Joules share price plummets after retailer calls in KPMG to help boost profitability July 11, 2022 Joules share price has tumbled after it confirmed weekend reports that it has called in the KPMG debt advisory to help boost its cash position. As set out in its May trading update, the premium lifestyle group said it will continue to focus on improving profitability, cash generation and liquidity headroom. As at 29 May, [...]
Wirecard’s finance chief admits forging documents after facing pressure from KPMG July 4, 2022 Wirecard’s former head of accounting has admitted forging documents, after coming under pressure to provide evidence of transactions during a special audit by KPMG. Wirecard’s ex-chief financial officer, Stephan von Erffa, told prosecutors he falsified the documents, after coming under pressure from the auditor to provide evidence of a €50m payment, according to sources speaking [...]
KPMG refuses to sign off Adler audit following allegations of wrongdoing April 30, 2022 Big Four accountancy firm KPMG has refused to sign off the 2021 financial results of German property group Adler, after an investigation by the auditor last week unveiled widespread issues with the property firm’s corporate governance. In a statement, the Berlin based real estate company, which owns 52,000 flats across Germany, said KPMG had “not [...]
KPMG fined £3.4m over Rolls Royce audit failings May 24, 2022 Big four firm KPMG has been fined £3.4m over its audit of Rolls Royce. The company was slapped with the penalty by the financial regulator over its failings to address problems at the company in a 2010 audit. This is the fourth fine imposed on KPMG in 2022 according to the FT. The Financial Reporting [...]
KPMG drops embattled property firm Adler as client following allegations of wrongdoing May 18, 2022 KPMG has dropped German property firm Adler as an audit client after refusing to sign off on its accounts last month. In a letter to investors, Adler chairman Stefan Kirsten said KPMG’s decision had come as a “great surprise” to the firm, as he said the firm is now searching for a new auditor. Kirsten [...]
KPMG Canada adds Bitcoin and Ethereum to balance sheet February 8, 2022 KPMG's Canadian arm has added Bitcoin and Ethereum to its corporate treasury, marking the accounting giant's first direct investment in crypto.
Big Four switch: Alliance Pharma hires Deloitte as its new auditor after KPMG resigns August 8, 2022 Alliance Pharma has appointed Big Four giant Deloitte as auditor after the pharmaceutical company’s go-to for six years KMPG resigned. Deloitte will be the company’s auditor until the end of 2022 and will need to be approved by Alliance Pharma’s shareholders to be re-appointed for 2023. It was appointed following a tender process, which KPMG [...]
KPMG to cash in on tech fundraising boom via stake in venture capital advisor April 27, 2022 KPMG is seeking to capitalise on the UK’s booming technology startup ecosystem by acquiring a 50 per cent stake in venture capital fundraising advisor Acceleris. The Big Four accountancy firm is hoping to cash in on the booming market for tech startup fundraising by teaming up with the tech-focused venture capital firm. The deal, which [...]
KPMG hires CryptoUK exec to boost digital assets and Web3 offerings May 17, 2022 KPMG has hired CryptoUK exec Ian Taylor to lead the Big Four accountancy firm’s crypto and digital assets team, in line with plans to strengthen its crypto offering. The firm said the former executive director of the UK’s crypto industry trade body will continue to have an advisory role at CryptoUK alongside his new position [...]
KPMG admits to misleading regulator over Carillion audits January 11, 2022 KPMG has admitted to misleading the regulators during audits of Carillion, an outsourcer which collapsed in 2018. A hearing spearheaded by the Financial Reporting Council (FRC) kicked off yesterday to determine whether KPMG is guilty of forging documents and misleading regulators in relation to audits of Carillion and Regenersis. The accounting giant’s chief executive, Jon [...]