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NEWS: KPMG hit with $1.5M fine (€1.54M) by Dubai Financial Services Authority over audit failings

By Elizabeth Hearst for AMLi

Global audit heavyweight KPMG has been hit with a $1.5M fine (€1.54M) by the Dubai Financial Services Authority (DFSA), marking the largest ever fine imposed on an auditor by the watchdog. 

In a statement, the DFSA revealed KPMG had been fined due to failings in its audit of Abraaj Capital Limited (ACLD). The DFSA also fined KPMG’s audit partner $500,000 (€513,000).

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