The Public Company Accounting Oversight Board (PCAOB) on Monday announced a $450,000 fine against KPMG’s Australian subsidiary to resolve allegations of widespread cheating on personnel training tests at the firm.
More than 1,100 KPMG Australia employees, including more than 250 auditors, “were involved in improper answer sharing—either by providing or receiving answers—in connection with tests for mandatory training courses covering topics that included professional independence, auditing, and accounting,” the PCAOB stated. The alleged misconduct occurred from at least 2016 until early 2020, when KPMG Australia reported the matter to the PCAOB and began taking remedial action.
