Skip to main content
Contact Us
Submit a RFP

      Glossary

      Throughout this site acronyms may be used as abbreviations for organization names, titles, inter-governmental bodies and initiatives, business methodologies etc. This page offers some definitions which you may find helpful:

      ACI

      KPMG established the Audit Committee Institute (ACI) to help audit committee members keep pace with business issues relating to governance, audit, accounting and financial reporting. Since its inception in 1999, KPMG member firms have launched ACIs in 20 countries.

      AMA

      Advanced measurement approach

      AML

      Anti-money laundering

      Audit related services

      Services designed to help clients address specific issues which may relate to major regulatory or reporting changes or to the need for special skills on accounting matters.

      BRIC

      Brazil, Russia, India and China

      CAS

      Capital Adequacy Standard

      CEE

      Central and Eastern Europe

      ELV

      End of Life Vehicles Directive. EU legislation.

      EMA

      Europe, Middle East and Africa region

      ENR

      Energy & Natural Resources. The ENR sector includes oil and gas, power and utilities, mining and forestry industries.

      Enterprise 2.0

      Enterprise social software (E2.0). The use of an entire suite of emergent technologies — wikis, blogs, tagging, and social networking tools — both inside companies and between companies and the outside world.

      ERM

      Enterprise Risk Management frameworks

      Estate agent/realtor

      U.K. usage: estate agent; US usage: realtor. Professionals dealing with the valuation and sale of property.

      EU-ETS

      EU Emissions Trading Scheme. Launched in January 2005 with mandatory GHG (green house gas) emission controls for industrial activities from 1 January 2005. Currently focusing on activities including the production and the manufacture of ferrous metals, pulp and paper, the scope of the scheme is expected to be widened to include other GHG emissions and industrial activities from January 2008.

      Euro I

      Legislative regime that came into effect in 1992.

      Euro IV exhaust emission standards

      EU legislation.

      Euro V

      Legislative regime to come into effect in 2008.

      EVM project management software

      Earned value management project management software. Software that evaluates contractor management.

      FMCG

      Fast moving consumer goods

      Four dimensions of business change, the

      People, processes, technology and risk/control

      FSA

      U.K. Financial Services Authority

      GAPP

      Global Assignment Policies and Practices

      GCC

      Gulf Co-operation Council

      GTMS

      Global Tax Management System. A KPMG proprietary system.

      GTPS

      KPMG Global Transfer Pricing Services practice. A network of KPMG professionals based in KPMG member firms providing transfer pricing services.

      HAZMAT legislation

      Legislation regarding the regulation of hazardous materials.

      IASB

      International Accounting Standards Board

      ICAAP

      Internal Capital Adequacy Assessment Process

      IFIs

      Islamic financial institutions

      IFRS

      International Financial Reporting Standards

      IFSB

      Islamic Financial Services Board

      Interpreter®

      KPMG web-based transfer pricing platform.

      IRR

      Integrated regulatory reporting

      KPMG ENR Tax Masterclass training program

      The Masterclass training program is a cooperative approach to learning. Built around case study workgroups, over the course of two days, the workgroups and the client work together discussing client issues, brainstorming possible solutions, and cultivating a client/KPMG network.

      KPMG Financial Services Global Client Program

      Through the Global Client Program Financial Services coordinates global service delivery, to clients aligning their line of business, functions and regional needs.

      KPMG IFRG

      KPMG International Financial Reporting Group. A single independent unit based in the U.K. providing international financial reporting services.

      MNOs

      Mobile network operators

      OECD

      Organisation for Economic Co-operation and Development

      OEMs

      Original equipment manufacturer(s)

      PFIs

      Private finance initiatives

      PPPs

      Public private partnership

      Prospective reporting

      Where permitted, assisting clients with the preparation, due diligence or attestation required as part of a process to obtain financing.

      REACH

      Registration, Evaluation and Authorization of Chemicals. European Union (EU) directive which came into effect on June 1, 2007 and requires chemical manufacturers and importers in the EU to prove the safety of their products.

      RoHS

      Restriction of Hazardous Substances Directive

      RWCR

      Risk-weighted capital ratio

      SEC

      US Securities and Exchange Commission

      TaxCube

      KPMG proprietary software

      US Basel II

      Known as Basel IA

      WEEE

      Waste Electrical and Electronic Directive