BusinessCompany NewsKPMG goes for German audit chief

KPMG goes for German audit chief

KPMG Europe has appointed a German head of audit, as it outlined its largely Anglo-German management team

The firm, which is merging its UK, German and Swiss outfits to become a £2bn,
20,000-staffed outfit from October, named German board member Dr Joachim
Schindler as its audit chief.

An ICAEW member, Schindler currently heads up audit for KPMG Germany.
Although Schindler will co-ordinate audit for the European firm, Richard
Bennison retains his role as head of audit for the UK and will not report into
Schindler on a day-to-day basis.

Schindler’s appointment will please lobbyists opposed to US accounting
standards. He has previously written in favour of European rules, suggesting
that US GAAP was inferior to international accounting standards.

The board is split roughly across Anglo-German lines, with COO Colin Cook
overseeing the heads of service. Sue Bonney will serve as head of tax and Bernd
Schmid as head of advisory. Schmid will be supported by CEO Alan Buckle.

The firming up of KPMG’s management team came as its incoming head of
performance consulting Aidan Brennan announced an aggressive plan for growth in
the division.

The 300m euros (£210m) business aims to double revenues within three years,
said Brennan, with staff numbers increasing from 1,000 to 1,800.

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