Literatura científica selecionada sobre o tema "KPMG International"

The 1Malaysia Development Berhad (1MDB) has had three auditors since it started its operation several years ago. The issues of interest are related to the subject matter of auditor switching and the audit failure allegations made against its two latter auditors: KPMG and Deloitte. When it concerns Deloitte, it was accused of hiding 1MDB’s insolvency. As for the KPMG, it was accused of failing to expose the allegedly suspicious transactions between 1MDB and its joint venture partner Petrosaudi International Limited (PSI) to the relevant authorities. As for the auditor switching from KPMG to Deloitte, questions arose on the reasons for and its timing.

What might seem like a small ethical transgression by an individual can lead to a series of subsequent decisions, and result in serious fraud. This can not only impact the individuals involved and their organizations, but also erode public trust in firms and institutions. When Brian Sweet left a position with the Public Company Accounting Oversight Board (PCAOB), an organization that oversees the inspection of audits, and went to work for KPMG, one of the large accounting firms whose audits he had inspected, he took with him confidential information that he thought could prove useful in his new position. Sweet subsequently shared confidential information with his new employer, and over the next two years acquired additional confidential information through contacts at PCAOB. Debra Kaufmann, a KPMG audit partner, was faced with a decision about how to react when Sweet shared confidential information that she believed neither she nor KPMG should have.

This article is devoted to the study of the nature of the reflection of such geopolitical events as the russian-Ukrainian war of 2022 in the note "events after the reporting period" of the annual financial statements of transnational companies for the year 2021. The article examines annual reports, for which the reporting period is from January 1, 2021 to December 31, 2021, and the russian-Ukrainian war began on February 24, 2022, the specified geopolitical event is the second type of event - an event that indicates the conditions that arose after the reporting period. Thus, according to the recommendations of the consulting company BDO and the auditing company KPMG, this event does not require the adjustment of the indicators of the annual report. Experts of the auditing company KPMG substantiated this statement by the fact that significant changes in the economic conditions of business and the political environment, as a direct consequence of the war, occurred after the end date of the reporting period. Substantial changes mean the military invasion of russia on the territory of Ukraine and, as a result, the introduction of economic sanctions against the government and business of russia and Belarus by the international community.

This article is a case note of Controller and Auditor-General v Davison CA 226/95, 16 February 1996. The case involved an application for judicial review of an order by the "Winebox" Commission of Inquiry to the Audit Office and KPMG Peat Marwick to produce documents relating to their functions as Government Auditor of the Cook Islands. The three authors make comments about the case and its impact on private international law, noting in particular the doctrine of sovereign immunity. *NOTE: a French version summary is provided at 476.

In today’s fast moving environment, organizations either thrive or fail depending on how they manage information. Information is a critical and strategic organizational asset and must be harnessed as a business asset. This requires action and leadership at Board level. In 1995, a pivotal report, the Hawley report, argued this case forcibly and presented an agenda for Board action developed through discussion among 30 UK private and public sector organizations working within a KPMG IMPACT programme. Actions to ensure that Board operation was underpinned by sufficient and valid information were accompanied by recommended measures to ensure information assets were well and legally managed and deployed to advantage at every level of operations. A successor report has just been published by the Chartered Institute of Information Professionals, KPMG, CIO Connect and IK SpringBoard supported by the Network for Information and Knowledge Exchange. It reinforces the responsibilities of Boards in leading their organization’s information vision, policy, strategy and governance. This article explains why senior leadership is so vital as the fourth industrial age is followed by the fifth and the power of information is transformed through artificial intelligence and Interconnection.

