About KPMG
„KPMG International is a global network of independent companies operating in 153 countries throughout the world. It is staffed by more than 207 000 professionals with multidisciplinary skills and offers audit, tax, and advisory services.“
Our vision and values
We love being part of our clients’ success. We are proud of the KPMG brand and the direction our firm is taking.
We want to be an attractive employer for university graduates, provide excellent services for successful companies and hence become a highly sought-after partner delivering the best services in the field.
Over the years, KPMG staff has created a unique corporate culture that is based on strong values. We are considerate of the environment and provide assistance to a number of organisations as part of our CSR projects.
Our shared values complement each other and help us express what we stand for as a firm and where we are headed. Our values help us make informed decisions, face demanding challenges and discover new opportunities. They make us stand apart from our competition. Our KPMG Story unites and helps us grow and reach our staked out goals – individually, together, and as a global organisation.
Our success as a firm hinges on the exceptionality of our people. We are not afraid of being different. The trust of the public is crucial to us. We want to be the clear choice, both for clients as well as for employees.
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We lead by example
No matter at what position and level, our behaviour sets examples and shows what we expect from others.
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We work together
We bring out the best in each other by creating strong and successful working relationships.
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We respect the individual
Our employees are personalities. We respect their knowledge, skills, and experience.
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We seek facts and provide insights
We challenge assumptions and pursue facts, thereby strengthening our reputation as trusted and objective business advisers.
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We communicate honestly and openly
We share information, insight and advice frequently and constructively and manage tough situations with courage and candour.
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We are committed to our communities
We support educational, environmental and social projects with our expertise and funding.
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We act with integrity and uphold moral and ethical principles
We adhere to the highest professional standards as a basis on which we provide advice to clients.
KPMG in the Czech Republic
KPMG in the Czech Republic has been offering audit, tax and advisory services for 29 years. Founded in 1990 by František Dostálek and Jan Žůrek, it started out with five employees. Within the first wave of privatisations, KPMG conducted the first audits and stood at the inception of the first tax laws in a democratic Czechoslovakia. The firm grew rapidly and expanded, opening additional offices in Brno, Jablonec and České Budějovice. Five years later, KPMG in the Czech Republic employed almost 500 people.
In 2015, the number of employees had reached 900 and the firm reported revenues of over CZK 1,4 billion. Among KPMG’s clients are significant Czech as well as international entities, representatives of the public sector, and non-profit organisations.
KPMG in the Czech Republic as at 30 September 2018
1 148 employees
1 006 professionals
and offices in Prague, Brno, České Budějovice and Ostrava
29 partners
23 statutory auditors
87 certified accountants
105 tax advisors
17 attorney-at-law
54 qualified foreign specialists
In the fiscal year ending 30 September 2018, KPMG in the Czech Republic offered client services through the following four operating entities:
- KPMG Česká republika, s.r.o. („KPMG ČR“, founded in 1990)
- KPMG Česká republika Audit, s.r.o. („KPMG Audit“, founded in roce 1993)
- KPMG Advisory, s.r.o. („KPMG Advisory“, founded in roce 2006)
- KPMG Legal s.r.o., law office („KPMG Legal“, founded in roce 2010)
Apart from these entities, as at 30 September 2019, the Czech Republic was also home to KPMG Czech Republic Holding s. r. o. and a trust fund for the administration of shares in KPMG Česká republika Audit, s. r. o.
The ownership structure
The ownership structure of KPMG in the Czech Republic as at 30 September 2018:
All KPMG companies in the Czech Republic have their registered office in Prague, Pobřežní 648/1a. KPMG ČR and KPMG Audit also have offices in Brno, České Budějovice and Ostrava (for more information, go to).
