KPMG International today announced that William O'Mara has been appointed as Global Head of Audit, effective March 1. He succeeds Larry Bradley who led the practice since 2013.
Mr. O'Mara, a senior audit partner with KPMG LLP, the U.S. member firm of KPMG International, has extensive international experience having served as KPMG Global Lead Partner for several of the U.S. firm's largest multinational clients, as well as previously holding senior executive roles in the financial services and industrial sectors. He has also served a term on the Board of Directors of KPMG LLP (US).
Mr. O'Mara will serve on the KPMG Global Management Team under KPMG International Chairman John B. Veihmeyer. Mr. Bradley is assuming responsibilities as the Global Lead Partner for one of KPMG LLP's (US) largest industrial audit clients.
"I am very pleased to congratulate Bill as the new Global Head of Audit," said Mr. Veihmeyer. "Bill brings outstanding experience and qualifications to this role at a time when we are focused on continually improving audit quality and seeking to lead an unprecedented transformation to enhance the value of the audit for capital markets and investors.
"I thank Larry for his exemplary leadership in making a significant contribution to the debate about the future relevance of audit, and in positioning our audit practice for continued strong growth. Bill takes the helm to lead us further into our transformation through continuing to deploy innovative technologies and processes that deliver consistently greater audit quality, performance and value."
Mr. O'Mara commented: "Building upon the excellent foundation that Larry set, my mandate is to continue to raise the bar on audit quality and drive innovation throughout our practices.
"Companies all over the globe are dealing with a barrage of complex financial, risk and regulatory challenges, and these affect the capital markets and users of financial and non-financial information. As auditors, we are committed to help address these issues by offering assurance over what matters to stakeholders and with innovative cutting-edge audit processes and tools, such as utilizing data and analytics to drive audit quality and surface actionable insights from audit evidence."
Said Mr. Bradley: "There's no better person than Bill to take the reins of our Global Audit practice. Having served as a Global Lead Partner on a number of KPMG's largest global audit accounts, Bill has a deep knowledge of client issues; he innately understands the critical role we, through our network of member firms, must play in furthering innovation and quality in audit, while providing clear, actionable insight and guidance to clients."