KPMG is a global accounting and consulting firm that advises companies on strategy, operations, and financial matters

KPMG is one of the "Big Four" accounting firms — the largest by revenue in the world. The company operates in more than 140 countries and employs over 200,000 people. It serves businesses of all sizes, from startups to Fortune 500 companies, as well as government agencies and nonprofits.

KPMG makes money by charging clients for information and services. Unlike a bank or insurance company, KPMG does not hold your money or sell you a product. Instead, it sells time and informed. A client hires KPMG to solve a specific problem — how to cut costs, whether to enter a new market, how to handle a merger, or how to set up financial controls.

If you work in business or finance, you may encounter KPMG as an external advisor your company brings in. If you are looking for a job, KPMG is a major employer in accounting, consulting, and audit. If you own a small business, KPMG's smaller practices may offer tax or bookkeeping services, though most of KPMG's revenue comes from large corporate clients.

Key Takeaways

  • KPMG is a professional services firm that charges clients for consulting, audit, tax, and advisory work rather than selling products or managing money.
  • The firm operates in audit (checking financial records), tax (planning and compliance), advisory (strategy and operations), and deals (mergers and acquisitions).
  • KPMG works primarily with large corporations and government agencies, though it also serves mid-market and smaller businesses through regional offices.
  • The firm is owned by its partners — the senior professionals who run it — not by shareholders or a parent company.

The Four Main Service Lines KPMG Offers

KPMG divides its work into four broad categories. Audit is the oldest service: KPMG sends accountants into a company to examine its financial records, check that the numbers are accurate, and issue a report. Public companies are required by law to have an outside audit every year. Private companies and nonprofits often hire auditors to verify their finances for lenders, investors, or donors.

Tax services include helping companies figure out what they owe in taxes, planning ways to reduce that bill legally, and handling disputes with tax authorities. A business might hire KPMG's tax team to structure a merger in a tax-efficient way, to set up operations in a new country, or to respond to an audit by the IRS or a state tax agency.

Advisory is the broadest category. It covers strategy (should we enter this market?), operations (how do we run this division more efficiently?), risk management (what could go wrong and how do we prepare?), and technology (how do we build or upgrade our systems?). Advisory work is often what people mean when they say "consulting."

Deals focuses on mergers, acquisitions, and divestitures. When one company buys another, KPMG may help with due diligence (investigating the target company), valuation (what is it worth?), and integration (how do we combine the two organizations?).

How KPMG Is Structured and Owned

KPMG is a partnership, not a corporation with shareholders. The firm is owned by its partners — senior professionals who have been promoted into ownership. Partners share in the firm's profits and have a say in how it is run. This structure is common among professional services firms like law firms and accounting practices.

KPMG operates as a network of independent member firms in different countries. The U.S. firm is separate from the UK firm, which is separate from the Australian firm, though they share the KPMG brand and coordinate on global clients. Each member firm is governed by its own partners but follows KPMG's global standards for quality and ethics.

Because KPMG is a partnership, it does not publish a stock price or quarterly earnings reports the way a public company does. Financial information about KPMG is less transparent than what you would find for a bank or insurance company. The firm reports its revenue and employee count annually, but detailed breakdowns by service line or geography are limited.

Who Hires KPMG and Why

Large corporations are KPMG's primary clients. A Fortune 500 company might have an ongoing relationship with KPMG, calling on different teams for audit, tax planning, and strategic information. Banks, insurance companies, healthcare systems, and manufacturers are common clients because they have complex finances and regulatory requirements.

Government agencies hire KPMG for audits, policy analysis, and technology projects. Nonprofits and universities use KPMG for financial audits and grant compliance. Private equity firms hire KPMG to evaluate companies they are thinking of buying.

Small and mid-sized businesses may work with KPMG's regional or local offices for tax preparation, bookkeeping, or basic consulting. However, the bulk of KPMG's revenue comes from large, complex engagements with major corporations and institutions. A small business is more likely to work with a local accounting firm or a smaller regional consulting company.

How Much KPMG Charges and What Affects the Cost

KPMG charges by the hour or by the project. An hourly rate depends on the seniority of the person doing the work. A junior analyst might bill at $150 to $250 per hour, while a senior manager might bill at $400 to $600 per hour, and a partner might bill at $800 or more. These are rough ranges and vary by location, service line, and client.

For larger projects, KPMG often quotes a fixed fee rather than an hourly rate. An audit of a mid-sized company might cost $50,000 to $200,000 depending on complexity. A major strategic consulting project could cost hundreds of thousands or millions of dollars. The cost depends on the scope of work, how many people are involved, how long the project takes, and how senior the team members are.

KPMG also charges for expenses — travel, software licenses, subcontractors — on top of the labor cost. A client should ask upfront for a budget estimate and understand what is included in the quoted price.

KPMG's Reputation and Controversies

KPMG is widely recognized as a reputable firm with strong technical informed. It attracts top talent from universities and competes aggressively for major clients. The firm is known for rigorous audit standards and deep knowledge of complex industries.

Like other large accounting and consulting firms, KPMG has faced criticism and legal challenges. In 2020, KPMG agreed to pay $50 million to settle charges that it had improperly influenced the Public Company Accounting Oversight Board, a regulator. The firm has also faced lawsuits from clients over failed projects or missed important date. In some high-profile cases, KPMG audits have been questioned after companies later collapsed or disclosed major accounting problems.

These incidents do not mean KPMG is dishonest or incompetent — large firms occasionally face disputes and regulatory issues — but they are worth knowing about if you are considering hiring KPMG or evaluating its work on behalf of a company you own or work for.

How to Contact KPMG or Learn More

KPMG's main website is kpmg.com. From there, you can find contact information for KPMG offices in your region, browse service offerings by industry, and read case studies of past projects. The site also has a careers section if you are interested in working for the firm.

If you work for a company that is considering hiring KPMG, you would typically contact a local KPMG office or ask for a referral from your accountant or lawyer. KPMG has dedicated teams for different industries — financial services, healthcare, manufacturing, energy, and others — so you can request someone with experience in your field.

If you are a job seeker, KPMG recruits heavily from universities and professional networks. The firm offers internships, entry-level positions, and experienced-hire roles in audit, tax, advisory, and deals.

Frequently Asked Questions

Is KPMG the same as a bank or investment firm?

No. KPMG does not hold money, manage investments, or lend to customers. It is a professional services firm that charges for information and auditing work. Banks and investment firms are regulated differently and have different business models.

Do I need to hire KPMG if I own a small business?

Not necessarily. Most small businesses work with local accountants or smaller regional firms for tax and bookkeeping needs. KPMG's services are typically more expensive and geared toward larger organizations. A local CPA or accounting firm is usually a better fit for a small business.

What does it mean if KPMG audited my company's financial statements?

It means KPMG examined your company's financial records and issued a report saying whether the statements are accurate and presented fairly. An audit does not may provide there are no errors, but it provides reasonable assurance that the numbers are reliable. Public companies are required to have annual audits.

Can I work for KPMG without an accounting degree?

Yes. KPMG hires people with degrees in business, economics, engineering, and other fields for consulting and advisory roles. Audit and tax roles typically require accounting or finance education. The firm also hires for operations, technology, and other support functions.

How is KPMG different from Deloitte, EY, or PwC?

All four are large professional services firms with similar service lines and global reach. They compete for the same clients and talent. Differences are often subtle — industry informed, cultural fit, or specific strengths in certain service areas. For a client choosing between them, the decision often comes down to which firm has the best team for the specific project.