KPMG offices in Prague
Pobřežní 648/1a
186 00 Praha 8
Tel.: +420 222 123 111
Fax: +420 222 123 100
KPMG offices in Brno
Veveří 3163/111
616 00 Brno
Tel.: +420 541 421 311
Fax: +420 541 421 310
KPMG offices in České Budějovice
Fráni Šrámka 2609
370 04 České Budějovice
Tel.: +420 385 347 175
Fax: +420 385 349 995
KPMG offices in Ostrava
28. října 3117/61
702 00 Ostrava – Moravská Ostrava
Tel.: +420 596 158 200
Fax: +420 596 158 201
Financial indicators
KPMG Czech Republic Holding s. r. o., KPMG Česká republika, s. r. o., KPMG Česká republika Audit, s. r. o., a KPMG Advisory, s. r. o., form one consolidated entity (the “KPMG Group”), which in its statutory consolidated financial statements reported the following financial data:
| in millions of CZK | 31. 12. 2018 |
| Fixed assets | 268 |
| Inventory | 20 |
| Long-term receivables | 2 |
| Short-term receivables including accruals | 330 |
| Cash and cash equivalents | 114 |
| Total assets | 734 |
| Equity | 284 |
| Minority equity | 0 |
| Provisions | 21 |
| Long-term liabilities | 8 |
| Short-term liabilities including accruals | 421 |
| Total liabilities | 734 |
| Revenues | 1 855 |
| Operating profit (loss) | 273 |
| Profit (loss) from ordinary activities | 208 |
Management and organisational structure
Managing partner
The managing partner leads the management committee and makes sure that its members are provided with accurate, timely, and clear information and that their communication and relationships among each other remain effective. In fiscal year 2018, managing partner for all entities of the KPMG global network in the Czech Republic was
JUDr. Ing. Radek Halíček.
Management Committee
The managing body of the firm is the management committee, responsible for the sustainable growth of the entity. The management committee assures the firm’s organisational management, sets the corporate strategy, and watches over its fulfilment, while comparing the firm’s actual results with the entrepreneurial plan. The committee meets regularly at least once a month. It addresses crucial issues regarding the firms' activities, i.e. their operating and financial performance, annual plans, new business activities, issues concerning the development of technologies, human resources, marketing, remuneration, risk management policies as well as the management of projects aimed at the improvement of the firm’s operations. The Managing Partner appoints the individual members of the Management Committee.
The Management Committee has six members. In fiscal year 2018, its composition was as follows:
Partners
Together, the Partners are responsible for the firm’s corporate strategy and for the oversight over its implementation. They regularly review issues of great importance to the firm. These include its operational and financial performance, annual business plans and budgets, new business proposals, marketing, development of new technologies and work methodologies, remuneration and risk management.
Partners in the firm’s individual departments are regularly informed of all decisions of the Management Committee and may comment on them at monthly or bimonthly general partner meetings. Individual decisions are then implemented. The strategies and the mid- as well as long-term objectives of KPMG Czech Republic are discussed and approved at partners’ retreats held twice a year.
Organisational structure
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Audit
- Audit Commercial 1
- Audit Commercial 2
- Audit Commercial Morava
- Audit Financial Services
- Audit Support Group
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Tax and Legal
- Tax Services
- Legal
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Advisory
- Accounting Services Payroll
- Deals
- Management Consulting
- Risk Consulting
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Central
Services- Quality and Risk Management
- Controlling and Internal Processes
- Corporate Social Responsibility
- Data & Internal Projects
- Information Technology
- Internal Accounts
- IT Security
- Knowledge Management
- Markets and Marketing
- Office Administration
- People, Performance and Culture
- Receptionist
- Translators
Services provided by KPMG in the Czech Republic
Audit
„The aim of KPMG’s Audit department is to provide trustworthy and intelligible information about a company’s financial state. Our sector oriented teams utilise our detailed knowledge of industrial sectors and employ data analysis. Our experts specialise in individual entrepreneurial branches, among them the financial sector, real estate, energy, industrial enterprises, retail, the automotive industry as well as telecommunications. During audits, they always take into account the individual sector’s specifics. KPMG also benefits from the work of actuaries, tax advisors, forensic auditors, valuation as well as IT experts.”
