KPMG UK: Sustainable Growth PARTNER KPMG UK believes sustainable growth is the only way to build a successful business and to have a lasting impact on the world. We started publishing Our Impact in September 2021, bringing together our firm’s commitments in one place, measuring our progress and holding ourselves accountable to drive change. This reports on our impact on the environment, [...]
US regulator slaps KPMG’s Dutch arm with record-breaking fine over exam cheating Professional services The penalty is the largest fine the PCAOB has ever imposed. The regulator also singled out former head of assurance, Marc Hogeboom, stating that he directly and substantially contributed to the violations.
KPMG’s Carillion settlement generates £7m profit for Aussie litigation funder Carillion An Australian litigation funder has more than doubled its money after giving Carillion’s liquidator millions to fight a £1.3bn lawsuit against KPMG. Litigation Capital Management (LCM) has generated more than £7m in profits after funding the claim brought by Carillion’s liquidator against the Big Four firm, the Aussie firm said today. LCM’s announcement comes [...]
KPMG’s UK business fined over widespread exam cheating scandal December 8, 2022 The USA’s accounting watchdog has fined KPMG $7.7m (£6.3m) and sanctioned four of its auditors over a series of international offences, including its failure to properly deal with a widespread UK cheating scandal. The watchdog claimed hundreds of KPMG’s UK staff cheated on exams, including the tests auditors are required to pass to maintain their [...]
KPMG’s failings led to Carillion’s collapse, High Court lawsuit says November 28, 2022 KPMG’s incompetence in its audits of Carillion played a core part in the construction giant’s 2018 collapse, Carillion’s liquidators have said, as part of a £1.3bn lawsuit against the Big Four accounting firm. KPMG’s 2016 audit of Carillion lulled the construction firm’s board into a false sense of security that saw the firm make a [...]
KPMG to cut jobs and freeze pay in deals division October 17, 2023 Around 110 employees, nearly seven percent of the KPMG's UK deals workforce, are expected to be laid off, according to the Financial Times.
Deloitte and KPMG encourage use of burner phones in Hong Kong November 28, 2023 Some of the Big Four firms are advising its executives not to use their usual work phones when they travel to Hong Kong. According to the Financial Times, Deloitte and KPMG have asked some US-based staff to use burner phones when they visit this territory. The policy has caused staff to be reluctant to visit [...]
KPMG slashes bonuses again as dealmaking fees dry up November 10, 2023 KPMG has slashed bonuses for its UK deals team again in the latest sign of the strains facing the firm after a drop off in fees this year, City A.M. has learned.
KPMG’s Dubai partners urge global leadership to suspend Emirati bosses September 17, 2022 A group of senior partners at KPMG’s Dubai business have called on the Big Four accounting firm’s global leadership to suspend bosses at its UAE division, over allegations of nepotism, cronyism, and a culture of fear within the firm. The Dubai partners are calling on KPMG International’s top executives to parachute in a temporary chief [...]
KPMG UK re-elects chief ahead of ‘some big changes’ March 18, 2024 The UK arm of Big Four firm has re-elected Jon Holt to serve a second term as the firm’s chief executive.