A Big 4 Firm Being Untruthful? You Don’t Say!
From the Financial Times yesterday: A senior KPMG partner advanced an “untruthful” defence at a disciplinary hearing into the accounting firm’s misconduct in the sale of bedmaker Silentnight to a private equity fund, a tribunal has found. The tribunal also found that KPMG and David Costley-Wood, the partner who led the Silentnight work, had failed […]
KPMG Just Missed Getting a Record-Setting Fine In the U.K. By *This* Much
When an independent disciplinary tribunal concluded in June that KPMG U.K. and one of the firm’s partners failed to comply with the fundamental principles of objectivity and integrity in their work on the sale of bed manufacturer Silentnight to U.S. private equity firm HIG Capital in 2011, the panel recommended KPMG be fined a record-setting […]
This Is Not Good, KPMG. Not Good At All.
Here’s some less-than-stellar news about the Queen’s KPMG from today’s Financial Times: KPMG faces a record fine of more than £15m after advising bed manufacturer Silentnight on the sale of its business despite the accountant’s “conflict of interest” with the buyout fund that bought it. An independent tribunal found that KPMG and one of its […]
Before You Ask, PwC and Booz & Co Are Ironing Out the Kinks As We Speak So Just Chill
The news, in case you missed it this morning: PricewaterhouseCoopers said on Wednesday that it had agreed to buy the consulting firm Booz & Company, bolstering its advisory business. Financial terms of the transaction were not disclosed, though Booz & Company is expected to be PricewaterhouseCoopers’s biggest acquisition in several years. Still, the union of […]