У статті досліджено важливість та актуальність складання бізнес-плану для підприємств будь-якої сфери діяльності. Розглянуто ключові завдання, які вирішує якісно складений бізнес-план. Зокрема, зазначається, що ефективне бізнес-планування на підприємствах сприяє забезпеченню стабільного розвитку суб’єкта господарювання, досягненню кращих результатів діяльності, а також підвищенню конкуренції на ринку, на якому воно працює. Наголошується, що бізнес-план є вкрай необхідним інструментом, особливо під час запуску нового напряму економічної діяльності, оскільки саме бізнес-план дає змогу здійснити детальний попередній аналіз та прогнозування розвитку підприємницького проєкту. Ключовий фокус дослідження спрямовано на вивчення успішного досвіду складання бізнес-планів за міжнародними та європейськими стандартами. Констатується, що існують різні методи написання бізнес-планів, які спираються на державні, місцеві, національні чи міжнародні стандарти. Більшість методів розроблено шляхом адаптації міжнародних стандартів бізнес-планування до національних практик. Зокрема, в межах цього дослідження увагу зосереджено на методології складання бізнес-планів відповідно до стандартів Організації Об'єднаних Націй з промислового розвитку – UNIDO (United Nations Industrial Development Organization), Європейського банку реконструкції та розвитку (European Bank of Reconstruction and Development), програм технічної допомоги для СНД – TACIS (Technical Assistance for the Commonwealth of Independent States), а також принципів міжнародної мережі фірм-членів KPMG International (KPMG International Cooperative). Представлено структуру бізнес-планів за цими стандартами, а також надано коротку характеристику кожному з них. Крім того, зазначено, що на вітчизняних підприємствах є певні проблеми з реалізацію бізнес-планів, пов’язані, насамперед, з розглядом лише одного або декількох розділів бізнес-планів, ігноруючи важливість інших. За результатами дослідження робиться висновок про те, що при розробці бізнес-планів українські підприємства мають зосереджуватись не лише на фінансових аспектах планування діяльності, а й приділяти належну увагу іншим розділам структури бізнес-плану, оскільки кожен з них несе свою важливу для інвестора інформацію (насамперед, це стосується розділу із планування ризиків, який, на жаль, часто виявляється недостатньо розробленим вітчизняними компаніями).

ABSTRACT: This audit case examines an interesting real-life instance of financial statement manipulation by a client (Xerox, Inc.) and the related audit failure by the audit firm (KPMG). The facts of this case are drawn from several SEC Accounting Enforcement and Administrative Proceedings Releases. Learning objectives specific to this case include an increased awareness of the importance of reserves, including when their use is appropriate or inappropriate; better understanding of the role of a concurring partner; improved perception of when departures from GAAP are improper; a heightened awareness of the importance of professional skepticism; the identification of audit risk factors; exposure to International Financial Reporting Standards (IFRS); and identification of illegal acts by a client’s management.

Whilst globalization has taken command of supply chains worldwide, and human rights practices are being respected with stricter conviction, the burden to eradicate forced Labour and modern slavery from global supply chains has shifted from governments to corporations. In this article Klynveld Peat Marwick Goerdeler (KPMG) offers a global perspective on how the US government has ramped up efforts in eliminating forced Labour linked to the importation of goods into the US. The article addresses both policy and legislative authorities as well as case studies linked to company initiatives. A further observance addressing leading practices is offered in order to provide a more human rights compliant policy for corporations. Forced Labour, Human Rights, Customs, Imports, Uyghur, Xinjang, Convict Labour, Consumptive Demand, Section 1307, USTR.

The purpose of the study is to determine whether advisory firms valuing privately-owned companies in South Africa take unsystematic risk into account and, if they do, how objectively it is done. A literature search was reviewed and used as a foundation in a questionnaire to gather information from the big four audit, advisory and taxation firms (PricewaterhouseCoopers, KPMG, Deloitte & Touch and Ernst & Young). The study found that unsystematic risk is incorporated into privately-owned company valuations, but that the whole subject of valuations, especially privately-owned company valuations, does not entail entire objectivity. The study further concluded that it is possible to use unsystematic risk as a device to bring the final results of a valuation in line with the clients objective. Further research should be done by extending the population to include medium- and large advisory firms and comparing the approaches used by each group.

