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International Development Services: Professional Services for the Developing World


The Developing World Public Sector Reform and Performance Improvement Private Sector Development Audit and Assurance Services Program and Project Services KPMG at a Glance 1 3 5 7 9 11 2 Professional Services for the Developing World . and alliances of KPMG International. KPMG brings a compelling combination of practical knowledge. technical know-how. Through its membership in the strong network of international consultants. and passionate commitment to reform-minded governments and other development players throughout the world. associates.Table of Contents KPMG is uniquely placed to coordinate its service provision drawing upon a diverse pool of resources and personnel with broad technical and sectoral experience in the fields of development and public sector reform.

the Middle East. economic. and international development funds is clearly great. governance. Despite these uncertainties and the heavy burden that has been placed on governments. Eradicating extreme poverty and hunger Achieving universal primary education Promoting gender equality and empowering women Reducing child mortality Improving maternal health Combating HIV/AIDS. and the communities we serve—within KPMG we do this through our International Development Services practice. China. some countries such as Rwanda. civil society. our understanding of local development agendas and needs. tuberculosis. and lack of access to international ” markets. With specialists in the provision of world class institutional and human capacity strengthening. whether in Africa or elsewhere. We at KPMG have a role to play. the world made a clear commitment to act. and local communities. With local experience in every country in the developing world. 3. inadequate infrastructure. low agricultural productivity. KPMG has been bringing international and local experience to bear upon development programs and projects across the globe. these countries face additional problems such as environmental degradation. the private sector. The Developing World Supporting a new chapter of development in the 21st Century The developing world faces a number of critical challenges as it moves into the 21st Century: strengthening the capacity of people to design and deliver development policies. The need to enhance the effectiveness and efficiency of national. agreeing specific deadlines for reducing poverty and promoting human development. and Tanzania have made rapid strides in development and are emerging as examples of what can be achieved in the face of adverse conditions. and the high volatility of global financial markets. and HIV. Botswana. 6. or MDGs. and civil society has served to demonstrate the importance of professional advisory • Program and Project Management 4. poor implementation of the rule of law. and other diseases Ensuring environmental stability Developing a global partnership for development A renewed sense of urgency for solving these challenges has also been demonstrated by many governments. much remains to be done. and our extensive global experience. 1 Professional Services for the Developing World Professional Services for the Developing World 2 . However. “brain drain. Asia. in the UN Millennium Development Goals. the drive towards energy self-sufficiency in Brazil has inspired other countries to seek similar or alternative. our access to KPMG International’s network of member firms and to some of the world’s premier development advisors. terrorism. building the capacity of states and societies to prevent and manage conflict. providing universal access to education. high debt service. and cultural barriers have fallen and countries are moving towards integrating their economies via a clear strategy established for them to join the European Union. momentum has catapulted them into a new phase of development that is providing opportunities in the region and across the world. the private sector. However. are poised for new opportunities in a world where energy and mineral resources are increasingly scarce. we are committed to providing professional services that meet the real needs of the developing world. KPMG has been a vital partner to sovereign governments. building systems to deliver public health services to battle diseases such as TB. increases in energy prices and commodities. Others. poor health and education. 7. 8. weak investment climates. unchecked population growth. innovative ways to address their own energy needs using local resources. and obtaining fair access to markets. and inequitable distribution of resources in the face of widespread poverty. creating conducive business enabling environments for investment to spur economic growth. and Eastern Europe. we provide the development community and public sector with flexible and responsive professional services to meet the evolving needs of the ever-changing and dynamic developing world. In Eastern Europe. endowed with rich. physical. For decades. KPMG’s in-depth knowledge of local political and commercial environments. improving the internal capacity to trade. ecosystem mismanagement. These issues will continue to challenge the world at large and demand its attention and support. In Asia. enhancing the accountability of states towards their citizens. civil society. the private sector. development partners. Facing the challenge of development The causes of low levels of development are well known: weak governance. These challenges continue to demand attention as emerging global problems pose new threats to the developing world such as climate change. These goals have served to rejuvenate and focus development efforts across the globe and comprise the following: 1. civil conflict. the Americas. undeveloped natural resources. Our long and successful involvement with governments. and India. regional. Indeed some large and small developing countries have shown that there is a “fast track” in the developing world. With our strong local and international relationships with development partners. program and financial management. in Africa. development partners. recent reviews of the progress towards the Millennium Development Goals indicate that while progress is being made. capital flight.Our professional services for development cover four major areas: • Public Sector Reform and Performance Improvement • Private Sector Development • Audit and Assurance At the United Nations Millennium Summit. our people. malaria. notably in Africa. and its development partners. and economic growth in many of the world’s developing countries. corruption. there have been marked improvements in the spread of democracy. 5. overdependence on primary commodities. services in helping to ensure the effective and efficient delivery of national and international development funding. 2. KPMG’s development and public sector services aim to turn knowledge into value for the benefit of our clients and their stakeholders. Finally. In Latin America. KPMG is one of the most experienced providers of professional services to the public and development sectors in Africa. and audit services.

