Britain's accounting watchdog has opened a full review of standards and cul...
LONDON - Britain’s accounting watchdog has opened a full review of standards and culture at KPMG, its first such intervention, after the audit firm’s role in collapsed construction company Carillion was criticized by lawmakers.
“Following that referral and discussions with KPMG, the FRC, supported by A&O Consulting, has commenced an assessment of the governance, controls and culture within KPMG’s audit practice,” the FRC said on Tuesday. “With this in mind, we welcome that the FRC has commenced an assessment of our audit practice. The FRC is being supported by Allen & Overy Consulting, led by Sally Dewar,” KPMG said.
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