By Kyle Brasseur2022-10-19T20:39:00
Three affiliates of KPMG agreed to pay a total of $275,000 in penalties for failing to disclose unregistered firm participation in public company audits—the latest such cases for the global accounting firm.
KPMG Canada received a $150,000 fine from the Public Company Accounting Oversight Board (PCAOB), while KPMG Italy and KPMG Netherlands agreed to pay $75,000 and $50,000, respectively. All three firms, without admitting or denying the PCAOB’s findings, further agreed to be censured.
The settlements announced Wednesday follow a $200,000 fine KPMG South Africa received from the PCAOB in August for similarly violating accounting rules related to the use of an unregistered accounting firm.
2023-10-25T13:58:00Z By Kyle Brasseur
Canada-based accounting firm Smythe agreed to pay a $175,000 penalty in settling with the Public Company Accounting Oversight Board regarding its use of unregistered firms across four issuer audits.
2023-03-21T16:49:00Z By Kyle Brasseur
The Securities and Exchange Commission is paying added scrutiny toward audit firms’ increasing use of network affiliates in their work and the potential for inconsistent quality that comes with such an approach.
2022-12-07T14:55:00Z By Kyle Brasseur
The Public Company Accounting Oversight Board announced $7.7 million in total penalties against three separate KPMG firms and four individuals for varying violations of audit standards and ethical rules, including alleged exam cheating.
2025-10-20T18:07:00Z By Adrianne Appel
Three executives of a multinational voting machine company in the crosshairs of President Donald Trump since 2020 have been indicted in Florida by the U.S. Department of Justice for allegedly paying $1 million in bribes to the Philippines top election official.
2025-10-20T17:29:00Z By Ruth Prickett
U.K. motor finance companies are preparing to pay billions in compensation after a Supreme Court ruling found they sold unfair car loans over many years, failing to disclose key information and denying consumers the chance to compare deals or negotiate.
2025-10-17T21:09:00Z By Oscar Gonzalez
Even though the U.S. federal government is currently shut down, the U.S. Securities and Exchange Commission appears to still be at work. The financial regulator is reportedly investigating a major insurance and asset management company over its accounting practices.
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