 2009
In 2009, KPMG ranked in the top two overall in Consultancy Rankings 2009 by OpRisk & Compliance—in recognition of KPMG's experience in risk management.
2009: Ranked No. 4 on "50 Best Places to Launch a Career"
In 2009, KPMG was ranked No. 4 on the list of "50 Best Places to Launch a Career" according to Bloomberg Businessweek.
2009: BearingPoint Bankruptcy Filing
In early 2009, BearingPoint filed for Chapter 11 bankruptcy protection.
December 2010: FRC Investigation into Rolls-Royce Audit
In December 2010, the FRC began investigating KPMG UK's audit of Rolls-Royce plc's financial statements, potentially leading to a fine for questionable audit practices.
December 2010: FRC Investigation into KPMG's Audit of Rolls-Royce
In December 2010, the UK accounting regulator, Financial Regulation Council (FRC), opened an investigation into KPMG's audit of the financial statements of British aerospace company, Rolls-Royce plc.
2010: KPMG Sponsored Skier Alexandre Bilodeau
In 2010, the Canadian member firm of KPMG sponsored skier Alexandre Bilodeau, who won the first gold medal for Canada on home soil in the Vancouver Olympics.
2011: KPMG Ranked Second on World's Best Outsourcing Advisors
In 2011, KPMG was ranked second on the World's Best Outsourcing Advisors. That same year, the company was inducted into Working Mother Hall of Fame after being honored for 15 years as one of Working Mother magazine's 100 Best Companies for Working Mothers.
November 2012: HP Write Off Due to Accounting Improprieties
In November 2012, HP announced an $8.8 billion write off due to "serious accounting improprieties" committed by Autonomy management prior to its acquisition by Hewlett-Packard.
2012: Brokering Tax Deal for Microsoft
In 2012, KPMG brokered a tax deal for Microsoft with the Puerto Rican government, leading to a scheme that channeled billions in profits to Puerto Rico.
2013: Settlement of Quindell Lawsuit
In 2013, KPMG UK agreed to a £5 million settlement in a lawsuit by Quindell (now Watchstone) concerning deficient audit work related to its financial statements.
2013: Lawsuit Over Negligence Allegations
In 2013, KPMG UK faced a £15m lawsuit from insurance outsourcer Watchstone, formerly Quindell, alleging losses due to the audit firm's negligence.
2013: Predicted Headcount Overtake in China
KPMG's global deputy chairman predicted in 2012 that headcount in China would overtake that of the UK by the end of 2013.
2014: Sanction by Chile's CMF
During August, Chile's Comision Para El Mercado Financiero(CMF) sanctioned KPMG Auditores Consultores Limitada and its partner for offences incurred in the audit made to the financial statements of the Aurus Insignia Fondo de Inversión for the year 2014.
2014: KPMG and McLaren Technology Group Formed a Strategic Alliance
In 2014, KPMG and McLaren Technology Group formed a ten-year strategic alliance to apply McLaren Applied Technologies' predictive analytics and technology to KPMG's audit and advisory services. KPMG's logo was also placed at the engine air intake of the McLaren F1 Team's cars.
2014: Carillion Audit Period Begins
In 2014, KPMG began its audit of the failed construction firm, Carillion, which continued until 2018 and later led to a lawsuit.
2014: Luxembourg Leaks
In 2014, tax arrangements negotiated by KPMG relating to tax avoidance and multinational corporations in Luxembourg became public in the Luxembourg Leaks.
2014: Negligence Claim Focuses on Audits in 2014
In 2014, the OR's negligence claim focused on the value of major contracts which were not properly accounted for in audits, resulting in misstatements in excess of £800m within Carillion's financial reports.
2014: Lawsuits Bankrolled Against Previous Auditor
In November, a British litigation financing firm—Augusta Ventures announced that it will bankroll three $152.4-million lawsuits in Canada against the previous auditor (KPMG LLP) of the Money Retailer Monetary Providers Inc., a Canadian payday lender that filed for creditor safety in 2014.
