KPMG to pay £875k fine over Revolution Bars audit

n determining the sanctions to be imposed, executive counsel said it has taken into account that these were “serious breaches but not intentional, dishonest, deliberate or reckless”

The executive counsel of the Financial Reporting Council (FRC) has fined KPMG LLP £875,000 and imposed further sanctions against it and Michael Frankish in relation to the audits of Revolution Bars Group for the financial years ended 30 June 2015 and the 53 weeks ended 2 July 2016.

According to the FRC, KPMG and Frankish have accepted failures in their work on the audits of the company.

Back to top button