Jiri Diepolt, Jiri Medricky and Judita Rihova have become new senior managers in the Audit Financial Services department of KPMG Czech Republic.

KPMG Czech Republic is pleased to announce several key appointments and promotions recently made to the management and team of its Forensics service line. These appointments will bolster its team of dedicated Forensic professionals offering investigation, dispute advisory and regulatory services throughout the region.

Zbynek Hojsák and Pavel Kliment have become new senior managers in the Audit department of KPMG Czech Republic.

Tax rates on corporate profits have continued their long decline in the past year, but governments worldwide are increasingly looking to taxes on goods and services to make up shortfalls in public revenues, with profound effects on business. This is the main conclusion of KPMG International’s latest survey which covers 106 countries, including the 30 member countries of the OECD, the 27 EU countries, 20 countries in the Asia Pacific Region and 20 countries in the Latin America Region. (The press release is available only in Czech). Download

KPMG Czech Republic has been strengthened by the appointment of new partners. Karel Charvát and Jindrich Vašina have been appointed new partners in the Audit department, while Jan Linhart has been appointed partner in the Tax Services department.

For the second year running KPMG’s Global Insurance practice was awarded Best Accounting Firm of the Year at the Reactions’ Global Awards Dinner ceremony in New York on August 26, 2008. Once a year Reactions, the leading monthly insurance magazine, poll their readers to assess which organizations, deals, initiatives and industry figures are performing ahead of the competition and are the leaders in the industry.

Further reductions likely to occur in levels of both deal value and volume, with KPMG’s forward looking corporate valuations down 10 percent compared to six months ago. For the first time since it began, KPMG’s Predictor shows a decrease in both ‘appetite’ (forward valuations) and ‘capacity’ (estimated net debt to EBITDA) for M&A activity (see fig. 1). Previous pockets of regional resistance likely to give way to broad-based fall in deals across all regions and sectors.

The increasing importance of the economies of China, India, Russia and Brazil (BRIC), and widespread economic concerns in Europe and the U.S., suggest that we may now be beginning a new phase in global economic development. Companies need to ask whether the global business game is changing, and whether we know the new rules. (The press release is available only in Czech). Download

Our 2008 survey Embracing Change? Global Construction Survey 2008 examines the four key areas impacting the industry: resource shortages, risk management, escalating costs and sustainability. (The press release is available only in Czech). Download

The spring 2008 KPMG Business Outlook Survey, which surveys around 2,800 service sector firms across the EU, found confidence in future business activity, revenues, new business, profits, employment and capital expenditure all sank to new survey lows (the EU Business Outlook Survey for services started in April 2006). (The press release is available only in Czech). Download