ABI director general to take up partner role at KPMG May 19, 2021 Huw Evans, director general at the Association of British Insurers (ABI), will join KPMG as a partner next January in the Big Four firm’s insurance and long-term savings division. Evans had been director general at the ABI for more than six years, during which he represented the insurance industry through Brexit, Solvency II implementation, pension [...]
Accounting watchdog pushes for KPMG to be fined £15m over Silentnight sale June 21, 2021 Accounting watchdog pushes for KPMG to be fined £15m over Silentnight sale
KPMG may rebuild restructuring arm one year after selling it for over £350m July 29, 2021 KPMG is reportedly creating a new division to advise on corporate restructurings, less than a year after it sold its UK insolvency advisory business for over £350m. The big four auditor made the move as a result of new competition laws which made achieving profits from its non-auditing services harder, according to the report in [...]
KPMG: Financial services firms ability to tackle the pandemic and climate risk will be a measure of their success July 12, 2021 Tomorrow’s Financial Stability Report from the Bank of England will no doubt applaud the crucial role played by UK financial services in guiding our economy through the pandemic so far. But, to think we are out of the woods is an error – leaving lockdown will require every bit as much caution as surviving it has. [...]
KPMG creates 200 jobs in Belfast February 17, 2021 Big Four firm KPMG is creating 200 jobs in a new “centre of excellence” in Belfast. The new investment will deliver services in cyber security, applied intelligence and digital transformation. The new centre is a joint initiative between KPMG in Ireland and in the UK, and has the support of InvestNI and the Department of [...]
Carillion liquidators secure funding to take KPMG to court for audit failures May 19, 2021 Carillion’s liquidators have secured a £250m funding deal with a litigation funder to take KPMG to court for audit failures. Litigation Capital Management (LCM) will fund a claim against the Big Four firm in the Commercial Court of the High Court. Carillion’s liquidators are taking KPMG to court for perceived audit failures, resulting in losses [...]
KPMG settles lawsuit with $84m payout after failing to spot fraud at Chinese group July 19, 2021 KPMG has agreed to pay around $84m to settle legal claims after failing to identify fraud at a Chinese timber company. China Forestry’s IPO led to backlash against poor listing standards in Hong Kong. Its liquidators claimed the accounting giant was negligent in failing to detect serious false accounting by some of the company’s top [...]
KPMG UK puts a woman back in charge of its audit division May 7, 2021 Catherine Burnet has been made KPMG UK’s new head of audit, taking over from Jon Holt, who recently became chief executive at the Big Four firm. Burnet’s career with KPMG spans more than 25 years and has seen her as regional chair for Scotland, Edinburgh office senior partner and a lead partner on a number [...]
KPMG staff to leave early in the summer as firm embraces hybrid working May 5, 2021 Staff at KPMG will be able to leave early one day a week during the summertime, as the Big Four firm moves to hybrid working post-pandemic. The Big Four firm has finalised its plans for flexible working in a post-pandemic world. KPMG staff will spend on average just two days a week in the office [...]
Regulator zeroes in on KPMG over M&C Saatchi audit April 12, 2021 KPMG faces scrutiny from the audit regulator after an accounting scandal at M&C Saatchi saw the business overstate its profits £14m in irregularities dating back to 2014. The Financial Reporting Council (FRC) has made initial inquiries to determine whether KPMG’s auditing met the required standards, the Financial Times first reported. The inquiries are a formal [...]