KPMG LLP’s U.K. boss acknowledged Wednesday that the accounting firm’s problems were piling up, warning of the danger of “legacy issues"—among them the possibility of a ban on lucrative public contracts and several big lawsuits over botched audits.
“We are taking this very seriously,” Jon Holt, chief executive of KPMG U.K., said by email. “I have been clear that it is my personal priority to deal with our legacy issues, take action and learn from them, and we are fully engaging with the Cabinet Office to demonstrate the changes we have made and are making to our business.”
Holt ...
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