The fact that many organizations ask us to help them in implementing our recommendations is testament to the success of our approach. on the other hand. management and staff. assisting its governors and managers in defining its objectives and activities. donors. help strengthen the capacity of these organizations’ finance functions to ensure that funds are managed in an efficient. NGOs. attention than ensuring good governance. civil society organizations. or function. and to reinforce and redeploy staff to help maximize their human potential. sector. data management. and performance systems. KPMG has developed a practical and robust approach to strategic planning. including procurement. which is designed to deliver improved organizational performance by defining a clear and informed strategic direction for an organization that will be shared by those charged with implementing it. we define “strategy” as an organization’s response to opportunities. Good governance is directly proportional to the success of institutions in achieving their missions. We firmly believe that institutional assessments that are aimed at strengthening capacity are most successful when they are undertaken in a highly collaborative environment. that they are based on policy. KPMG is committed to improving the quality of governance by assisting governments to develop a clear picture of existing service delivery capacity against appropriate benchmarks. For example. record-keeping. approach involves facilitating a process of strategic analysis of an organization’s operating environment and internal capabilities. and efficient service delivery. that they are comprehensive Monitoring and Evaluation KPMG has a broad depth of experience in developing. and about how to manage an organization’s governance as it moves through different stages of the organizational life cycle—all with a view to greater public accountability. Institutional Assessments KPMG offers a range of institutional assessments of public institutions. and development programs and projects. KPMG’s public financial management services support governments to help ensure that realistic and credible budgets are set. For example. and accountable. and threats in relation to its resources and competencies— its ability to apply its internal capabilities to achieving objectives in the context of its external environment. processes. be they governments. and transparent manner. Our financial management services include the development of financial policies and procedures. to develop a clear understanding of the environment in which they will be achieved. implementing. And for stakeholders from an KPMG worked closely with the Government organizations open and independent of Kenya to facilitate the development of with specific perspective. to help them define the results they wish to influence or achieve. and the effectiveness of its programs in terms of service delivery on the ground. experience and client as part of the government’s Civil Service our Executive base provides us with Reform Program. can evaluate an existing or proposed M&E plan. HR policies and procedures. or communities. Policy Advice. and the secondment of finance specialists to organizations. A key lesson that has been learned by the development community over the last few decades is that investments in institution-building are fundamental to sustainable change as well as transparency and accountability. data systems. Selection Services the ability to determine we employed our rigorous Public Strategic provide recruitment and disseminate Planning Methodology to ensure that the services for “leading practices” plans were driven by thorough research and sourcing managerial across the development consensus was built across stakeholders. motivating. As part of this strategic process. good financial management supports aggregate fiscal discipline. Indeed. and assessing M&E systems and plans. We provide specialist knowledge to assess the M&E system for its appropriateness and feasibility with regard to the capacity of the implementing partners to monitor and evaluate the indicators. and the fulfillment of the objectives and goals of the project. Through a systematic series of skills audits and competency profiles. In the public sector. KPMG can help organizations to identify weaknesses in their skills and knowledge bases. we can help an organization to design tools to measure the implementation of its plans against established targets. In the context of capacity building and human resource development in developing