On Thursday 30/7 we visited KPMG the global accounting firm. We had 3 presenters discuss some very interesting and relevant topics. First we heard from Andrew who gave the group a brief overview of the global KPMG business model and the history of the firm in China. KPMG have been operating in China since 1986 and have seen first hand the rise of China as an economic force. Paul has a wealth of knowledge in emerging markets and provided invaluable information.
We then heard from Chi on KPMG's corporate social responsibility (CSR) strategy and the importance the firm places on it. Chi informed us that Chinese consumers consider CSR as a key component of their decision making process, this was somewhat surprising but pleasing. CSR is very topical at present in China as a result of the recent earthquake and Chi shared with us KPMG's involvement and financial commitment to the relief efforts.
We then heard from Mark an Australian expat working in the forensic services division of KPMG. Mark discussed the services offered to clients in fraud prevention and investigation. It was extremely interesting to get an understanding of the different types of fraud that exist and the technologies that are adopted to steam such activities. Mark provided some key information that firms must consider when entering and operating in China from a risk perspective.
KPMG also invited the group along to a cocktail party they were hosting that evening for local clients and business. The evening was held to discuss a recent report they published in conjunction with a local market research firm TNS on luxury brands in China. The report looked at Chinese consumers brand recognition and decision making considerations. The event provided an excellent opportunity to network and discuss not only China but business in general.
KPMG were extremely accommodating and provided a broad and interesting perspective on China. KPMG are a very professional organisation willing to support education and we thank them sincerely for their time and effort.
