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KPMG fined GBP13 million for conflicted advisory work in Silentnight sale

By Fiona Maxwell ( August 5, 2021, 10:13 GMT | Insight) -- KPMG must pay a 13 million-pound fine, plus 2.75 million pounds in legal costs, after an independent tribunal found misconduct in its advisory work for bed retailer Silentnight. The audit giant advised both Silentnight and the private equity company that was proposing to acquire it, in a conflict of interest. Former KPMG partner David Costley-Wood was personally fined half a million pounds.KPMG has been fined 13 million pounds ($18 million) for “very serious” misconduct issues relating to its advisory work with Silentnight. ...

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