countries. we can review an M&E work plan for the term of project in order to determine whether the plan is reasonable and feasible. responsive. Good policies are usually the result of broad We provide tailor-made workshops for consultation between stakeholders. job evaluation. These reviews are a natural first step in efforts to improve the capacity of any development initiative—from a large donor program to stand-alone NGOs and CBOs—where it is suspected that the results are not commensurate with the time and money being spent or there are operational inefficiencies. We help understand the implications of policy options and offer practical methodologies to deliver planned results within available budgets. In civil society organizations. We design training programs that fit current and future human resource requirements. Our global strategic plans for four government ministries recruitment needs. Policy Advice. Our human resource tools and guidance. through its experienced and widely recognized M&E specialists. in order to identify any limitations and to make recommendations to rectify them and thereby strengthen capacity. Such a review examines both the efficiency of an organization or program’s structures. strengthening institutional governance ranks as a high priority in ensuring institutional sustainability. and Strategic Planning Governance There are very few development challenges today that deserve more Human Resource Management and Training KPMG offers a comprehensive package of human resource services and training solutions to help public and private development players to implement proactive approaches for attracting. and reporting is sound. and identify opportunities to improve the long-term viability of the organization. and retaining bright. dedicated employees. challenges. In this important work. We provide advice to institutions about how to structure their governance arrangements. about how to define appropriate roles and responsibilities. comparative pay and benefits studies. that there is predictability and control in budget execution. Our financial management services for civil society organizations. that accounting. analysis of departmental competencies and capabilities. KPMG organizations with has proven experience specific training in engaging global KENYA needs. system. KPMG. and executive community and public experience. from strategic staff reviews. Strategic Planning Services At KPMG. Our approach includes M&E personnel experienced both in developing and implementing M&E plans as well as later evaluation of the effective implementation of the plan during follow-up assessments. and to detail a strategic action plan that will lead—clearly and resolutely—to their achievement. Our recognized specialization in public financial management and our knowledge of sector-specific monitoring and evaluation (M&E) systems help build transparent and effective government institutions. 3 Professional Services for the Developing World Professional Services for the Developing World 4 . and Strategic Planning • Human Resource Management and Training • Public and Nonprofit Financial Management • Monitoring and Evaluation Public Sector Reform and Performance Improvement Sustained economic and social development is difficult without the presence of a strong public sector. Our strategic planning services are tailored to specific development players. effective. overcoming poverty in the developing world requires capable. and developing a suitable action plan to help ensure their implementation. We offer a broad range of Public and Nonprofit Financial Management Services There is wide agreement that effective institutions and systems of public and nonprofit financial management have a critical role to play in poverty reduction.KPMG’s wide range of public sector reform services include: • Institutional Assessments • Governance. and accountable government institutions that can effectively contribute towards economic and social development. KPMG has provided audit and advisory services to nearly all governments in Africa and we understand the many challenges faced by the public sector. the strategic allocation of resources. KPMG can undertake a comprehensive review of many aspects and functions of any institution or development program or project. reviews of internal controls. Governance. good financial management enhances the ability of an organization to ensure effective and efficient service delivery and to help build long-term sustainability. and that finance functions are open to scrutiny and external audit.

