KPMG Australia Penalized by U.S. for Audit Training Cheating (1)

Sept. 14, 2021, 8:46 PMUpdated: Sept. 14, 2021, 10:47 PM

The U.S. audit regulator has sanctioned KPMG International’s Australian affiliate for what it called widespread cheating on internal training for its audit teams.

KPMG Australia agreed to pay $450,000 to settle charges that over several years it violated the Public Company Accounting Oversight Board’s quality control rules—broad requirements that firms have guardrails to ensure staff act with integrity and have relevant skills and training for their work, according to the PCAOB’s settlement order released Tuesday.

  • More than 1,100 KPMG Australia staff members, 12% of the firm’s staff, either received or shared answers to ...

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