History

History

The KPMG network was formed in 1987 when Peat Marwick International and Klynveld Main Goerdeler merged along with their respective member firms.

The KPMG network was formed in 1987

KPMG in Azerbaijan

KPMG has been working in Azerbaijan since 1998, and our essential principle has always been to use the network's global intellectual capital, combined with the practical experience of our local professionals. KPMG has operated a full service office in Azerbaijan since 2011.

Our staff in Azerbaijan is now over 75, with the majority of them represented by Azerbaijani professionals who are assisted by foreign personnel. KPMG in Azerbaijan provides audit, tax, legal and advisory services to a great number of the banks and financial institutions of the country, as well as to enterprises in the leading sectors of the economy such as construction, oil and gas, telecommunications, and the food industry.

Our strength in the Commonwealth of Independent States (CIS) countries is our base of local national KPMG trained professionals augmented by KPMG trained expatriates from around the world.

These invaluable human resources are available to all of our offices and project centers throughout the region and we are building for the future by transferring skills possessed by our professionals from elsewhere in the world to our local staff.

Mergers in the early years

In 1911, Peat and Mitchell met as fellow passengers on an Atlantic crossing from Europe to America. The two hit it off on the week-long trip, and by the end of the journey, had hammered out a plan to join forces. The firm later became known as Peat, Marwick, Mitchell & Co.

Championing diversity from the start

At the turn of the twentieth century, Sir William Peat, as President of the ICAEW, championed changing the Institute’s rules to permit the admission of women. The first woman to qualify as an ICAEW accountant in 1924, Ethel Watts, was employed by his son, Sir Harry Peat, while in training.

The war years

In the first and second World Wars the British government turned to Sir Harry Peat (son of William Barclay Peat) and appointed him to be financial secretary designate of the Ministry of Food. The Ministry had the hugely important job of ensuring there were no food shortages in the UK. Meanwhile across the Atlantic in the United States, Partner, William M. Black was involved in the Lend-Lease program, which Congress established in March 1941, before the United States formally entered the war, to provide weapons, equipment and other assistance to its allies. During the summer of 1942, Black moved to London on special assignment to the Mission for Economic Affairs, where he was in charge of materials procurement for the US$60 billion Lend-Lease program and provided support to British Prime Minister Winston Churchill and his government.

Rapid change in the 70s and 80s

In 1978, Peat, Marwick, Mitchell Co (International) implemented a new structure and was renamed Peat Marwick International (PMI).Growth was on the agenda for Klynveld Kraayenhof & Co. too. Just a year later in 1979, the firm joined forces with DTG and McLintock Main Lafrentz to form Klynveld Main Goerdeler (KMG).Just under a decade later, In 1986 PMI merged with KMG.

On January 1, 1987, when the merger was announced to the public, the joint companies renamed to Klynveld Peat Marwick Goerdeler.  

At the time it was the largest merger in the history of the accounting business.

The record breaking continues

And we didn’t stop record breaking there. In the mid-90s, KPMG was the first of the big five to publish reports and accounts, and the first to create a values charter.

Continued growth

In the 1990s and 2000s the KPMG network continued its expansion into emerging economies. In countries such as Russia, India and Myanmar, KPMG firms helped build economies and generate economic growth.Today, the network of member firms exists in 155 countries, with 162,000 people, each committed to build on our solid foundation – and inspire confidence and empower change for our clients, communities and society at large.

Careers

Explore global opportunities that fit your career goals at KPMG Azerbaijan.

 
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Our Values

Our values create a sense of shared identity within the KPMG organization.

 
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Insights

Welcome to the KPMG knowledge base of research in Azerbaijan.

 
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