SUMMARY This paper provides an empirical examination of the corporate social responsibility (CSR) assurance market in the United States. Various constituencies have found this market puzzling, as the level of assurance significantly lags international levels (Simnett et al. 2009; KPMG 2011). Results shed light on this enigma by demonstrating that, unlike their international counterparts, U.S. finance and utilities firms are not more likely (than firms in other industries) to obtain CSR assurance despite facing significant social and environmental risks. As these industries are highly regulated in the United States, regulatory oversight may be acting as a substitute for CSR assurance. We also find that highly leveraged firms are less likely to obtain CSR assurance, potentially due to stringent bank monitoring indirectly suppressing demand. Nonetheless, examining the capital market responses to CSR assurance makes the low demand even more puzzling. Specifically, CSR assurance is associated with lower cost of equity capital along with lower analyst forecast errors and dispersion. Furthermore, the reductions in cost-of-capital and forecast dispersion are significantly higher when CSR assurance is provided by an accounting firm. These results have implications for companies that are considering CSR assurance and accounting firms in developing and marketing their CSR assurance services.

Stosunki dyplomatyczne państw przez wieki regulowane były przez normy prawa zwyczajowego. Jednakże wraz z intensyfikacją stosunków międzynarodowych pojawiło się dążenie do skodyfikowania norm prawnych obowiązujących pomiędzy państwami w umowie międzynarodowej. Zadanie to zrealizowała Komisja Prawa Międzynarodowego ONZ, opracowując w latach 1954–1958 projekt artykułów w zakresie prawa dyplomatycznego, przyjęty następnie przez państwa w postaci Konwencji wiedeńskiej o stosunkach dyplomatycznych z dnia 18 kwietnia 1961 r. W niniejszej rozprawie przeprowadzono analizę związków pomiędzy obowiązującymi, w ocenie Komisji Prawa Międzynarodowego, normami zwyczajowego prawa dyplomatycznego a normami umownymi wyrażonymi w Konwencji wiedeńskiej z 1961 r. Pierwszy rozdział stanowi wprowadzenie do analizowanej tematyki poprzez przedstawienie genezy kodyfikacji norm zwyczajowego prawa dyplomatycznego. Co więcej, znalazło się w nim wyjaśnienie podstawowych terminów stosowanych w dalszych częściach pracy. W rozdziale drugim zostały zaprezentowane kolejne etapy prac podejmowanych przez Komisję Prawa Międzynarodowego. Proces ten rozpoczął się od powołania specjalnego sprawozdawcy, który przygotował raport wraz z projektem artykułów. Były one następnie przedmiotem debaty podczas dwóch kolejnych sesji Komisji. W trakcie prac swoje uwagi zgłosiły również państwa, które w 1961 r. na konferencji kodyfikacyjnej w Wiedniu przyjęły obecnie obowiązującą treść Konwencji wiedeńskiej z 1961 r.W rozdziałach od trzeciego do szóstego przeanalizowano kolejne normy zwyczajowego prawa dyplomatycznego, których treść dyskutowana była na posiedzeniach Komisji Prawa Międzynarodowego w latach 1957–1958. Rozdział trzeci zawiera analizę norm prawa zwyczajowego w zakresie nawiązania stosunków dyplomatycznych przez państwa. Obejmuje ona działania zmierzające do utworzenia misji dyplomatycznej państwa wysyłającego, ustanowienia personelu misji dyplomatycznej, a w szczególności powołania szefa misji dyplomatycznej. W rozdziale czwartym analizie poddano funkcje dyplomatyczne, których katalog został wypracowany przez Komisję Prawa Międzynarodowego. Komisja uwzględniła także zgłoszone uwagi państw, w szczególności w zakresie pełnienia przez misję dyplomatyczną funkcji konsularnych. Rozdział piąty rozpoczyna się od wskazania teoretycznych podstaw przywilejów i immunitetów dyplomatycznych. Najważniejszą jest teoria funkcji, która uzasadnia przyznanie przywilejów i immunitetów, jako niezbędnych do wykonywania funkcji misji. W dalszej części rozdziału przeanalizowano przywileje i immunitety przyznawane misji dyplomatycznej. Z kolei w rozdziale szóstym została przeprowadzona analiza przywilejów i immunitetów przyznawanych członkom personelu misji. Istotna w tym zakresie jest analiza zarówno przywilejów i immunitetów przyznawanych personelowi misji dyplomatycznej, jak również ich obowiązków w stosunku do państwa przyjmującego. Rozdział