both local and foreign. Providing these services has enhanced our understanding of economic bottlenecks and given us a good perspective on the development issues that keenly affect the private sector. Energy. energy. procurement systems. and debt advisory services for existing infrastructure and energy projects. entrepreneurial styles. Using our experience with all business sectors and organizations of all sizes and at all stages of the business cycle. From this point of view. credit granting. Web site design and management. SUB-SAHARAN AFRICA The Africa Enterprise Challenge Fund is a US$50–100m private sector fund that focuses on the agribusiness sector. We employ KPMG Centers of Excellence established across the globe to monitor and respond to regulatory and other issues specific to these sectors on behalf of our clients. Serbia. This new Fund encourages new agriculture private sector agriculture projects on the basis of fair and transparent competition. value chains. risk management. Its role includes receiving applications. as well as the full range of corporate finance services. we have assisted thousands of small and medium enterprises (SMEs) with improving profits through better management and marketing practices and increasing the quality of their products and services through government and industry sponsored linkage programs. audited the performance of both public and private financial institutions. business valuations. Our recommendations. financial viability analysis and projections. By creating an economic profile for a community. This helps us in assisting the private sector and governments to come together in meaningful public-private partnerships that deliver development and profits simultaneously. evaluation and recovery. It means seeking innovative as well as established ways of strengthening business management and increasing strategic and operational performance. Capital transaction services include due diligence assessments for new projects and joint ventures. In addition. business processes. and action plans. and strengthened the governance and operational capacities of central banks throughout the developing world. and advisory services to the banking and insurance industries are well established. restructuring advice. the rule of law. financial and economic forecasting. and researching markets. • Financial Sector Development • Local and Regional Economic Development • Infrastructure. project finance support. as well as business valuations. and monitor and evaluate local economic development (LED) strategies in a range of rural and urban settings. and Natural Resources Aside from being a leading provider of services to the infrastructure. and employment and thereby reducing poverty in a sustainable manner. as well as reporting to the Governing Council and Investment Committee. development institutions. supply chains. mergers and acquisitions support services.Our private sector development services include: • Business Performance Services Private Sector Development What matters for the developing world is growth. THE BALKANS KPMG provide a wide range of services to banks across the Balkans. KPMG has conducted reviews of the effectiveness and efficiency of the internal control systems of a number of banks in Bulgaria assisting them to establish up-to-date and modern procedures. Audit. screening them. development cannot be achieved without an active role being played by the private sector. objectives. analyzing. in providing the necessary investments. energy. institutions. and implementation of microcredit programs. a comprehensive LED strategy was developed that encompasses goals. businesses. Financial Sector Development KPMG provides a range of services to financial sectors across the globe. we provide technical and policy support to governments and central banks in many countries. We have helped to develop microfinance legislation and have strong skills in depository systems. However. Using our industry experience. implement. For example. we also provide specialized services such as actuarial advice. tax. and nationally that strengthen the private sector and improve its competitiveness. we have assisted governments at various levels to design as well as implement reforms locally. We grew into the additional role of helping our private sector clients to develop and implement strategies that make their businesses more profitable. financial management systems. are informed and practical and supported by real-world examples. Albania. KPMG acts as “Fund Manager” working with other consultants and procurement specialists to ensure the fund operates smoothly. KPMG also provides transaction services to corporations. and Natural Resources Services Business Performance Services At KPMG. including due diligence engagements for banks in Bulgaria. Investment by the private sector is only possible in an environment that includes peace. KPMG has advised governments on microfinance legislation as well as advised private funding entities on microcredit and microfinance initiatives. We are able to use our wide public and private client base to identify stakeholders including key people. multinationals. We have also assisted in the design and implementation of sectoral and regional economic promotion strategies and have specific and valuable skills in the infrastructure. Local and Regional Economic Development Many governments employ KPMG to assist at the local and regional level to design. regionally. Professional Services for the Developing World 6 5 Professional Services for the Developing World . and other groups that have interests in the local or regional economy. we are able to tailor our guidance to fit any organization in any sector of operation. production technologies. communities. business performance improvement means using leading practice methodologies for measuring performance. specifically targeting people living in rural areas. We are continuously examining. and Macedonia. while employing leading practices. and a business enabling environment or investment climate that is conducive to growth. Infrastructure. and natural resources sectors throughout the world. growth that benefits the whole economy generally but the poor in particular. growth. and governments in these sectors. and organization structures across the length and breadth of private sector enterprises in both the developing and the developed world. Accordingly. In addition. projects. and natural resources sectors. therefore. KPMG began its practice on the basis of providing advice to private sector clients on how to comply with local regulations and tax laws. Energy.

