KPMG has just carved out a larger piece of the indigenous consultancy market in Australia.
The big four accountancy and advisory group today announced the acquisition of the specialist indigenous consultancy, Arrilla. The size of the deal wasn’t made public.
It’s also taken a 49% stake in Arrilla’s digital indigenous cultural competency training venture, and committed to reinvesting a portion of profits from the joint venture into a range of initiatives, including an indigenous business incubator.
“We believe indigenous economic empowerment must be built through entrepreneurial activity and employment — and that’s exactly what you’re seeing from KPMG today,” says Peter Nash, chairman of KPMG Australia.
“This expansion is driven by a social purpose, and very deliberately conceived to bring together Indigenous expertise with KPMG specialists to provide tangible outcomes focused on economic development.”
The deal marks the twelfth acquisition by KPMG in Australia over two years. Investments include social media risk consultancy SR7, First Point Global cyber security business and human rights and social impact consultancy, Banarra.
KPMG’s new indigenous advisory practice, KPMG Arrilla Indigenous Services, will be co-led by the current head of corporate citizenship, Catherine Hunter, and Shelley Reys, the principal of Arrilla.
Shelley Reys has 22 years of experience in the Aboriginal and Torres Strait Islander landscape. She was the inaugural co-chair of Reconciliation Australia.
“The indigenous business incubator that we plan to establish is a key point of difference in the market and an important aspect for me,” she says.
“This unique relationship with KPMG offers a platform from which to deliver something that I’m passionate about — the creation of a culturally competent Australia.”
KPMG Arrilla Indigenous Services will also support companies wanting to make an impact in the indigenous space, better connecting indigenous enterprises with corporate and public sector Australia.
Other specialist services include framing indigenous policy and programs, building indigenous business capability and supporting reconciliation action plans.
KPMG Australia was the first major accounting firm to launch a reconciliation action plan in 2009.
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