„At KPMG, we honour the core values that shape culture across our member firms, including a strong commitment to our communities. We believe strongly that responsible business practices contribute to broad-based development and sustainable markets".
KPMG International global network
KPMG International is a global network of independent companies operating in 154 countries throughout the world. It is staffed by more than 197 000 professionals with multidisciplinary skills and offers audit and tax services and advisory.
The independent member firms of the KPMG network are affiliated with the KPMG International Cooperative ("KPMG International"), a Swiss entity.
Each member firm of the global KPMG network is referred to and identified as a legally independent and separate entity that is independently responsible for its management and the quality of its services. Member firms may use KPMG’s name, brand, and method, provided they agree to abide by KPMG’s global values.
KPMG International undertakes activities to benefit the global network of KPMG member firms, but does not offer professional services to clients. Such services are offered exclusively by KPMG member firms.
One of the most important goals of KPMG International is to assist member firms in providing audit, tax and advisory services on a consistently high level of quality. KPMG International e.g. sets and assists in the implementation and adherence to uniform rules and standards in the functioning of independent member firms.
KPMG International ensures that internal rules and standards are the same in all member firms and serve the common brand, thus attempting to contribute to the sustainability of the group as a whole.
All member firm are obliged to adhere to KPMG’s corporate policy and rules pertaining to quality standards.
This structure built upon member firms strengthens KPMG International's global strategy, ensures that its values are adhered to and that the standard of services throughout all global markets remains the same. This approach allows for the continuous sharing of knowledge and expertise among professionals throughout the global network.
We love being part of our clients’ success. We are proud of the KPMG brand and of the direction our firm is taking.
We want to be an attractive employer for university graduates, provide excellent services for successful companies and hence become a highly sought-after partner that delivers the best services in the field.
Over the years, KPMG staff has created a unique corporate culture that is based on strong values. We are considerate of the environment and provide assistance to a number of organisations as part of our CSR projects.
Our shared values complement each other and help us express what we stand for as a firm and where we are headed. Our values help us make informed decisions, face demanding challenges and discover new opportunities. They make us stand apart from our competition. Our KPMG Story unites and helps us grow and reach our staked out goals – individually, together, and as a global organisation.
Our success as a firm hinges on the exceptionality of our people. We are not afraid of being different. The trust of the public is crucial to us. We want to be the clear choice; both for clients as well as for employees.
We lead by example
No matter at what position and level, our behaviour sets examples and shows what we expect from others.
We work together
We bring out the best in each other by creating strong and successful working relationships.
We respect the individual
Our employees are personalities. We respect their knowledge, skills, and experience.
We seek facts and provide insights
We challenge assumptions and pursue facts, thereby strengthening our reputation as trusted and objective business advisers.
We communicate honestly and openly
We share information, insight and advice frequently and constructively and manage tough situations with courage and candour.
We are committed to our communities
We support educational, environmental and social projects with our expertise and funding.
We act with integrity and uphold moral and ethical principles
We adhere to the highest professional standards as a basis on which we provide advice to clients.
KPMG in the Czech Republic
KPMG in the Czech Republic began its operations in 1990, opening its first office in Prague.
We offer audit, tax, advisory and legal services.
(As at 30 September 2017)
1 149 employees
23 are partners
23 statutory auditors
88 certified accountants
94 tax advisors
36 qualified foreign specialists
In the Czech Republic, KPMG provides services to its clients through four companies:
- KPMG Česká republika, s. r. o. (“KPMG ČR”, founded in 1990)
- KPMG Česká republika Audit, s. r. o. (“KPMG Audit”, founded in 1993)
- KPMG Advisory, s. r. o. (“KPMG Advisory”, founded in 2006)
- KPMG Legal s. r. o., law offices (“KPMG Legal”, founded in 2010).
The ownership structure of KPMG in the Czech Republic as at 30 September 2017:
All KPMG companies in the Czech Republic have their registered office in Prague, Pobřežní 648/1a. KPMG ČR and KPMG Audit also have offices in Brno, České Budějovice and Ostrava.