KPMG has undertaken audits for development programs funded by all the major donors operating throughout the world. and supplementary nutrition for children suffering from HIV/AIDS. including the need to ensure that the grantees have adequate capacity to absorb the funds and that the funds will be used effectively for their intended purposes. and potential losses and frauds prevented— not merely detected after the fact. from their auditing strategies. the establishment of internal audit bodies and functions.KPMG’s audit and assurance services include: • External Audit Services • Internal Audit Services • Pre-grant Evaluations • Commodity Tracking and Audits Pre-grant Evaluations Funding agencies and donors frequently require the performance of pre-award surveys for a variety of reasons. KPMG has developed templates that assist in the process of conducting pre-award surveys. 7 Professional Services for the Developing World Professional Services for the Developing World 8 . it is imperative that governments. and distribution. LATIN AMERICA KPMG has carried out a specific financial audit on the funds provided by the International Development Association and administered by 43 Mayoralties and the INIFOM Regional Offices in Latin America. NGOs. KPMG brings the full weight of professionalism. Our internal audit services examine every aspect of an organization’s management and operations. we check that reports are properly prepared and submitted. and credit agreement terms. that any losses are properly reported. and making recommendations to clients for improving their financial systems. The work was performed to assist the rural municipalities to overcome emergency problems caused by Hurricane Mitch. presentation. governance. our Pre-Grant Evaluations. Additionally. as it serves to offer tax-payers and funding organizations the comfort that their tax revenue or investment funds are well-spent. while being flexible enough to help ensure that our professionals are not tied down to mechanical “form-filling” processes. independence. that proper storage facilities exist. With each donor having very specific—and often very stringent—reporting requirements. software programs. opportunities realized. or PGEs. Our auditors will carefully examine the internal operations of an organization or development program before recommending what auditing structures and systems would best suit their needs. that commodities unfit for consumption are appropriately disposed. and internal audit outsourcing. and supplies have been appropriately distributed. and integrity to the monitoring and assessment of development and public sector programs. These templates are sufficiently comprehensive to help ensure that no aspect of an assignment is overlooked. as well as audits of the compliance with internal controls. and possesses a strong level of understanding of their individual reporting needs. in accordance with the terms of the grant and in compliance with the requirements of laws and regulations of the grantor’s and grantee’s country. As part of this service. A KPMG internal audit can cover risk assessments and financial controls. Over the years. shipment. and compliance with donor requirements. medicines. KPMG has developed a widely recognized auditing methodology that we believe defines current leading practices. KPMG’s auditing service covers the three main elements of a reputable international audit: • Reviews of accounts and financial statements • Compliance with donor regulations and accounting principles • Checks of internal controls We also verify an organization’s assets and liabilities. Internal Audit Services A KPMG internal audit is vital for organizations involved in development to assure their managers and stakeholders that business risks are being effectively controlled. and reporting systems. This included physical inspection of civil work subprojects. and that all goods are received by their rightful beneficiaries. and other development partners meet these requirements through timely and accurate financial reporting. External Audit Services With more than a century of experience as one of the world’s leading audit providers. following a risk-based approach to identify the key processes and risks involved in any development or public sector initiative. that adequate accounting is maintained over all storage. and personnel to financial controls. and will then revisit them to review the effectiveness of the structures established. include many useful components such as: • Budget benchmarking • Human resource assessments • Governance and collaboration analysis • Subgrantee evaluation • Procurement and supply chain analysis • Program management capacity • Financial management systems review INDIA An international foundation launched an initiative in the Indian state of Maharashtra to increase access to antiretroviral treatment. pediatric care. KPMG’s Internal Audit Services are not just a one-off service but also a long-term auditing process that will encourage future financial transparency and business results. KPMG visited 10 NGOs implementing this program and evaluated their financial and program management and reported their findings and recommendations to the foundation thereby assisting the initiative to assess its impact and gain an independent view on how operations could be made more efficient and effective in India. processes. information management and security. which are generally considered the leading practice in the funding sector. Audit and Assurance Services Ensuring that development funds are expended transparently is critical to enhancing the process of delivering development aid. operation guidelines. Commodity Tracking and Audits The final suite of services under Audit and Assurance Services includes providing audit services to donors to ensure that commodities such as emergency food aid.

