[Congressional Record Volume 143, Number 111 (Thursday, July 31, 1997)]
[Extensions of Remarks]
[Page E1569]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               100TH ANNIVERSARY OF KPMG PEAT MARWICK LLP

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                           HON. MARGE ROUKEMA

                             of new jersey

                    in the house of representatives

                        Wednesday, July 30, 1997

  Mrs. ROUKEMA. Mr. Speaker, I am pleased to have the opportunity to 
call attention to an historic American success story. On August 2, 
1997, KPMG Peat Marwick LLP, the accounting and consulting firm, 
headquartered in Montvale, 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 met 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 decisions--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 Warwick 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 their 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 service firm chosen to participate in the 
President's 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 good corporate 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 from 
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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