siódmy stanowi uzupełnienie przeprowadzonej analizy, obejmując wyjaśnienie miejsca prawa zwyczajowego, ze szczególnym uwzględnieniem prawa dyplomatycznego, w polskim porządku prawnym, w świetle obowiązujących źródeł prawa wewnętrznego, orzecznictwa sądów oraz poglądów doktryny.W wyniku badań przeprowadzonych w niniejszej rozprawie możliwe było wysunięcie wniosków, wyrażonych w stosunku do kolejnych postanowień Konwencji wiedeńskiej z 1961 r., określających, czy stanowią one kodyfikację zwyczajowego prawa dyplomatycznego, czy są wyrazem działania Komisji Prawa Międzynarodowego ONZ przyczyniającej się do stopniowego rozwoju prawa międzynarodowego. W zakończeniu niniejszej rozprawy przedstawiono natomiast wnioski ogólne wynikające z przeprowadzonej analizy.
Diplomatic relations of states has been always regulated by the norms of a customary law. However, along with the intensification of international relations arose the need to regulate legal rules binding states in the form of the international treaty. This task has been achieved by the International Law Commission (henceforward called ILC) which, between 1954–1958, has prepared a draft articles on diplomatic law which were accepted by states and concluded in the form of the Vienna Convention on Diplomatic Relations, 18 April 1961. The overriding goal of the present doctoral dissertation was to analyse the relations between binding, in the opinion of the International Law Commission, rules of customary diplomatic law and treaty rules arising from the Vienna Convention of 1961.The first chapter is an introduction to the analysed topic, in which the origin of the codification of customary diplomatic law has been described. In addition, the chapter provided the explanation of the basic terms used in the further parts of this work. In the second chapter, the progress of work of the International Law Commission has been presented. This process has begun with the appointment of the special rapporteur, who had prepared the special report with the draft articles. The draft was then the subject of debate during two consecutive sessions of the ILC, during which states also gave theirs comments. The proposed draft articles were agreed during the conference in Vienna in 1961 and concluded as Vienna Convention on Diplomatic Relations.Chapters from three to six contain analysis of the norms of the customary diplomatic law, which were discussed during the plenary sessions of the International Law Commission in 1957 and 1958. Chapter three provided the analysis of customary law of in conection with establishing diplomatic relations between states. It consists of activities aiming at starting diplomatic mission, appointing the personnel of this mission, and in particular in appointing the head of the mission. In chapter four the diplomatic function, which catalogue was proposed by the International Law Commission, has been analysed. The ILC has taken into account the comments of states, especially by adding the possibility of performing consular function by the diplomatic mission. In chapter five the theoretical background of diplomatic privileges and immunities has been described. The most important is theory of functional necessity, which justifies privileges and immunities as being necessary to enable the mission to perform its functions. After that, the analysis of the privileges and immunities relating to the diplomatic mission was conducted. Chapters six provided the analysis of personal privileges and immunities. What is important, the subject of this chapter were both: the privileges and immunities of the personnel of the diplomatic missions, as well as as theirs obligations towards the receiving state. Finally, chapter seven consists of the explanation of the customary law, especially diplomatic law, in Polish legal order according to the inner sources of law, judicial decisions and doctrine.The results of analysis described in the present doctoral dissertation allows to draw conclusions concerning articles of the Vienna Convention of 1961, and identify whether they are the result of the codification of the customary diplomatic law, or the proposition of the International Law Commission influencing the progressive development of international law. At the end of the work, the general conclusions has been presented.

