ESG as a watermark at KPMG in India
In the present-day landscape, the world’s challenges are more pressing than ever, affecting both businesses and society profoundly. At KPMG in India, we value the significance of our Purpose - instiling confidence and propelling change particularly crucial in these uncertain times. Trust proves vital for navigating the intricacies of our environment, while accelerated change stands as a cornerstone for forging a sustainable future.
KPMG in India thrives when our team of over 42,000 talented individuals collaborate with clients, partners, and stakeholders from various sectors to tackle challenges. Whether we support businesses, NGOs, governments, or communities, we leverage our expertise, cutting-edge technology, and innovative strategies to foster substantial progress.
In an era where Environmental, Social, and Governance (ESG) considerations shape business landscapes globally, India stands at the forefront of this transformative journey. KPMG in India recognises the pivotal role that ESG plays in driving sustainable growth and is poised to guide clients through this dynamic landscape.
Pillars of effective governance
Effective governance is the backbone of a resilient and sustainable organisation. At KPMG in India, we recognise that robust governance frameworks are critical in fostering transparency, accountability, and integrity. Our governance strategy is built upon four essential pillars: Leadership and Oversight, Quality and Risk Management, Compliance and Ethics, and Data Security and Privacy. Each of these pillars plays a vital role in our commitment to excellence and sustainability.
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Strong leadership and oversight are foundational to effective governance. Our Board of Directors and Leadership Team are committed to setting a clear vision and strategic direction for the firm.
- Board and Leadership Team: We ensure our Board and the Leadership Team is diverse in skills, experiences, and perspectives, fostering innovation, diversity and sound decision-making
- Executive accountability: Clear roles and responsibilities are established for executives, ensuring they are accountable for their actions and the overall performance of the firm
- Strategic planning: Our leadership drives long-term strategic planning, aligning business goals with our ESG commitments and adapting to emerging challenges and opportunities.
We believe that delivering exceptional quality in every engagement is our fundamental responsibility. We ensure that our services consistently meet the highest standards of professional services. We have established an extensive risk management framework to proactively safeguard our business and ensure continuity.
- Quality of work: Our quality monitoring and compliance programmes align seamlessly with KPMG’s global quality benchmarks helping ensure compliance with established standards
- Risk identification and mitigation: Regular assessment of internal and external risks along with implementation of robust controls and strategies to reduce potential adverse impact
- Crisis management: Crisis management plans and drills are regularly tested to ensure preparedness of our response to critical risks.
Adherence to compliance and ethics standards underpins our reputation and operational integrity. We strive to uphold the highest standards of legal and ethical conduct through:
- Regulatory compliance: Helps ensure all our operations comply with relevant laws, regulations, and industry standards locally and globally
- Responsible tax practice: Adhering to principles ensuring that our tax practice is legally validated, transparent to the authorities and mindful of reputational risks and stakeholder impact
- Code of conduct: An extensive code of conduct that outlines our ethical principles and expectations for all employees and partners
- Speak up culture: Providing secure and anonymous channels for reporting unethical behaviour, with strong protections against retaliation.
We are committed to safeguarding the information entrusted to us by our colleagues, clients and stakeholders through stringent data protection measures, including:
- Data governance: Establishing clear policies and procedures for data management, ensuring data integrity and availability
- Cyber security: Implementing advanced cyber security technologies and practices to defend against data breaches and cyber threats
- Privacy practices: Adhering to global and local data privacy regulations and leading practices, helping ensure the confidentiality and rights of our clients and employees.
Our leadership and governance structure
KPMG in India is a member firm of KPMG Global, an organisation of independent member firms affiliated with KPMG International Limited, which acts as the coordinating entity for the overall benefit of the KPMG global network of member firms.
KPMG in India has a robust governance structure guiding its activities, setting policies and managing risks.
As a multi-disciplinary organisation, we recognise that strong and clear leadership is critical to ensuring accountability across the organisation.
Our multi-disciplinary model ensures breadth and expertise for our clients and allows our workforce to develop, grow and prosper. It also gives us the stability and trust that are synonymous with KPMG. Our complementary skillsets enable governments, non-profits and businesses to meet their most important challenges, from cyber security to pandemic response to digitisation.
The Board is a governance body entrusted to ensure adherence to the highest standards of integrity, accountability and transparency within the firm.
The Board is supported by independent external advisors. The sub-committees of the India Board oversee critical aspects of the firm’s financial performance, compensation and benefits, risk and regulatory compliance, and people and culture.
Key responsibilities of the Board include:
- Approving the firm’s strategy
- Protecting and enhancing the KPMG brand and reputation
- Approving significant policy decisions and changes with which the firm and its people must comply.
The Leadership Team (LT) oversees the strategy, performance, people agenda and day-to-day responsibilities of the firm, under the overall steer of the Chief Executive Officer (CEO). The Board and the LT work closely to enhance the positioning and impact of the firm.
Key responsibilities of the LT include:
- Setting growth aspirations, strategy, culture and client centricity
- Defining the operating model and structure
- Owning the annual operating plan, budget and P&L
- Risk management
- Engaging with the India Board on strategy, governance, performance and key risks.
The overall ownership of the OIP lies with the COO and ILT, chaired by the CEO. The LT oversees the strategic direction and development of OIP at KPMG in India.
Led by the Head of Our Impact Plan, the OIP team comprises representatives from different departments who are responsible for managing Environmental, Social and Governance (ESG) issues and driving change under four key pillars:
- Governance
- People
- Planet
- Prosperity
People of KPMG in India
Mohit Bahl
Head of National Risk Management, KPMG in India
Effective governance and comprehensive risk management are integral to KPMG in India's ESG strategy. By integrating risk mitigation into our business practices, we help ensure sustainable development while maintaining high standards of transparency and accountability. Our commitment to proactive risk management equips us to handle the complexities of today's evolving landscape. We are dedicated to fostering a culture of integrity and excellence, ensuring the resilience and prosperity of our business and stakeholders in a sustainable future.
Tapan Goel
Head of Risk Management and Legal, KPMG Global Services (KGS)
As a risk leader, I am proud to be part of an organisation where ethical practices and responsible business conduct are paramount. We have a culture of integrity and accountability, where colleagues are empowered to speak up without the fear of reprisal. This lends strength to our credibility amongst our clients, stakeholders, colleagues as well as the communities we serve.
Download our reports for more detail on KPMG in India activities this year, and in previous years.
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