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Shattering previous record, KPMG Netherlands to pay $25 million fine for US testing violations, misrepresentations

By Neil Roland ( April 10, 2024, 21:17 GMT | Insight) -- KPMG Netherlands was ordered to pay a $25 million fine, more than three times as high as the largest penalty imposed by the Public Company Accounting Oversight Board, for improper answer sharing by hundreds of professionals on training exams over a five-year period and for multiple misrepresentations to investigators.  During the Biden administration, the PCAOB has sanctioned nine firms for improper sharing of answers on exams. In the case of KPMG Netherlands, improper answer sharing reached as high as partners and senior firm leaders, including the firm's former assurance chief, Marc Hogeboom, who also served on its board.KPMG Netherlands was ordered to pay a $25 million fine, more than three times as high as the largest penalty previously imposed by the Public Company Accounting Oversight Board, for improper answer sharing by hundreds of professionals on training exams over a five-year period and multiple misrepresentations to investigators....

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