The “Big-Four” accounting firms dominate the global accounting/auditing industry, and the big-seven consulting firms (Bain; McKinsey; Booz; Deloitte; PwC; KPMG and E&Y) dominate the global business/management consulting industry and stifle competition. During 1990-2017, the global auditing/accounting industry and the global management consulting industry experienced significant structural changes that have implications for Financial Stability, systemic risk and the proper functioning of capital markets. Some of the results included the collapses of stock prices and bond prices of firms suspected of earnings management; and substantial litigation against auditing firms, CRAs and board of directors. Accounting/audit firms and consulting firms have always been key elements in the fight against earnings management, securities fraud, corruption and asset quality management because of their unique position as external auditors and advisors. This chapter introduces some efficient Auditor allocation and Compensation Mechanisms. These new “Learning Business Models” and contracts can solve the conflicts of interest, Antitrust, greed, Regret, Deadweight-Losses, complexity and industrial organization problems inherent in the Auditing/consulting industry; and each such model contravenes Myerson-Satterthwaite Impossibility Theorem, Arrow's Impossibility Theorem, Sen's Impossibility Theorem, Gibbard's Theorem, the Gibbard-Satterthwaite Impossibility Theorem, and the Green-Laffont Impossibility Theorem. These issues have implications for international trade and international capital flows given the prevalence of accounting and management consulting in almost all aspects of modern business.

Abstract The early 1990s will be remembered as a critical period for the auditing ‘industry’. A series of ‘failures’ in the UK financial services sector received prominent coverage in the national press, notably the closure of the Bank of Credit and Commerce International (BCCI) in mid-1991 and the collapse of the Maxwell business empire. These events added further fuel to continuing preoccupations with the ‘expectations gap’, understood as the difference between public and auditor perceptions of the role of audit (e.g., KPMG Peat Marwick McLintock 1990; Humphrey 1991). In the UK research has been commissioned to address this problem, and, as an initial measure, a new form of words for the audit report has been proposed (APB 1991), with the intention of bridging this gap by educating the users of audit services. Perceptions of the role of the UK statutory auditor have also been affected by some interpretations of the judgment in Caparo v. Dickman, 1990 which suggest that auditors have little legal responsibility to those third parties who may place trust in their work. In addition, Labour MP Austin Mitchell has been at the forefront of public criticism of the accounting profession and its auditing activities. With each new company failure (British and Commonwealth Holdings, Polly Peck, BCCI, Maxwell Communications), initial reactions have included the question: ‘What were the auditors doing?’ (Mitchell 1990).

A participação da tecnologia na sociedade tornou-se cada vez mais presente, seja ela no âmbito social ou econômico. Conforme Hayne; Wyse (2018), em pleno século XXI vive-se um processo de globalização, onde a quebra de barreiras econômicas é marcada pela flexibilidade de recursos, sendo esse cenário responsável pelo avanço da tecnologia de automação e ponta. O que tem culminado com o nascimento de muitas empresas nesse setor. De acordo com estudo publicado pela KPMG (2021), no ranking setorial de transações, acumulado de 2001 a 2020, o setor de tecnologia da informação lidera os números de fusões e aquisições no mercado brasileiro, com 1.638 transações, seguida pelo setor de empresas de internet, com 1.246. Ao analisar os números ao longo dos últimos cinco anos do estudo, o setor de TI figurou em segundo colocado no ranking, sempre atrás do setor de empresas de internet, com exceção a 2016, onde houve a inversão.