Jindřich Vašina Partner in charge of Audit
Tax Advisory services
„On both local and international levels, tax systems are undergoing dynamic and significant changes. The Czech Republic’s largest team of tax advisors keeps abreast of legislative developments, case law, and changes in the tax administrator’s approach. We cooperate closely with the 30 lawyers of our law offices. Thanks to our broad knowledge of accounting and tax legislation and our membership in KPMG’s global network of firms, we are able to offer comprehensive advisory services including a broad scale of specialised services.“
Radek Halíček Partner in charge of Tax and Legal Services
Legal Services
„The rapidly expanding law offices of KPMG Legal focus on corporate law, transaction advisory services, regulatory issues, technology law, labour law issues, public tenders and PPPs, family businesses, succession issues, arbitration, and of course tax litigations. KPMG Legal offers its services to Czech and international clients from all sectors. On a number of projects, it closely cooperates with its expert colleagues from KPMG in the Czech Republic. Apart from traditional services, KPMG Legal also offers specialised legal assistance that is either closely linked with other services that law offices usually do not provide or that requires highly specialised expertise, e.g. in the area of investment funds.“
Radek Halíček Partner in charge of Tax and Legal Services
Advisory services: Management Consulting
„We are able to link knowledge with data and technology. We offer measurable results and provide local expertise with a global perspective. Our team is made up of more than 120 specialists in finance, the energy industry, the public sector, telecommunications, manufacturing companies, sports advisory and other areas. Technological developments are changing traditional business models and companies are faced with geopolitical as well as macroeconomic changes. To remain successful, they must gain and retain a competitive advantage and at the same time deal with the demands of indispensable austerity measures.“
Petr Bučík Partner in charge of Management Consulting
Advisory services: Deals
„We think like an investor would and actively look for acquisition, selling, partnership, and investment opportunities and ways to increase effectiveness. Today’s transactions do not take place in a vacuum. As part of every project, we consider all business aspects, utilise analytical tools and recognise the specifics of the individual business sectors. With a deep knowledge of the local market, we offer impartial advisory and expert services independent from any financing sources. At our side stands KPMG’s entire global network of member firms with the know-how of more than a thousand experts in more than 50 countries.“
Pavel KlimentPartner in charge of Deals
Advisory services: Risk Consulting
„We offer a broad array of services in risk management. Among them are internal audits that can help identify problems and suggest remedial measures. We also advise clients in financial management. We help finance managers react appropriately to the ever-changing demands of the market environment.“
Pavel Kliment Partner in charge of Risk Consulting
Advisory services: Accounting Services & Payroll
„We always adapt our services to the specific needs of our clients, thus helping them lower their business costs. We advise on how to better take care of a company’s bookkeeping and payroll agenda and how to manage one’s business better. We offer financial accounting and management reporting services. Providing outsourcing services, we can take over a company’s entire payroll process, paying out wages and dealing with all connected administrative aspects. While processing a client’s payroll, we are able to tie into their internal processes. We also offer a number of administrative support services, including the processing of payment orders, invoices, statistics reports, and documentation of the processing of travel expenses.“
Michael Cianci Director Accounting Services & Payroll
Client care and the sectors in which we operate
Customer satisfaction
Always aiming to improve customer satisfaction and client relationships, we introduced a new approach to KPMG’s management of customer satisfaction management titled Client Insights.
Clients expect us to continuously question and work on the improvement of our services and business relationships. For us as service providers, it is essential to receive feedback on our cooperation with clients.
Client Insights’ goal is to receive comprehensive feedback from clients on the work that we often times provide across an entire company. Another benefit stemming from the collection of client feedback is the centralisation of data and the adoption of a unified method. For this purpose, we use platforms that allow us to evaluate both individual engagements and our cooperation, subsequently focusing on personal interviews with selected clients by KPMG’s partners.