2015: KPMG issued a controversial report about Pravin Gordhan
In 2015, KPMG issued a controversial report that implicated former Finance Minister Pravin Gordhan in the creation of an illegal intelligence gathering unit of the South African Revenue Service (SARS).
2015: Negligence Claim Focuses on Audits in 2015
In 2015, the OR's negligence claim focused on the value of major contracts which were not properly accounted for in audits, resulting in misstatements in excess of £800m within Carillion's financial reports.
February 2016: Contempt Proceedings Against KPMG Hong Kong Partners
In February 2016, 91 partners of KPMG Hong Kong faced contempt proceedings in Hong Kong High Court due to refusal to produce Chinese working papers related to a $400 million fraud investigation.
2016: KPMG Resigned from Gupta Family Company
In 2016, KPMG resigned from Oakbay Resources and Energy, a Gupta family company in the mining sector, after revelations of corruption and collusion. The full impact and financial profit that KPMG received is yet to be determined; however, at least one large company has terminated its services with KPMG due to its relationship with Oakbay.
2016: KPMG Ranked Number 13 in Consulting Magazine's Best Firms to Work for
In 2016, KPMG was ranked number 13 in Consulting Magazine's Best Firms to Work for.
2016: Concerns Over Carillion Audit
In 2016, investigations and tribunals later focused on concerns and false information that occurred during the Carillion audit.
2016: Fine for Audit Failures at Luceco
In 2016, the Financial Reporting Council fined KPMG's UK affiliate £875,000 for failing to meet audit requirements regarding the financial statements of its client, lighting company Luceco.
2016: Negligence Claim Focuses on Audits in 2016
In 2016, the OR's negligence claim focused on the value of major contracts which were not properly accounted for in audits, resulting in misstatements in excess of £800m within Carillion's financial reports.
2016: KPMG became a strategic sponsor of Brain Bar
Since 2016, KPMG has been a strategic sponsor of Brain Bar, a Budapest-based, annually held festival on the future.
July 2017: Profit Warning Before Carillion Collapse
In July 2017, Carillion issued a profit warning before its collapse.
July 2017: Moses Kgosana withdrew from chairman position
In July 2017, after controversial documents were leaked, Moses Kgosana, former chief executive of KPMG South Africa and the former partner that was responsible for audits related to the Gupta family, withdrew from becoming the chairman of Alexander Forbes, a financial services firm.
September 2017: KPMG withdrew controversial report
In September 2017, KPMG withdrew a controversial report that implicated former Finance Minister Pravin Gordhan in the creation of an illegal intelligence gathering unit of the South African Revenue Service (SARS). This action earned the ire of the Commissioner of SARS, Tom Moyane.
September 2017: KPMG's senior leadership in South Africa resigned
In September 2017, KPMG's senior leadership in South Africa, including its chairman Ahmed Jaffer, CEO Trevor Hoole, COO Steven Louw, and five partners, resigned after an internal investigation found work done for the Gupta family fell "considerably short" of the firm's standards and amid rising political and public backlash.
2017: KPMG Terminated Partnership with McLaren
In 2017, KPMG terminated its partnership with McLaren Technology Group.
2017: KPMG embroiled in Gupta family scandals
In 2017, KPMG was embroiled in related scandals involving the Gupta family, facing calls for closure and an uncertain future due to the damage done to the South African economy as a result of its activities.
2017: KPMG ranked on Fortune list of 100 best companies to work for
In 2017, KPMG was ranked 29th on the Fortune list of 100 best companies to work for. Also in 2017, KPMG was among the UK's 25 top companies to work for.
2017: KPMG deficiencies cited by its regulator
In 2017, it was reported that KPMG had the highest number of deficiencies among the Big Four, cited by its regulator in the previous two years.
2017: FRC Investigation into Rolls-Royce Audit Begun
In 2017, the Financial Reporting Council (FRC) initiated an investigation into KPMG UK's audit of Rolls-Royce plc's financial statements for the year ended December 2010.
