KPMG Consulting Seeks New Name

KMPG Consulting, which broke free from KPMG a year ago and offered its shares to the public as KCIN, is preparing for a name change. Hoping to distance itself even further from Big Five firm KPMG in the current climate that favors auditor/consultant independence, KMPG Consulting is rallying employees and professional branding companies in the search for a new identity.

According to firm spokesman John Schneidawind, KPMG Consulting has intended to change its name ever since it split from the audit firm. Terms of the agreement between the two companies allow KPMG Consulting to use the name KPMG until 2004.

Mr. Schneidawind said that the recent turmoil in the accounting profession has resulted in an acceleration of the name change process. "We want to do it as soon as possible," he said. "We've got to get the message out that we are separate from the tax and audit company… It's more urgent now than it was two or three months ago."

KPMG Consulting chief executive officer Rand Blazer concurs. "The time is now to do this," Mr. Blazer was quoted as saying in a Wall Street Journal article on Wednesday.

In a similar move, Andersen Consulting, which severed its relationship with Big Five firm Andersen last year, changed its name to Accenture. Ernst & Young's consulting arm joined forces with France's Cap Gemini to form Cap Gemini Ernst & Young. Deloitte Consulting, which recently announced plans to split from parent firm Deloitte Touche Tohmatsu is considering a name change. So is PWC Consulting, which announced plans to file an initial public offering this spring.

You may like these other stories...

Here's a CPA who truly walks the walk. On March 15, Frank Ryan, CPA, departed San Diego, California, with plans to be in Ocean City, Maryland, by July 2 to teach a course at the Maryland Association of CPAs’ (MACPA...
When Theodore J. Flynn first joined the Massachusetts Society of CPAs (MSCPA) in 1970, it was a different world and a different profession.  The "Big Eight" were still headquartered in Boston. Vietnam War...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...

Upcoming CPE Webinars

Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.