It is important to point out that we not only receive feedback for concrete individuals but for KPMG as a whole, as every one of us at a certain point engages in interaction with clients. It is essential that the entire firm is perceived as the clients’ business partner offering added value to their entrepreneurial efforts.
The collection of feedback hence now provides us with information that helps us better identify room for improvement in our services so that we can become our clients’ Clear Choice.
“Our people have to see through the eyes of our clients, have the required knowledge and skills and above all need to be disciplined. I am delighted that KPMG has in its ranks a large number of professionals that fit just this description,”
so Petr Bučík, Partner in charge of Sales Management and Customer Care. The creation and maintenance of long-term relationships founded on mutual trust is one of the pillars of KPMG’s business strategy.
Team work and a sectorial market approach
We are able to provide our clients with added value as we share knowledge and experience focused specifically on a given sector of the economy or on the particular needs of a concrete client. Our expert teams meet regularly and discuss sector trends both at home and abroad as well as the needs and challenges that our current and future clients might be facing. These discussion platforms then serve as starting points for value propositions, strategies aimed at go-to-market activities in a particular sector, the identification of new business opportunities and the determination of specific areas that we would want to include in our profile.
We are nonetheless part of a larger whole; hence we try to actively educate the market and to pass on our broad knowledge by publishing studies, organising conferences and professional seminars, conducting surveys, and regularly informing the media.
In the Czech Republic, we systematically focus on the following sectors:
- financial services (banking and insurance industries, as well as investment funds)
- energy
- manufacturing and industrial companies
- building industry and real estate
- retail
- automotive industry
- transportation and logistics
- family businesses
- telecommunications
- public administration.
An important role in business development is also played by our Korean and Japanese desks. Colleagues from member firms in these countries help us develop relationships with expatriates in the services of foreign investors in the Czech Republic.
We help Czech businesses towards success
Globally, we partner with a number of global corporations that are leaders in their sectors. But our activities are also closely tied to the Czech business environment. We cooperate with many significant Czech entrepreneurs, who are often also the direct owners of their companies. We provide our professional services to non-governmental and non-profit organisations whose effectiveness we aim to increase. Increasingly often, we focus on the development of further perspective areas. As modern technology and innovation continue to play an ever more important role in business, we also concentrate on the support, cooperation and strategic alliances with start-ups and smaller firms that dispose of interesting technologies, e.g. in segments like FinTech or advanced data analysis.
KPMG International global network
“KPMG has an unwavering commitment to quality and integrity. It begins with the extraordinary people we recruit and the values we instil in developing professionals committed to meeting our responsibilities to clients, capital markets, regulators, communities, and the public. Our culture of ‘doing the right thing’ means the way we work is just as important as the work itself.”
Bill Thomas chair of KPMG International
The independent member firms of the KPMG network are affiliated with the KPMG International Cooperative (“KPMG International”), a Swiss entity.
Each member firm of the global KPMG network is referred to and identified as a legally independent and separate entity that is independently responsible for its management and the quality of its services. Member firms may use KPMG’s name, brand, and methods, provided they agree to abide by KPMG’s global values.
KPMG International undertakes activities to benefit the global network of KPMG member firms but does not offer professional services to clients. Such services are offered exclusively by KPMG member firms.
One of the most important goals of KPMG International is to assist member firms in providing audit, tax and advisory services on a consistently high level of quality. KPMG International e.g. sets and assists in the implementation and adherence to uniform rules and standards in the functioning of independent member firms.
KPMG International ensures that internal rules and standards are the same in all member firms and serve the common brand, thus contributing to the sustainability of the group as a whole.
All member firm are obliged to adhere to KPMG’s corporate policy and rules pertaining to quality standards.
This structure built upon member firms strengthens KPMG International's global strategy, ensures that its values are adhered to and that the standard of services throughout all global markets remains the same. This approach allows for the continuous sharing of knowledge and expertise among professionals throughout the global network.
You can read more about KPMG’s global activities in the annual report for 2018, available for download here.