KPMG SCORES FRONT ROW AT 2018 GAMES

KPMG has thrown its corporate weight behind the 2018 Commonwealth Games in a deal that will see the accounting group assist in both the lead-up and the dismantling of the event.

KPMG has signed up as a tier-two sponsor of the event on the Gold Coast through which it will offer Games organiser GOLDOC a broad range of professional services as its staff numbers ramp up in earnest over the next two years.

"In the last six months we've gone from 50 to 60 staff to 160,"says Mark Peters (pictured left), the CEO of GOLDOC.

"In the middle of next year we'll be around 260 odd and then we'll blossom out to 1600 at Games time.

"It's in these last two-and-a-half years that we need to bring the expertise and we need to have people working with us who bring those skillsets to the table."

Financial details of the sponsorship remain under wraps, although KPMG's commitment includes assistance in all aspects of taxation, financial planning, internal audit, workforce and procurement for the Games.

KPMG and its 50-strong Gold Coast team are aiming to make to the most of the exposure the event will offer.

"You can't underestimate the complexity of putting on a set of Games like this and what's involved to deliver what they'd like to be the best Games staged," says Rob Jones, the Brisbane-based chair of KPMG Queensland.

"It is probably going to be the largest event in Australia over the next 10 years. The opportunity for us to showcase our skills is a great opportunity to contribute, and make sure those Games are as successful as they can be.

"We are a global firm but we are also very local. The Gold Coast office is one that's very important to our Queensland practice and the Gold Coast community is a growing community with great opportunity.

"The Commonwealth Games are going to very much add to that sense of development of the Gold Coast."

KPMG's ties on the Gold Coast stretch back almost 60 years, with the company's current operation the result of a string of mergers and acquisitions in that time. It is the only big four accounting firm with a presence in the city.

Adam Twemlow (pictured right), KPMG Gold Coast partner in charge, says the Games have already brought material change to the local economy through a broad range of infrastructure projects, including the Jupiters Casino expansion, Gold Coast Airport upgrade and the planned light rail extension to Helensvale.

"You can see a level of excitement and enthusiasm starting to build in the economy," he says.

"All will have a knock on effect into the economy and I can see it getting more momentum as we get closer."

Twemlow says KPMG's commitment to the Games will extend well after the event ends in 2018 as the accounting firm will assist with the dissolution of the Games corporate structure.
As for fears of a post-Games slump touted by some observers, Twemlow doesn't see it happening.

"I think we've got some good momentum going on; there's a lot of investment in the Gold Coast," he says. "I'm very positive about our economic future."