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No change in audit-non-audit mix in U.S., KPMG says

Tammy Whitehouse | November 20, 2018

Amid reports that KPMG is drawing a firmer line between audit and non-audit services in the United Kingdom, the firm has no similar plans in the United States. 

KPMG is under fire in the U.K. for diminishing audit performance, particularly in connection with the collapse of British construction firm Carillion. The firm has reportedly advised its partners internally that it would halt all non-essential non-audit services to companies it currently audits that are listed among the largest companies on the Financial Times Stock Exchange.

In the United States, however, KPMG has no plans to make any changes to its mix of services to publicly traded companies because independence issues have already been addressed under Sarbanes-Oxley, the firm said through a spokesman. “We have benefitted from robust independent regulation and oversight to safeguard auditor independence...

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