Accountancy bodies urge ethical behavior amid exam cheating scandals


Trust in the integrity of corporate finance and auditing is vital, but repeated scandals over exam cheating at the largest multinational firms are denting faith in the system globally.

KPMG Netherlands became the latest firm to be penalized for alleged cheating by employees and was dealt a record $25 million fine by the U.S. Public Company Accounting Oversight Board (PCAOB) earlier this month.

The scandal implicated senior managers and hundreds of staff. Marc Hageboom, the firm’s former head of assurance, received a personal fine of $150,000 and was banned for life from working for a firm auditing U.S. companies.

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