KPMG offices in Prague
186 00 Praha 8
Tel.: +420 222 123 111
Fax: +420 222 123 100
KPMG offices in Brno
616 00 Brno
Tel.: +420 541 421 311
Fax: +420 541 421 310
KPMG offices in České Budějovice
Fráni Šrámka 2609
370 04 České Budějovice
Tel.: +420 385 347 175
Fax: +420 385 349 995
KPMG offices in Ostrava
28. října 3117/61
702 00 Ostrava – Moravská Ostrava
Tel.: +420 596 158 200
Fax: +420 596 158 201
KPMG Česká republika, s. r. o., KPMG Česká republika Audit, s. r. o. and KPMG Advisory, s. r. o., form one consolidated entity (the “KPMG Group”), which in its statutory consolidated financial statements reported the following financial data:
|in millions of CZK||30. 9. 2017||30. 9. 2016||30. 9. 2015|
|Short-term receivables including accruals||260||355||295|
|Cash and cash equivalents||266||315||241|
|Short-term liabilities including accruals||336||516||418|
|Revenues||1 735||1 771||1 726|
|Operating profit (loss)||221||164||124|
|Profit (loss) from ordinary activities||162||121||94|
Management and organisational structure
The Management Committee is the firms’ steering body. It is responsible for setting and implementing the strategy of the KPMG network of firms in the Czech Republic. The committee meets regularly at least once a month. It addresses crucial issues regarding the firms' activities, i.e. their operating and financial performance, annual plans, new business activities, issues concerning the development of technologies, human resources, marketing, remuneration, risk management policies as well as the management of projects aimed at the improvement of the firm’s operations. The Managing Partner appoints the individual members of the Management Committee.
The Management Committee has six members. In fiscal year 2017, its composition was as follows:
Managing Partner, Partner in charge of Tax and Legal Services
Deputy Managing Partner
Partner in charge of Risk and Quality Management
Partner in charge of Management Consulting
Partner in charge of Audit Services
Partner in charge of Deals
Together, the Partners are responsible for the firm’s corporate strategy and for the oversight over its implementation. They regularly review issues of great importance to the firm. These include its operational and financial performance, annual business plans and budgets, new business proposals, marketing, development of new technologies and work methodologies, remuneration and risk management.
Partners in the firm’s individual departments are regularly informed of all decisions of the Management Committee and may comment on them at monthly or bimonthly general partner meetings. Individual decisions are then implemented. The strategies and the mid- as well as long-term objectives of KPMG Czech Republic are discussed and approved at partners’ retreats held twice a year.
- Audit Commercial 1
- Audit Commercial 2
- Audit Commercial Morava
- Audit Financial Services
- Audit Support Group
Tax and Legal
- Text services
- Accounting Services Payroll
- Management Consulting
- Risk Consulting
- Quality and Risk Management
- Controlling and Internal Processes
- Corporate Social Responsibility
- Information Technology
- Internal Accounts
- IT Security
- Knowledge Management
- Marketing nad Communications
- Markets and Proposals
- Office Administration
- People, Performance and Culture
Services provided by KPMG in the Czech Republic
„The aim of KPMG’s Audit department is to provide trustworthy and intelligible information about a company’s financial state. Our sector oriented teams utilise our detailed knowledge of industrial sectors and employ data analysis. Our experts specialise in individual entrepreneurial branches, among them the financial sector, real estate, energy, industrial enterprises, retail, the automotive industry as well as telecommunications. During audits they always take into account the individual sector’s specifics. KPMG also benefits from the work of actuaries, tax advisors, forensic auditors, valuation as well as IT experts.“
Partner in charge of Audit
Tax Advisory services
„On both local and international levels, tax systems are undergoing dynamic and significant changes. The Czech Republic’s largest team of tax advisors keeps abreast of legislative developments, case law and changes in the tax administrator’s approach. We cooperate closely with the 30 lawyers of our law offices. Thanks to our broad knowledge of accounting and tax legislation and our membership in KPMG’s global network of firms we are able to offer comprehensive advisory services including a broad scale of specialised services.“
Partner in charge of Tax and Legal Services
„The rapidly expanding law offices of KPMG Legal focus on corporate law, transactions, regulatory matters, employment law, and litigation. We offer services to both Czech and international clients and in many instances closely cooperate with experts from KPMG Česká republika. Apart from traditional legal assistance, we also offer more specialised services commonly not offered by law offices, as these require particular expertise, e.g. in the area of investment funds. We are also very active in the provision of advisory services to family businesses.“
Partner in charge of Tax and Legal Services
Advisory services: Management Consulting
„We are able to link knowledge with data and technology. We offer measurable results and provide local expertise with a global perspective. Our team is made up of more than 120 specialists in finance, the energy industry, the public sector, telecommunications, manufacturing companies, sports advisory and other areas. Technological developments are changing traditional business models and companies are faced with geopolitical as well as macroeconomic changes. To remain successful, they must gain and retain a competitive advantage and at the same time deal with the demands of indispensable austerity measures.“
Partner in charge of Management Consulting
Advisory services: Deals