2017: Fine for Eddie Stobart Group Audit
In 2017, the UK accounting regulator, the Financial Reporting Council, imposed a £877,000 fine on KPMG's UK affiliate for not satisfying requirements regarding its 2017 audit of Eddie Stobart Group.
2017: Top staff resigned and workforce shrank
In December, KPMG South Africa published an open apology for its participation in various scandals in South Africa; its top eight staff resigned during 2017 and its workforce shrank from 3,400 to 2,200.
January 2018: Examination of Carillion Audit
In January 2018, the Financial Reporting Council announced it would examine KPMG's role as auditor of collapsed UK construction firm Carillion.
February 2018: Summoned to Give Evidence
In February 2018, KPMG was summoned to give evidence before two House of Commons select committees regarding its role as auditor of collapsed UK construction firm Carillion.
February 2018: Criticism for Carillion Work
On 13 February 2018, KPMG was criticized by MP Frank Field for "feasting on what was soon to become a carcass" after collecting fees of £72m for Carillion work and was singled out for particular criticism.
February 2018: MPs Contest KPMG Evidence
On 22 February 2018, KPMG appeared before members of parliament where the evidence provided by KPMG was heavily contested during an exchange.
April 2018: FRC Investigation into KPMG's Work for Conviviality
During April 2018, the UK accounting watchdog, the Financial Reporting Council (FRC) announced an investigation into KPMG’s work for Conviviality, the British drinks supplier that collapsed into administration.
May 2018: Parliamentary Inquiry Criticizes KPMG
In May 2018, the final report of the Parliamentary inquiry into Carillion's collapse criticized KPMG for its "complicity" in the company's financial reporting practices.
June 2018: FRC Report on Audit Standards
In June 2018, the FRC identified "failure to challenge management and show appropriate scepticism across their audits" in a report on audit standards, highlighting a decline in KPMG's work quality.
July 2018: Investigation into Conviviality Audit
In July 2018, the FRC started an investigation into KPMG's audit role at collapsed drinks merchant Conviviality.
October 2018: FRC Proposes Reforms
In October 2018, the FRC proposed reforms to address falling trust in business and audit effectiveness, severely rebuking KPMG.
November 2018: KPMG Limits Consultancy Work
In November 2018, KPMG announced it would no longer undertake consultancy work for FTSE 350 Index-listed companies if it was also auditing them.
2018: Carillion Audit Period Ends
In 2018, KPMG concluded its audit of the failed construction firm, Carillion, which began in 2014, and which would later lead to a lawsuit and settlement in 2022.
2018: Fine for M&C Saatchi Audit Failings
In 2018, KPMG's UK affiliate was fined £1.46 million by the UK accounting regulator for 'basic failings' in its audit of M&C Saatchi plc's financial statements.
2018: PCAOB Fines KPMG South Korea
In 2018, the PCAOB fined KPMG South Korea US$500,000 for failing to prevent auditors from doctoring work papers, also banning two partners for altering documents during an audit of a US-listed company's Korean business.
2018: Whistleblowing reports sent to KPMG International since 2018
Since 2018, copies of three whistleblowing reports were sent to KPMG International, alleging issues in the Saudi Arabia practice, including wrongful terminations, failure to pay staff and concerns about personal safety in the region.
January 2019: KPMG Suspends Carillion Audit Partner
In January 2019, KPMG announced it had suspended the partner that led Carillion's audit and three members of his team.
March 2019: Convictions in PCAOB Scandal
In March 2019, David Middendorf and Jeffrey Wada were convicted in the scandal involving advanced confidential knowledge of planned audit inspections by the Public Company Accounting Oversight Board (PCAOB).
June 2019: KPMG fined $50 million for altering audit work
In June 2019, KPMG was fined $50 million for altering its past audit work after receiving stolen data from the PCAOB. KPMG admitted to its mistakes and agreed to hire an independent consultant to review its internal controls as part of the settlement.
2019: US$50 Million Fine for Stolen Data
In 2019, KPMG faced a US$50 million fine due to employees using stolen data from the PCAOB to identify audits for review.
