The UK is wedded to the class system, and so still awards new year honours of varying classes, indicating your rank in society. Amongst recipients this year are Mike Rake, senior partner of KPMG international, who is now Sir Mike Rake.
Candidly, this is a Knight too far. He was senior partner of KPMG in the UK throughout the debacle that nearly destroyed KPMG in the US and worldwide. He must have known something of what was going on there. And frankly neither he nor KPMG have moved far enough to justify any form of award as yet.
KPMG have done great disservice to the profession. To reward its chair for services to accountancy is pushing credibility beyond limits: well beyond limits most people bar Blair's government would accept.