KPMG Australia has acquired Penrith-based accounting and tax practice firm, TRACE Chartered Accountants, their 13th acquisition in the past two years.
KPMG will continue to be based at TRACE’s existing Penrith premises, which served the Nepean community for more than 30 years.
New KPMG Partner Peter Tracey, son of TRACE’s founder Brien Tracey, will head up the new team consisting of 11 members.
Announcing the investment, KPMG Australia CEO Gary Wingrove said, “Today’s acquisition of TRACE adds strong relationships and capability in the Nepean region. We’re delighted to welcome a highly motivated and predominantly female team, with a strong cultural fit, and complementary business service capabilities.”
“KPMG now has a ‘three cities’ presence in Sydney – Sydney CBD, Parramatta, and Penrith. Western Sydney is one of the fastest growing regions in the country, and I’m confident this positive trend will continue, with significant infrastructure and associated investment expected through the development of Western Sydney Airport,” he added.
Former chief executive partner of Allens, Michael Rose, has also joined KPMG as a special adviser.
He will provide the firm’s leadership teams with insights supporting a range of growth initiatives, including social responsibility, particularly in Indigenous businesses and communities, government and infrastructure, and legal advisory.
In addition to his role with KPMG, Mr Rose will continue chairing a number of government, arts and not-for profit organisations, including the Committee for Sydney, Sydney Living Museums and the Institute for Global Development at UNSW.
Jotham Lian is the editor of Accountants Daily, the leading source of breaking news, analysis and insight for Australian accounting professionals.
Before joining the team in 2017, Jotham wrote for a range of national mastheads including the Sydney Morning Herald, and Channel NewsAsia.