KPMG Partners Vote to Create Limited Liability Company Company

Beginning of article

ROGER TRAPP

Partners' salaries and other financial details will be disclosed by the leading accountancy firm KPMG within three months as a result of its decision to create a limited company to carry out audits of publicly quoted and financially regulated clients.

The creation of KPMG Audit, which will be wholly owned by the partnership and capitalised at pounds 50m, was confirmed by Britain's second-largest accountancy practice yesterday - so ending months of press speculation. A vote of the firm's 600 partners had been overwhelmingly in favour of the proposal, senior partner Colin Sharman told a press conference at London's Savoy Hotel.

Under the new …