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UK accounting regulator fins with KPMG £ 690,000 for trusting an audit audit company in agricultural rules and violations of auditor’s auditorial rules.
The financial reporting council says KPMG does not have to rely on the work of small company because the accounting services and fails to change a lead mark of five-year marks.
The time limit and the restriction restrictions to other services are designed to ensure auditors remain independent from the companies they investigate.
Londa audit independence issues listed in London are replaced by 2023 after KPMG has been replaced by new auditorys in the 2022 results of the 2022 results in about three months.
The good compliance with a bruising run of penalties and fine for KPMG, including its actions in the accounts of collapsed carillion governmental contractor, where it is referred to a Record £ 21mn. The FC said Last year that kpmg makes “great development” in the quality of audits in the present years.
The good notification of Thursday related to KPMGTrusting another, unknown, audit firm to check subsidiary accounts in a carr in year until August 2021.
The FRC says that each person responsible for the subscript audit is on paper in more than five years. The limit is designed to protect the freedom of auditors from their clients.
The smaller audit company also sells taxes and accountancy Advice to the same company, breaking rules that limit how advisory prepares an auditor can be a client.
The FRC investigation only related to KPMG. The regulator says violations are “dishonest, intentional or incessant”. Good KPMG has reduced from £ 1.25mmmn to recognize its interaction in the investigation, saying the regulator “unique”.
A separate fine for KPMG partner in the audit, Nick Plumb, also reduced from £ 70,000 to no £ 39,000.
The Cath Burnet, the head of KPMG UK, said: “We accept that we do not meet the necessary patterns of investigating our recovery to our recovery.”
Plumb refuses to comment. The Carr’s did not immediately respond to a request for commentary.
