By Elizabeth Hearst for AMLi
One of the world’s largest accountancy firms, KPMG, has found itself in hot water with the UK’s Financial Reporting Council, who concluded the number of audits “requiring improvements”, remained “unacceptably high”.
The watchdog found that “overall inspection results at KPMG did not improve”, adding that it was “unacceptable for the third year running” that “improvements were required” to KPMG’s audits of banks and similar entities.
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