Abstract A pneumatic pressure test can be performed when hydrotesting a pipe is infeasible and/or impracticable. Despite its use throughout the industry, little published reference material is available regarding this important and ubiquitous topic with no known industry codes, standards or criteria identified to provide guidance related to stabilization time, test evaluation, and acceptance criteria. This paper provides an evaluation of minimum stabilization time for various pipe sizes and lengths obtained from transient, parametric simulation results. By evaluating typical test parameters, the paper concludes that gas mass should be used as the principal evaluation criterion, since it is conserved during testing if there is no leak. This paper introduces an acceptance index for which a test can be accepted provided the acceptance index is within defined lower and upper limits obtained from the accuracy of the pressure and temperature measuring devices. Field test data from three cases studies are successfully presented to verify the feasibility and validity of the proposed acceptance criteria for natural gas mains pneumatically tested with nitrogen at test pressures in the range of 300 psig (2,068 kPag) to 900 psig (6,205 kPag).

Abstract Effective purging of air out of a pipeline section before commissioning by direct displacement with natural gas has been safely practiced for decades with the recognition that flammable interfacial mixing zone between the driving gas (behind) and the air (ahead) is inevitable. In cases when the purge velocity is below a threshold dictated by the gravity current velocity (defined in AGA Purging Principles and Practices, 2001), natural gas being lighter than air can in fact ride over air being the heavier gas and short circuit the flow path to the vent at the other end of the pipe section, thus trapping behind pockets of air that could potentially introduce risk of internal explosion with subsequent damage to the pipe section and pose a safety issue to field personnel. Therefore, maintaining the purge velocity above this threshold by a good margin has been a common practice in the purging procedure to-date. In fact, maintaining the purge velocity above the threshold can be controlled by the injection press or flow, where tools and dynamic purging models have been successfully developed and proven to be useful. However, AGA recommends that the drive purge gas pressure be limited to 689 kPag (100 psig) in the inlet purge line to the pipe section to avoid the risk of detonation. In some cases when the inlet purge line is relatively small compared to the main pipe section, this limit on the purge pressure would result in gas/air interfacial velocity much lower than the threshold velocity, hence stratification will occur. This paper provides insight into the possibility of increasing the purge pressure above AGA limit to avoid stratification, while conforming to the safety aspects related to detonation. A purge model is developed to overcome the shortcoming in AGA purge software that limits the purge pressure to maximum of 689 kPag (100 psig). Field trial was conducted to validate the model which demonstrated, as a proof of concept, a successful purge procedure with purge pressure = 5517 kPag (800 psig) in NPS 1.5 purge line to purge nitrogen out of NPS 42, 5.8 km section of a pipeline.

The purpose of the ejector device is to capture the gas leakage from a dry-gas seal at low pressure, and re-inject it into the fuel gas line to the gas generator (without the use of compressors or rotating elements), hence providing a means to utilize the gas that would otherwise be vented to atmosphere. Implementation of this device will also have the benefit of reducing greenhouse gas emissions to the atmosphere. The primary challenge to achieve the above goal lies in the fact that the leakage gas pressure is in the range of 70–340 kPag, while the minimum pressure required upstream of the fuel gas regulator is in the range of 2400–3300 kPag. The device consists of a two-stage supersonic ejector. The first stage is highly supersonic (nozzle exit Mach number ≃ 2.54), while the second stage is moderately supersonic (nozzle exit Mach number ≃ 1.72). Several tests where conducted on various configurations of the two stages on natural gas in order to arrive at the optimum design and operating parameters. The optimum design gave an expansion pressure ratio (motive/suction) of the order of 14.0 and compression pressure ratio (discharge/suction) of around 8.1. These ratios would meet the requirement of the minimum suction and discharge pressure mentioned above. This paper presents the optimum configuration arrived at after several iterations of different geometries of the supersonic nozzles, particularly for the first stage ejector, and presents the performance test results of the integrated system. The results indicate that the device would meet the requirements of capturing the low pressure, low flow dry gas seal leakage and re-inject it into the fuel gas stream with an overall ejector efficiency (based on thermodynamic availability) of 80%.