KPMG banking audits fall short of expectations, UK watchdog says
( July 23, 2021, 08:12 GMT | Official Statement) -- MLex Summary: KPMG’s audits of UK banks have been criticized by the Financial Reporting Council, which has said it is “unacceptable” that for the third year running it has found that improvements are needed. The FRC published its annual audit quality inspection results today, and found that 29 percent of audits required either “improvement” or “significant improvement.” The reports cover the seven major audit companies.Statement follows. Reports attached....
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