KPMG | Global news | Accounting

An overview of KPMG global news:

Canada

KPMG Canada hit with $1.4-billion lawsuit over Bridging Finance collapse PwC Canada, the receiver for Bridging Finance, is suing KPMG Canada for $1.4 billion over alleged deficiencies in the firm’s auditing of the private debt manager, which collapsed in 2021.
20 April 2023
United Kingdom

Big Four foisting 'high risk' clients onto smaller competitors The Financial Reporting Council has found that the Big Four’s auditing function has collectively improved for two consecutive years.
28 July 2022
United Kingdom

FRC reprimands KPMG for Conviviality and Regenersis failings A member of the Big Four has once again been stung with a fine for audit failings in the UK.
28 January 2022
United Kingdom

KPMG fined £13 million for Silentnight misconduct KPMG has been severely reprimanded by an independent tribunal for misconduct, after a long-running case relating to the sale of the bedmaker Silentnight.
09 August 2021
Canada

KPMG Canada launches cloud accounting solution for SMEs KPMG Canada has launched “Finance Plus,” a new bookkeeping and financial reporting platform tailored to small- and medium-sized enterprises.
18 May 2021
United Kingdom

Senior KPMG Executive scrutinised amid M&C Saatchi investigation One of KPMG’s most senior executives faces scrutiny from the UK audit regulator over a series of errors in the accounts of M&C Saatchi.
20 April 2021
South Africa

KPMG CEO calls for strengthening of South Africa's CA pipeline KPMG South Africa CEO Ignatius Sehoole has called for more vigilance than ever in South Africa’s accounting sector, as the Covid-19 crisis poses a unique challenge to the business environment.
01 July 2020
South Africa

Deloitte supplies top chartered accountancy candidates this year Four of the top twelve candidates in the 2019 Chartered Accountant (CA) assessments in South Africa are from Deloitte.
11 March 2020
South Africa

KPMG South Africa CEO on the state of the audit profession Speaking to CNBC Africa, KPMG CEO Ignatius Sehoole has indicated his desire to restore the “aura of integrity” that surrounded the audit sector when he entered the profession.
24 February 2020
Netherlands

How KPMG Dani is preparing the firm's auditors for the future KPMG’s Digital Assurance & Innovation (Dani) practice is a division of the professional services firm which prepares the Audit function for the future.
17 December 2019
United Kingdom

Labour pledges to take on Big Four audit "cartel” The Big Four of PwC, KPMG, Deloitte and EY could face an audit-sector overhaul, should the Labour Party win the 2019 general election.
29 November 2019
Singapore

Salary hike for KPMG Singapore auditors who pursue accreditation Auditors at KPMG Singapore will be in line for a 20 percent salary boost should they complete their Singapore Chartered Accountant qualifications before July of next year.
03 September 2019
South Africa

KPMG Chairman elaborates on vulnerable points in the accounting sector KPMG South Africa continues to relate its learnings from a turbulent period in South Africa, the latest insights coming from Chairman Wiseman Nkuhlu at the South Africa Institute of Professional Acco
16 August 2019
United Kingdom

KPMG faces potential lawsuit regarding Carillion audit Following the collapse of Carillion at the start of 2018, Big Four professional services firm KPMG has been under sustained scrutiny from UK regulators, the press and even Parliament.
12 August 2019
Australia

Big Four firms allegedly interested in scooping Grant Thornton Big Four firms EY and KPMG are allegedly vulturing around Grant Thornton’s operations in Australia.
05 August 2019
Bahrain

KPMG Bahrain supports students attending audit simulation studies in Asia KPMG in Bahrain has sponsored four local students to attend the first ever international audit simulation programme held by Sunway TES Centre of Accountancy Excellence in Malaysia.
15 July 2019
Malaysia

BDO and Big Four partner with ACCA / Sunway for audit simulation course Malaysia’s Sunway TES Centre of Accountancy Excellence together with the Association of Chartered Certiﬁed Accountants have held the first international installation of their joint Global Audit Simul
20 June 2019
Netherlands

KPMG and Deloitte advise on deal in Dutch software landscape IT software company Unit4 has acquired JSKS, a small Netherlands-based provider of accountancy and fiscal software to mid-sized businesses and entrepreneurs.
05 June 2019
United Kingdom

KPMG to restructure its UK audit business With the Big Four routinely coming in for criticism from the UK’s auditing watchdog, KPMG has taken action to offset further calls for the break-up of its accounting and consulting wings.
04 June 2019
Kenya

Barclays Bank of Kenya looks to replace KPMG with EY as external auditors Drawing on the actions of its parent company Absa, Barclays Bank of Kenya is planning to terminate its relationship with global accounting and advisory firm KPMG, which has been its external auditor
08 May 2019
Australia

Big Four accounting and consulting firms booming in Australia The Big Four professional services firms – EY, Deloitte, KPMG and PwC – are enjoying a sustained boom in Australia.
12 February 2019
United Kingdom

Union calls for Carillion criminal investigation one year on Following a succession of additional scandals worsening the blow of the Carillion scandal, one of the UK’s leading workers’ rights organisation has called on the Government to take more stringent act
17 January 2019
United Kingdom

CMA calls for audit market cap but stops short of Big Four break-up The Big Four audit and advisory firms face an unprecedented limit to their market share, following the conclusions of a probe by the UK’s competition ombudsman.
17 December 2018
Oman

KPMG cops one-year ban from new auditing work in Oman KPMG in Oman has been suspended by local regulators from taking on any new audit work for one year due to a finding of ‘professional negligence’.
26 November 2018
United Kingdom

Big Four rivals outline recommendations for changing UK audit market Some of the UK’s largest auditing and advisory firms have called for changes to the UK accounting scene, ahead of the Competition & Markets Authority’s industry probe.
22 November 2018
United Kingdom

KPMG imposes self-enforced ban on non-audit work for FTSE 350 Reports circulated by the UK media have stated that KPMG is to stop undertaking non-audit work for FTSE-350 companies whose accounts it supervises.
09 November 2018
United Kingdom

Big Four accounting firms brace for competition probe from CMA As pressure continues to mount on the top figures of the auditing and advisory industry, the dominance of the Big Four in the accounting arena will now be the subject of a landmark competition probe.
15 October 2018
United Kingdom

Big Four firms wary of Sports Direct's hunt for new auditor As competition rules have led to Grant Thornton having to stand aside as the auditor of Sports Direct, the retail group has been left struggling to replace the firm.
19 September 2018
United Kingdom

British furniture company appoints KPMG administrators A UK furniture producer has appointed administrators from Big Four firm KPMG, following a rocky start to 2018 for retailers and their suppliers.
07 August 2018
South Africa

Deloitte to become joint auditor of Old Mutual alongside incumbent KPMG South African financial services and insurance firm Old Mutual has added global professional services firm Deloitte as an auditor, in addition rival firm KPMG, which has been Old Mutual’s auditor for
25 July 2018
Malaysia

KPMG says previous audits invalid in latest Malaysia 1MBD development In the latest 1MBD development, one-time auditor KPMG has informed the scandal-hit Malaysian state-fund that its previous audits are invalid.
29 June 2018
United Kingdom

'Unacceptable deterioration' in auditing sees KPMG censured by FRC The Financial Reporting Council has taken unprecedented steps to monitor the auditing work of KPMG.
28 June 2018

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