„We think like an investor would and actively look for acquisition, selling, partnership, and investment opportunities and ways to increase effectiveness. Today’s transactions do not take place in a vacuum. As part of every project we consider all business aspects, utilise analytical tools and recognise the specifics of the individual business sectors. We offer impartial advisory and expert services independent from any financing sources, and with a deep knowledge of the local market. Behind us stands KPMG’s entire global network of member firms with the know-how of more than a thousand experts in more than 50 countries.“
Partner in charge of Deals
Advisory services: Risk Consulting
„We offer a broad array of services in risk management. Among them are internal audits that can help identify problems and suggest remedial measures. We also advise clients in financial management. We help finance managers appropriately react to the ever-changing demands of the market environment.“
Partner in charge of Risk Consulting
Advisory services: Accounting Services & Payroll
„We always adapt our services to the specific needs of our clients and thus help them lower costs. We advise them on how to effectively keep their accounting and payroll systems and how to better manage their business. We offer financial accounting, managerial reporting and payroll accounting services as well as administrative support services, e.g. payment order, invoice and statistical summary processing.“
Director Accounting Services & Payroll
Client care and the sectors in which we operate
Our client approach
The needs of our clients change as fast as the ever-developing environment they operate in. Many different factors have to be considered as inherent elements of modern times. “To be successful, not only do we have to offer to our clients top-notch and consistent services, but positive experiences as well. The purpose of professional services is to perceive issues in a broader context and to react to them with innovative and effective approaches. We are more than just a mere provider of services to our clients, but a stable partner that helps them deal with the most complex projects. We adhere to the highest professional standards, while moral and ethical principles constitute our work’s ineradicable foundation,” so Petr Bučík, Partner in charge of sales and client care. The establishment of long-term relationships based on mutual trust forms one of the pillars of KPMG’s business strategy.
Topics like digital transformation, innovative technologies, cyber security, data analysis and robotisation are transforming entire industry sectors and concurrently create a broad scale of new opportunities. Hence, KPMG’s service portfolio continues to expand as we work to perfect it by adding new disciplines that only a few years back did not warrant much attention. Apart from traditional services like audit, tax advisory and risk management, service areas connected with modern technologies are steadily gaining on importance. Coming to the fore are multidisciplinary and end-to-end approaches that call for the involvement of experts from across our firm. Our clients are faced with complex challenges that affect their entire organisations. Our goal is to accompany them on their transformations and to help them grow further. “Our people have to see through the eyes of our clients, have the required knowledge and skills and above all need to be disciplined. I am delighted that KPMG has in its ranks a large number of professionals that fit just this description,” adds Bučík.
Today’s environment is highly competitive, hence we aim to raise the bar of quality ever higher. We place immense emphasis on our clients’ feedback, collect it systematically and subsequently incorporate it into our activities.
Team work and a sectorial market approach
We are able to provide our clients with added value as we share knowledge and experience focused specifically on a given sector of the economy or on the particular needs of a concrete client. Our expert teams meet regularly and discuss sector trends both at home and abroad as well as the needs and challenges that our current and future clients might be facing. These discussion platforms then serve as starting points for value propositions, strategies aimed at go-to-market activities in a particular sector, the identification of new business opportunities and the determination of specific areas that we would want to include in our profile.
We are nonetheless part of a larger whole; hence we try to actively educate the market and to pass on our broad knowledge by publishing studies, organising conferences and professional seminars, conducting surveys and by regularly informing the media.
Currently, in the Czech Republic we systematically focus on the following sectors:
- financial services (banking and insurance industry, as investment funds)
- manufacturing and industrial companies
- building industry and real estate
- automotive industry
- transportation and logistics
- family businesses
- public administration
An important role in business development is also played by our Korean and Japanese desks. Colleagues from member firms in these countries help us develop relationships with expatriates in the services of foreign investors in the Czech Republic.
We help Czech businesses towards success
Globally, we partner with a number of global corporations that are leaders in their sectors. But our activities are also closely tied to the Czech business environment. We cooperate with many significant Czech entrepreneurs, who are often also the direct owners of their companies. We provide our professional services to non-governmental and non-profit organisations whose effectiveness we aim to increase. Increasingly often, we focus on the development of further perspective areas. As modern technology and innovation continue to play an ever more important role in business, we also concentrate on the support, cooperation and strategic alliances with start-ups and smaller firms that dispose of interesting technologies, e.g. in segments like FinTech or advanced data analysis.