AuditorRecord

U.S. Securities and Exchange Commission ยท United States

KPMG LLP: fine by U.S. Securities and Exchange Commission

Audit or matter: None (firm conduct, PCAOB inspection information and training exams)

Decision date17 June 2019
SanctionFine
Amount as stated$50 million
StatusFinal
NetworkKPMG

What the regulator found

The SEC charged KPMG with altering past audit work after receiving stolen information about upcoming PCAOB inspections, and found that audit professionals cheated on internal training exams by sharing answers. The SEC said KPMG admitted the facts in the order and agreed to a cease and desist order and to retain an independent consultant to review its ethics and integrity controls.1

Status: Final1

Sources

  1. U.S. Securities and Exchange Commission, KPMG Paying $50 Million Penalty for Illicit Use of PCAOB Data and Cheating on Training Exams (press release 2019-95) (17 June 2019)