All KPMG articles
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PremiumChinese regulators impose six-month ban, $62M fine on PwC’s China unit
Chinese authorities banned PwC’s Chinese unit from performing audits in the country for six months, labeling the subsidiary’s flawed audit work as complicit in the failure of giant property developer Evergrande.
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PremiumExperts warn U.K. money laundering cases to ‘significantly increase’
The U.K. has an ongoing problem with money laundering, but recent changes to economic crime law and corporate registration requirements could bring more cases to court, according to consultancy KPMG.
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News BriefPCAOB removes redactions on 2022 KPMG inspection
The Public Company Accounting Oversight Board published the full results of its 2022 inspection for Big Four firm KPMG after its initial report contained more than two dozen redactions.
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PremiumAccountancy 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.
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News BriefKPMG Netherlands fined record $25M by PCAOB for exam cheating
KPMG Netherlands agreed to pay a record $25 million penalty levied by the U.S. Public Company Accounting Oversight Board for allegedly allowing widespread cheating by employees on internal training exams and misinforming regulators about the misconduct.
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WebcastCPE Webcast: Doubling down on compliance: Deep dive into SEC cybersecurity regulations
KPMG and ServiceNow experts will delve into best practices to help you not only understand the new regulations but also navigate critical regulatory challenges by highlighting how a platform like ServiceNow can help with compliance.
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PremiumPCAOB 2022 inspection reports: Big Four setbacks; KPMG redacted
Three of the Big Four audit firms saw increases to the deficiency rates observed in their latest Public Company Accounting Oversight Board inspection reports, while KPMG had its results redacted.
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News BriefKPMG fined $1.9M by FRC over M&C Saatchi audit lapses
KPMG agreed to pay a reduced penalty of nearly £1.5 million (U.S. $1.9 million) assessed by the U.K. Financial Reporting Council addressing admitted failings in the Big Four audit firm’s financial year 2018 work at advertising services company M&C Saatchi.
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PremiumStiffer U.K. audit penalties posing more problems?
Legal experts are unconvinced record fines against audit firms imposed last year by the U.K. Financial Reporting Council will necessarily improve audit quality.
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PremiumEfficiency, consistency among goals of modernized TPRM program
Managing directors at KPMG share how firms are making strides in building robust third-party risk management programs for the future.
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News BriefKPMG Japan fined $500K over journal entry quality controls
The Japanese affiliate of Big Four audit firm KPMG was assessed a $500,000 penalty by the Public Company Accounting Oversight Board for quality control deficiencies regarding journal entry testing.
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PremiumKPMG report forecasts heighted risk standards for banks in 2024
A new report from KPMG predicted the banking and financial services industries will be hit with unprecedented regulatory intensity in 2024, with regulators expecting compliance deficiencies to be addressed more thoroughly and quicker than ever before.
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PremiumSurvey: Risk chiefs feeling pressure from growing compliance mandates
Mounting compliance requirements and technological innovations have chief risk officers facing more complex risk environments, according to a KPMG survey.
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PremiumSpanish labor ministry continues working condition crusade with Big Four fines
Spain’s labor ministry fined the Big Four accountancy firms at least €1.4 million (U.S. $1.5 million) total for overworking and underpaying their respective employees, continuing a recent trend in the country of the government cracking down on apparent labor violations.
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News BriefFRC fines KPMG $26M for ‘damning’ Carillion audit failings
KPMG accepted the conclusions and record penalties levied against it by the U.K. Financial Reporting Council for the “exceptional” level of deficiencies found to have taken place during the Big Four audit firm’s work at collapsed construction company Carillion.
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PremiumKPMG survey: ESG-related concerns in M&A derailing deals
Material findings related to environmental, social, and governance due diligence have disrupted mergers and acquisitions, forcing companies in the United States and abroad to back out of deals, according to a study from KPMG.
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PremiumAA report: Inflation helps drive audit fees to all-time high
Average audit fees paid to external auditors by Securities and Exchange Commission registrants reached record totals in fiscal year 2022, according to the latest annual study.
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PremiumFRC 2022/23 audit inspections: Big Four steady; BDO and Mazars improve
The U.K. Financial Reporting Council noted overall improvement in annual inspection and supervision results for the largest audit firms for a fourth consecutive year as part of its latest quality review.
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News BriefPwC, KPMG fined over audit lapses at Eddie Stobart Logistics
The U.K. Financial Reporting Council separately penalized Big Four audit firms PwC and KPMG for deficiencies in their work at transport company Eddie Stobart Logistics for the financial years ended 2018 and 2017, respectively.
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PremiumKPMG report: Bank supervision, cyber among reg focus areas for rest of year
A new report by KPMG on key regulatory challenges for the second half of 2023 warned financial institutions to prepare for increased scrutiny, while all companies should expect more questions on how they oversee their cybersecurity and data management programs.