Abu Dhabi’s’s transparency watchdog has blocked KPMG LLP from taking on new audit business, but the firm said Friday that it was “actively engaging” with the emirate’s authorities to restore its standing.
In an emailed statement Friday, KPMG Lower Gulf confirmed that its application to renew its presence on a list of approved auditors had been delayed by the Abu Dhabi Accountability Authority. The news came on the same day that the firm announced a new CEO for its lower Gulf business, and a month after another of the United Arab Emirates, Dubai, fined it for bad auditing. ...
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