9 Professional Services for the Developing World Professional Services for the Developing World 10 . KPMG has been acting as a broad-based fund manager and intermediary for channeling funds between major donors and governments. economic. KPMG works closely with Government to enhance its capacity for financial management and procurement. Monitoring and Evaluation In addition to the traditional data gathering and measurement that accompany any monitoring or evaluation exercise. KPMG assists governments. broad range of experience enables us to offer stakeholders a full range of additional support services. procurement. drawing up activity plans. Law and Order Sector (GJLOS) reform program in Kenya. This provides fiduciary assurance to administrators of large trust funds and providers of general budget support. GJLOS is a basket donor-funded sector-wide reform program. source vehicles and services. customer service delivery surveys for the public sector. and account for the financial resources. from advice and training on accounting procedures and financial reporting. civil society. and sustainable exit strategies. Our primary role is to receive funds. from overall program strategies to individual project requirements. and a barrage of financial and bureaucratic hurdles resulting in unnecessary delays. and follow-up required.Our program and project services include: • Fund Management • Program Research and Design • Program and Project Management Services Program and Project Services The contracting of experienced professional services firms to manage development programs and projects is widely recognized and practiced as an effective. the initiation of financial controls. KPMG’s Program Research and Design Services With our access to some of the world’s leading development thinkers and institutions. supplemental nutritional support. from initial planning and budgeting to the tendering and selection of contractors. In this role. KPMG’s role in validating beneficiaries’ accounts—and building their capacity to meet the donors’ own reporting requirements—can mean the difference between a smooth flow of funds and rapid implementation. from infrastructure and social service projects to major public sector reform programs. cultures. KPMG also provides monitoring services to development partners by reviewing public financial management systems of recipient countries. The methodology covers the entire project management spectrum. and identify potential funding partners and implementing agencies. • Monitoring and Evaluation Fund Management KPMG’s financial management experience makes us a strong partner to manage funds for development partners. As well as lengthy experience in the use of more popular M&E methodologies and log frames. By managing the day-to-day running of a project or program. from one-off projects to long-term portfolios of interrelated projects. define likely resource requirements. In addition to assessing the implementing partner prior to funding. procure goods and services on behalf of implementing Ministries. NGOs. KPMG is providing program and fund management agency. KPMG’s long experience and global reach enable us to design complete programs of support. KPMG helps to identify how to best engage partners. social. For donors. For several years. INDIA An international foundation implemented a national child food and health program in India to assist more than 10. effective services at every major stage in the program management cycle. and legislative conditions—and the primary issues that will need to be overcome—in order to help ensure results and sustainability of proposed and ongoing programs and projects. Departments. to liaising with external auditors. for example. Justice. and program design. disburse salaries and other expenses. KPMG places strong emphasis on developing systems and mechanisms for using performance information to enhance the effectiveness of a development program and its individual components. KPMG also supplied the foundation with financial and health specialists who conducted a detailed and sensitive review of the financial operations and program implementation. political. Our Project Management Methodology (PMM) has been used to manage all types of development initiatives. identify/address potential hurdles. Program and Project Management Services KPMG is well placed to assist governments and development partners to manage all types of development initiatives. and financial management services to the Governance. KPMG’s reviews helped the organization gain an independent assessment of its program and consider how to better implement it. initiate financial systems and controls. including. set realistic objectives. In contrast to some fund managers that merely hold and disburse funds. KPMG has access to a range of specialists with experience in developing and applying specific. By