May 2020: Official Receiver Preparing to Sue KPMG
In May 2020, the Financial Times reported that the Official Receiver was preparing to sue KPMG for £250m over alleged negligence in its audits of Carillion.
September 2020: FRC delivered first Carillion audit breaches report to KPMG
In September 2020, the Financial Reporting Council (FRC) delivered its first report to KPMG, identifying a number of breaches in how KPMG audited Carillion's accounts. The FRC awaited a response from KPMG before deciding on enforcement action.
2020: Incorporation of KPMG International Limited
In 2020, KPMG International Limited was incorporated in London, England.
2020: Change to Limited Company
In 2020, KPMG International changed its legal structure to a limited company.
2020: Fine for Audit Failures
In 2020, the UK's Financial Reporting Council fined KPMG's UK affiliate £1 million for failing to meet audit requirements for its client, TheWorks.co.uk plc's 2020 financial statements.
2020: KPMG US Diversity Reports First Published
KPMG US began publishing its diversity reports in 2020, which were removed from its website in February 2025 as part of a broader effort to abandon the firm's DEI targets.
February 2021: Appointment of First Female Leaders
In February 2021, KPMG UK appointed Bina Mehta as acting UK chairman and Mary O'Connor as acting senior partner in UK.
February 2021: Lawsuit Against KPMG
In February 2021, the liquidators of VBS Mutual Bank filed a lawsuit against KPMG's South African affiliate for 863.5 million Rand.
March 2021: KPMG "inching towards" settlement with regulators over Carillion audit
In March 2021, it was reported that KPMG was nearing a financial settlement with regulators regarding its auditing of Carillion. The FRC was expected to impose a record fine on KPMG, potentially around £25 million, for its failings.
April 2021: O'Connor Quits Firm
In April 2021, Mary O'Connor quit KPMG UK after being passed over for the permanent role.
May 2021: Liquidator Secured Funding for Legal Action Against KPMG
In May 2021, the liquidator secured funding for its legal action against KPMG, with speculation that the likely damages claim could be as much as £2 billion.
August 2021: FRC Disciplinary Panel Scheduled
In August 2021, an FRC disciplinary panel was scheduled for 10 January 2022 to hear a formal complaint against KPMG and former KPMG partner Peter Meehan regarding the provision of allegedly false and misleading information concerning the 2016 Carillion audit.
November 2021: Partnership Process Revision
In November 2021, KPMG UK revised its partnership process to introduce five levels of partnership, requiring partners to inject capital at levels starting at £150,000.
2021: Lawsuit by PriceWaterhouseCoopers
In 2021, KPMG's Canadian affiliate was sued for Canadian $1.4 billion by PriceWaterhouseCoopers for allegedly failing to detect misstatements in Bridging Finance Inc.'s financial statements before its collapse.
2021: Capital Partners Not Paid Bonuses for 2021
In 2021, capital partners at KPMG's UAE branch were not paid bonuses due to "cash flow issues".
January 2022: FRC Tribunal Convenes
In January 2022, a tribunal convened to hear a formal complaint against KPMG and former KPMG partner Peter Meehan regarding the 2016 Carillion audit.
February 2022: Official Receiver's claim against KPMG reported to be between £1bn-£1.5bn
In February 2022, Sky News reported that the Official Receiver's claim against KPMG would be in the range of £1 billion to £1.5 billion, with one source suggesting around £1.2 billion.
February 2022: KPMG and Phil Mickelson Mutually Split
On 22 February 2022, KPMG and Phil Mickelson mutually split following comments in which Mickelson called Saudi Arabia "scary" but would overlook the country's human rights controversies in the best interest of the PGA Tour.
March 2022: Withdrawal from Russia and Belarus
During March 2022, in response to the Russian invasion of Ukraine, KPMG announced that their Russian and Belarusian firms would leave the KPMG network.
April 2022: Acquisition of Acceleris Stake
In April 2022, it was announced that KPMG will acquire 50% of the UK-based venture capital advisory specialist Acceleris, subject to approval.
