[Congressional Record Volume 143, Number 109 (Tuesday, July 29, 1997)]
[Extensions of Remarks]
[Pages E1554-E1555]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


                 100TH ANNIVERSARY OF PEAT MARWICK LLP

                                 ______
                                 

                           HON. MARGE ROUKEMA

                             of new jersey

                    in the house of representatives

                         Tuesday, July 29, 1997

  Mrs. ROUKEMA. Mr. Speaker, I am pleased to have the opportunity to 
call attention to historic American success story. On August 2, 1997, 
KPMG Peat Marwick LLP, the accounting and consulting firm, 
headquartered in Woodcliff Lake, NJ, celebrates 100 years in business 
in the United States. Founded by two Scotsmen who became naturalized 
citizens of this country, KPMG Peat Marwick is a private enterprise 
that has grown from two employees to 20,000 during a century of 
tremendous change. The firm's expansion on U.S. soil and around the 
world is a testament to the pioneering spirit and vision of James 
Marwick and Roger Mitchell, who identified the need for independent 
accounting review of companies big and small, and who meet that need by 
conducting certified, independent audits.
  These two accountants saw the extent to which participants in an open 
and free market rely on accurate financial information to make 
important business decision--decisions that affect thousands of 
employees, investors, and consumers. They took seriously their charge 
as independent auditors, acknowledging the public trust they held when 
rendering audit opinions for clients that include some of the corporate 
giants in our Nation's history. When the needs of their clients 
expanded or varied, so did the services and capabilities of this firm. 
As the United States and the world embark on the frontier of the 
information age, this now-worldwide firm stands as a proud reminder of 
past accomplishment and a beacon of future advancement.
  KPMG Peat Marwick has preserved and enhanced another great tradition 
during its first 100 years--that of community involvement. Indeed, the 
centerpiece of the firm's 100th anniversary celebration is its World of 
Spirit Day--a full day of giving back to the communities that have 
helped it to prosper. On September 22, 1997, KPMG will close the doors 
of every U.S. office for the day as 20,000 partners and employees band 
together to volunteer time and talents. From Minneapolis to Miami, from 
New York to San Francisco, KPMG people will collectively spend 160,000 
hours in service to their communities and those in need. At the end of 
the day, various offices will have done the following: Built at least 
two residential homes; refurbished and painted public schools in 
multiple cities; taught and interacted with children in schools and 
child development centers; fed the hungry and homeless; landscaped 
youth camps; and cleaned local parks, rivers, and zoos. What a 
difference this day will make.
  KPMG's mammoth commitment to community service was one reason it was 
the only professional services firm chosen to participate in the 
Presidents' Summit for America's Future. It is my hope that their fine 
example proves to be a catalyst for other companies to make similar 
commitments.
  Mr. Speaker, we are proud to have such a corporate good neighbor in 
our community. Let me congratulate the partners and employees of KPMG 
Peat Marwick on their firm's achievement of 100 years in business.
  Over the course of a century, this company has advanced by verifying 
basic financial information in thick ledgers to providing complex 
assurance and consulting services at the dawn of a knowledge 
revolution. KPMG has proven it can evolve and thrive as time marches 
on. May its endurance and prosperity serve as positive lessons to 
future generations of enterprising Americans.

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