Financial Accounting News

KPMG Shifts 820 U.K. Staff to Audit from Advisory Division: FT

Sept. 26, 2019, 4:20 AM

KPMG moves 20 partners and 800 advisory division staff to its audit unit, the Financial Times reports, citing a person familiar with the company’s internal communications.

  • Co. is preparing for possible forced break up
  • Company told Financial Times it is working on model that gives audit practice greater independence
  • Restructuring to be completed by end of co.’s financial year on Oct. 1
  • Most staff who are moving currently work in technology and development arms

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