The move will be widely seen by the rest of the Big Six as an attempt to embarrass those firms which have decided not to follow KPMG's lead in publishing full plc-style reports and accounts. It also marks another rare breaking of ranks among the Big Six.
Last year Ernst & Young found itself under attack from the rest of the Big Six for its criticism of how the Accounting Standards Board was run. In the fiercely competitive audit market, such initiatives are seen as attempts by the Big Six's senior managers to differentiate their brand names in a market renowned for uniformity.
''No one criticised KPMG when we revealed our financial information and maybe others should be considering following their lead,'' said KPMG's abrasive senior partner Colin Sharman. ''Clients have a right to expect financial disclosure from the very people who inspect their own books.''
KPMG's competitors will also see the move as an attempt by the firm to make the most of its decision to incorporate its audit business - a decision which led in part to the publication of financial results for the whole of its business.
Incorporation was an attempt by KPMG to limit the legal liability of partners. The other firms are more likely to chose offshore registration as limited liability partnerships - an option which requires little further financial disclosure.
The rest of the Big Six were puzzled by KPMG's lack of aggressive marketing after publication of its first accounts early this year. It appears the firm was waiting for shareholders to confirm the transfer of audits to the new company before going on the offensive. ''KPMG are trying to make the best of bad job. Having missed out on limited liability partnerships they are making the most out of disclosure,'' said one partner at a competitor.
As partnerships, the Big Six, other than KPMG, are not required to disclose the kind of information expected from public companies -such as directors' remuneration, profit figures and information about assets. KPMG asked Mori, the polling organisation, to conduct a telephone survey of 75 of the UK's largest 300 companies, as well as 20 leading banks and 20 top investment companies.
Just under half the responses were from finance directors. The poll found 93 per cent of companies in favour of disclosure and 69 per cent saying they wanted the large firms externally audited. A further 65 per cent said they had no problems with auditors incorporating.
