Australia Accounting Group to Discipline 12 in KPMG Probe (1)

The professional organization for Australian accountants has found that more than 400 KPMG staff cheated in professional conduct exams, but said Wednesday that it would take disciplinary action against only 12 of them.

Chartered Accountants Australia and New Zealand said in a statement that most cases of the 422 KPMG accountants that had cheated in the professional ethics exams “did not meet the threshold for further action,” and that the sanctions the firm already imposed on the staff were sufficient. Twelve of them will now face individual disciplinary proceedings by the professional body. ...