July 2022: Controversies around KPMG Lower Gulf emerged
In July 2022, controversies around KPMG Lower Gulf emerged. Staff at the UAE division accused the multinational firm of neglecting multiple complaints filed against the Emirati CEO Nader Haffar, alleging that he fostered a "fear culture". On July 21, Haffar requested a new election process for his position.
July 2022: Fines and Bans for Executives
In July 2022, it was announced that Peter Meehan had been fined £250,000 and banned for ten years; three other former KPMG executives also received fines and lengthy bans.
August 2022: KPMG Announced Plans To Downsize Office Footprint In New York City.
In August 2022, KPMG announced plans to downsize its office footprint in New York City in 2025, when it moves its offices in the city from Midtown Manhattan to Two Manhattan West in Hudson Yards.
September 2022: Global bosses urged to suspend Nader Haffar
In September 2022, the global bosses were urged to suspend Nader Haffar from KPMG Lower Gulf, citing "nepotism, cronyism and a culture of fear" under his leadership. Concerns were also raised over falling profits.
October 2022: Reports of unethical employment practices at KPMG Saudi Arabia
In October 2022, the Financial Times published a report detailing unethical employment practices at KPMG Saudi Arabia, including wrongful terminations, racial tensions, and concerns about personal safety, leaving expatriate staff fearing for their safety and struggling with their mental health.
November 2022: OR: KPMG "failed to respond" to Carillion allegations
In November 2022, the Official Receiver (OR) stated that KPMG had "failed to respond" to Carillion allegations that it had failed to properly audit the accounting of 20 significant construction contracts.
2022: H2O Fined by French Regulator
In 2022, H2O was fined €75 million by the French regulator, Autorité des Marchés Financiers (France).
2022: Settlement of Carillion Lawsuit
In 2022, KPMG UK confidentially settled a £1.3 billion lawsuit launched by the UK's Official Receiver related to its audit of Carillion between 2014 and 2018.
2022: Investigation into Entain Audit
In 2022, the UK accounting regulator, the Financial Reporting Council, announced an investigation into KPMG's UK affiliate's 2022 audit of gambling company, Entain.
February 2023: KPMG Settled £1.3bn Lawsuit Brought By Carillion's Liquidators
In February 2023, The Guardian reported that KPMG had settled the £1.3 billion lawsuit brought by Carillion's liquidators; details of the settlement were not made public.
October 2023: FRC fines KPMG UK £21 million
In October 2023, the Financial Reporting Council (FRC) fined KPMG UK £21 million for failing to follow "the most basic and fundamental audit concepts" and for an "unusually large number of breaches." KPMG UK will also pay legal costs of about £5.3 million.
December 2023: Lawsuit by H2O Investors
In late December 2023, KPMG's French affiliate was sued by Collectif Porteurs H2O, representing investors in H2O funds, for losses related to investments in illiquid assets tied to Lars Windhorst.
2023: Criticism for Audits of Collapsed Banks
In 2023, KPMG faced criticism for its audits of Signature Bank, First Republic Bank, and Silicon Valley Bank (SVB), all of which collapsed.
2023: Criticism Over NYCB Audit
In 2023, KPMG faced criticism over its audit of the distressed New York Community Bank (NYCB).
May 2024: Merger of KPMG UK and Switzerland firms
In May 2024, KPMG partners approved the merger of its UK and Switzerland firms, working across audit, legal, tax, and advisory, and generating $4.4 billion annually.
November 2024: Investment in AI Services
In November 2024, KPMG announced that it would spend $100 million over the next four years to boost its enterprise artificial intelligence services via a partnership with Alphabet's Google Cloud.
2024: Revenue Generation by Service Lines
In 2024, KPMG was organised into three service lines that generated $38.4 billion in revenue.
February 2025: Removal of Diversity Reports
In February 2025, KPMG US removed from its website the diversity reports it had been publishing since 2020 as part of a broader effort to abandon the firm's DEI targets.
2025: KPMG New York City office downsizing
In August 2022, KPMG announced plans to downsize its office footprint in New York City in 2025, when it moves its offices in the city from Midtown Manhattan to Two Manhattan West in Hudson Yards.
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