Diageo case study

Diageo is the world's leading premium drinks business with a collection of international brands including Smirnoff, Johnnie Walker and Guinness. It operates in over 180 countries, generating sales of almost £10 billion a year. While a lot of the work for the annual Diageo Audit is concentrated in the two months of July and August, it involves many hundreds of KPMG employees in approximately 50 offices across our global network of member firms. The assurance work our firms perform continues year-round, and we undertake other specific tasks such as the half-year review results.

Other Audit case studies

PepsiCo.

Compliance the world over

Our firms' main task is a legal requirement, the statutory Audit. Diageo has a huge, complex structure with a diverse range of brands in many different markets. With listings on both the London and New York stock exchanges, it has to comply with reporting requirements for its group results in both markets. This structure provides many challenges, the differing listing requirements of the U.S. and the U.K. and the different reporting and tax structures in various parts of the world. But also the gathering, collation, verifying and presentation of information from so many different markets. Added to this is the task of helping the group prepare compliance with changing regulations, such as the introduction of Sarbanes-Oxley requirements.