KPMG in the Crown Dependencies
In 2021, the KPMG firms in the Channel Islands and the Isle of Man announced the merger of their businesses to form a single practice operating across the Crown Dependencies. This created a professional services business of 430 people, locally owned and dedicated to serving the key industry sectors across the three islands.
The combined practice now forms a core part of the KPMG Islands Group, made up of International Financial Centres and Overseas Territories spanning a sub-region which extends from Malta to the Caribbean. This grouping works closely with other KPMG practices in major global financial centres such as London & New York, ensuring that clients can benefit from an optimal blend of local and global expertise from KPMG’s network.
KPMG in the Channel Islands
The Guernsey firm is the oldest firm in the Island and originates back to the 1890s. Black, Geoghegan & Till’s presence in Guernsey dates back to the 19th Century; however, it was not until the mid-1920’s that the late Harry Broughton was appointed as the first permanent, resident, local representative. Harry Broughton was the only practising accountant in the Island during Guernsey’s occupation by the German forces in the Second World War.
Following the Liberation of Guernsey in 1945, the firm was in a prime position and still continues to be so, by being amongst the leading firms in the Island.
In 1972, Peat Marwick Mitchell & Co. became associated with Black, Geoghegan & Till. The Jersey office was opened in 1973 and, in 1981, the Channel Islands firm became a full member of Peat Marwick International. In 1987, following the international merger of KPMG, the firm continued as KPMG, the Channel Islands member firm.
KPMG in the Isle of Man
KPMG first opened an office in the Isle of Man in 1978, largely to meet the needs of KPMG clients establishing new businesses on the Island. The business grew steadily until the first resident partner was appointed in 1981. Following further steady progress, and reflecting the growth in the Isle of Man’s financial services sector, KPMG Isle of Man merged with J G Fargher & Co in 1986, creating a firm of over 30 professionals and, over the following years, became established as one of the Island’s leading audit and accounting firms.
Together with other KPMG member firms around the world, in 1999 the fiduciary services practice was separated from the audit and accounting firm, leaving the firm to concentrate on the provision of audit, taxation and advisory services.
In 2002, as part of a global KPMG programme, KPMG in the Isle of Man became part of The Offshore Group, a sub-region of KPMG comprising 19 other international financial services centres, and in 2003, the business of KPMG in the Isle of Man was restructured within two LLCs – KPMG LLC and KPMG Audit LLC.
In 2008, KPMG LLC incorporated a new firm, KPMG Limited, in Gibraltar which has since grown rapidly and, for administrative purposes, is closely linked to the operations of KPMG in the Isle of Man.
With almost 100 directors, associate directors, managers and staff, KPMG in the Isle of Man now provides audit, tax, advisory services to a wide range of clients and continues to play an important part in the development and growth of the Isle of Man.
The history of KPMG
For more information about the history of KPMG, visit the KPMG International website.