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Bank of England probe latest blow to KPMG’s reputation

Tom Fox | July 25, 2018

Accounting firm KPMG has taken some serious reputational hits over the past several months.

The first was around KPMG South Africa’s work with the politically connected Gupta family and its web of corrupt entities in South Africa, which led to the dismantling of the South African operations team and replacement by others in the firm. It also led to many South African and African customers ceasing doing business with KPMG. 

Next came the corruption scandal in the United States, where several KPMG U.S. practice leaders allegedly secured information on upcoming audits by the Public Company Accounting Oversight Board (PCAOB) of the work done by KPMG for its clients. Several partners and others at the firm...

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