error
Subscriptions are not available for this site while you are logged into your current account.
close

Loading

The page is loading.

Please wait...

    Loading

    The page is loading.

    Please wait...

    Glossary


    Throughout this site acronyms may be used as abbreviations for organisation 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