By Kyle Brasseur2023-04-27T13:32:00
The U.K. Financial Reporting Council (FRC) fined Big Four audit firm KPMG approximately 1 million pounds (U.S. $1.2 million) for deficiencies in its work on the 2020 year-end financials of discount retailer TheWorks.co.uk.
KPMG avoided a penalty of £1.75 million (U.S. $2.2 million) for cooperation and early admission, the regulator stated in a press release Wednesday. The firm was ordered to improve its second line of defense function to prevent future breaches of audit requirements.
The FRC also penalized former KPMG Partner Anthony Sykes a reduced £43,875 (U.S. $55,000) for his role in the deficiencies as engagement partner.
2024-03-05T20:05:00Z By Kyle Brasseur
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.
2023-08-18T16:30:00Z By Jeff Dale
The U.K. Financial Reporting Council fined audit firm Mazars £72,000 (U.S. $92,000) for “wide-ranging failings” in its audit of an unnamed market traded company.
2023-06-29T20:30:00Z By Kyle Brasseur
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.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
2025-09-11T20:53:00Z By Neil Hodge
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
2025-09-10T22:24:00Z By Adrianne Appel
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.
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