PKF (Pannell Kerr Forster) was the first organisation offering specialised consulting and benchmarking services for the hospitality industry.

P stands for William Henry Pannell. In 1869, he founded his own CPA firm in London, W. H. Pannell & Co. K stands for Errol Kerr. Together with his partner William Harris, he founded the New York CPA firm Harris, Allan & Co in 1911 which was later renamed into Harris, Kerr & Co. The first office was located in the Ritz-Carlton Hotel on Madison Avenue. F stands for William J. Forster who, in 1923, founded the company W. J. Forster & Co in New York. In 1933, it merged with Harris, Kerr & Co to Harris, Kerr, Forster & Co.

In the 1920s, William J. Forster developed the Uniform System of Accounts for the Lodging Industry (USALI), thereby substantially influencing the hospitality industry. This department-oriented accounting system is still being used by all major hotel companies worldwide and also increasingly by independent hotels. As undisputed industry standard, it provides the basis for almost all financial statements and forecasts in the hospitality industry.

The following summary gives a brief overview of the history of PKF:

With more than 200 member firms in 400 locations in 116 countries, and a total revenue of US$ 3 billion, PKF is one of the largest networks of accounting and consulting firms.