By Kyle Brasseur2024-03-05T20:05:00
KPMG agreed to pay a reduced penalty of nearly 1.5 million pounds (U.S. $1.9 million) assessed by the U.K. Financial Reporting Council (FRC) addressing admitted failings in the Big Four audit firm’s financial year 2018 work at advertising services company M&C Saatchi.
The firm earned a discount from an original penalty of £2.25 million (U.S. $2.9 million) for admissions and early disposal, the FRC announced in a press release Monday. KPMG received further leniency from the agency by improving its audit procedures to “reduce the risk of the failings identified during the M&C Saatchi audit recurring.”
Adrian Wilcox, the KPMG engagement partner on the audit, was ordered to pay a reduced £48,750 (U.S. $62,000).
2024-07-15T16:41:00Z By Aaron Nicodemus
The U.K.’s Financial Reporting Council fined audit firm MacIntyre Hudson (MHA) and two employees for breaching the agency’s requirements.
2024-05-14T16:30:00Z By Jeff Dale
Crowe U.K. was assessed a penalty of £144,000 (U.S. $181,000) by the U.K. Financial Reporting Council for failures in its audit of Aseana Properties Limited’s financial statements for the year ended Dec. 31, 2019.
2024-04-09T17:23:00Z By Kyle Brasseur
Grant Thornton UK was assessed a penalty of £40,000 (U.S. $51,000) by the Financial Reporting Council for alleged procedure failures affecting the firm’s audit of a local authority’s pension fund.
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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