KPMG LLP, the U.S. member firm of KPMG International, has appointed long-time partner Tim Walsh as its next chair and CEO.

The leadership refresh is the second major organizational change the consulting giant has announced in the past week. Previously, KPMG became the first Big Four member to launch a law firm in the U.S. KPMG Law US, as the new subsidiary is called, will provide legal services and help corporate clients optimize their in-house legal operations.

Like current KPMG LLP CEO Paul Knopp, Walsh is a certified public accountant. He is presently the firm’s national managing partner for audit operations. He earlier led KPMG’s New York Metro Audit unit, which includes audit teams in four states. The unit provides audit services to organizations in more than a half dozen different sectors. It also supports the U.S. operations of international KPMG clients headquartered in Germany, Japan and Korea.

KPMG LLP’s audit business has undergone significant changes over the past decade. In 2017, it started rolling out a software platform called Clara that allows clients to track the status of audits through a centralized interface. Last year, Clara became a core focus of KPMG’s generative AI efforts. The firm introduced machine learning features for the platform that automate tasks such as reviewing audit documentation and identifying risks.

Before rising to the top ranks of KPMG’s audit business, Walsh spent years in the startup investment world. He led KPMG’s New York venture capital practice and was part of a team that helped international companies raise funding in the U.S.

“I want to thank Paul for his leadership and stewardship of the firm,” Walsh said in a prepared statement. “We are entering an unprecedented era of transformation driven by breakthroughs in artificial intelligence and automation. Winning companies are making the right strategic moves on talent, technology, and growth.”

Walsh will start his five-year term as chair and CEO on July 1.

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