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Violation Tracker UK Individual Case

Company: KPMG Audit LLC
Current Parent CompanyKPMG
Parent at the Time of the Penalty Announcement: KPMG
Company City/Town: Douglas
Company Nation/Region: British Crown Dependency
Penalty: £137,818
Year: 2019
Date: 20 August, 2019
Offence Group: financial offences
Offence Type: accounting fraud or deficiencies
Violation Description: With the agreement of KPMG Audit LLC the Investigation Committee made an order that the firm be severely reprimanded, fined £126,000 and pay costs of £11,818 with respect to complaints that it issued audit reports that did not meet standards in that the firm did not obtain sufficient appropriate audit evidence in respect of loan balances owed and the recoverability of loan balances owed.
Action Type: agency action
Settlement Type: Consent Order
Agency: Institute of Chartered Accountants in England and Wales
HQ Country of Parent: Netherlands
Ownership Structure of Parent: privately held
Major Industry of Parent: business services
Specific Industry of Parent: accounting services
Source of Data(click here)