undertaking a detailed investigation of a specific sector. Our knowledge of the very different conditions. planning. communities. tailor-made M&E solutions. KPMG frees a client to focus on more strategic and policy level issues. efficient. and other beneficiary groups. civil society and development partners in researching and designing programs that meet the specific development KENYA objectives of the host region and agenda of the development partner. and monitor the training of local staff. KPMG can establish a project headquarters and field offices. and to help ensure that these programs deliver the greatest possible benefit to whom they are targeted. and Agencies.000 rural and urban based children to receive comprehensive pediatric care and treatment by linking them to antiretroviral treatment (ART) centers and providing the drugs. This means working with managers to develop methods through which the lessons from M&E systems are fed back into the processes of policy formulation. and transparent means to deliver development aid. monitoring. Our program and project services are designed to offer development partners superior. make payments for procured goods and services. and procuring significant assets. determine likely outcomes. safe in the knowledge that their program is in the hands of highly qualified professionals. As well as appointing a management team or program implementation unit. psychosocial support. and practices in different countries enables us to provide detailed information on the prevailing geographical.

With approximately 137 . 11 Professional Services for the Developing World Professional Services for the Developing World 12 .000 clients including 1. tax. KPMG enjoys a particularly successful track record in supporting public sector reforms and capacity building among the governments of Africa. KPMG has access to the right knowledge and skills to assist organizations working in developing and emerging countries to understand complex issues and implement their projects smoothly.KPMG at a Glance Professional Advisors in the Developing World In the rapidly changing global business environment. and to share skills and information between similar projects in almost every corner of the globe. KPMG International stands tall as one of the most connected and committed networks of professional advisory firms.000 employees providing audit.400 of the world’s 6. and experience in virtually every country on the planet. enabling our clients across the globe to stay abreast of the latest development methodologies and industry trends. and advisory services to more than 180. Eastern Europe. KPMG is supported by the very latest in information technology and leading practice knowledge. the Middle East. and the communities we serve. KPMG’s services aim to turn knowledge into value for our clients. Asia. With offices in almost every developing and developed country in the world. information. and the Americas. our people. and resources to bear upon challenges in the increasingly dynamic public and development sectors of the world. KPMG is in a position to bring global skills. Our global coverage and connectivity enables us to draw upon a rich variety of experiences and practices around the world.000 largest organizations.

a Swiss cooperative. Global Chair +1 212 872 5955 49405NYO .com United Kingdom Marianne Fallon +1 212 954 5689 mgfallon@kpmg. there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the Africa Julio Garrido-Mirapeix +258 21355200 Deputy Chair +254 (20) 2806307 Due to independence Latin America Alfredo Antonio Artiles Mendieta +505 254 8116 aartiles@kpmg. not all the services described herein may be available to KPMG audit clients and not all services can be provided by all member United States Timothy A. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or Eastern Europe Iva Todorova +359 (2) 9697 650 No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties. All rights European Union Uwe Riedel + 49 221 2073-6340 East Asia Mark Jerome +84 4 3946 1600 jeromemark@kpmg. Western Europe Mercedes Sanchez Varela +32 (0) 27084349 msanchezvarela@kpmg. Member firms of the KPMG network of independent firms are affiliated with KPMG International. Although we endeavor to provide accurate and timely information. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. © 2009 KPMG International is a Swiss CoNTACT US East Africa Charles Appleton International Development Central and Western Europe Michel Heiniger +41 22 704 17 54 Asia Arvind Mahajan +91 (22) 3983 6206 Email: arvindmahajan@kpmg. nor does KPMG International have any such authority to obligate or bind any member firm. Stiles International Development Services. KPMG International provides no client services. KPMG and the KPMG logo are registered trademarks of KPMG International.

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