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KPMG gets fourth UK fine of year over failure to deal with Rolls-Royce bribery allegations

By Phoebe Seers ( May 24, 2022, 12:50 GMT | Insight) -- KPMG has been fined 3.4 million pounds for serious failings in its 2010 audit of engine-maker Rolls-Royce, in what is its fourth penalty from the UK's sector regulator so far this year. The FRC found that the Big Four auditor lacked professional skepticism in dealing with bribery allegations, which later became the subject of a deferred prosecution agreement between Rolls-Royce and the Serious Fraud Office.KPMG has been fined for serious failings in its 2010 audit of engine-maker Rolls-Royce, in what is its fourth penalty from the UK's sector regulator so far this year. ...

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