KPMG Saudi unit changes corporate structure to allow for expansion

DUBAI: KPMG said it will convert its Saudi Arabian unit from a professional partnership to a closed joint stock company, enabling the audit and advisory firm to expand across the Kingdom and in the regional market.
The move, approved by the Saudi Ministry of Commerce, is also aimed at creating job opportunities for Saudi citizens and allowing a new stream of shareholding from investors, who could be from professions outside the service sector.