Regulator says accountants' audit of jet engine maker failed to report payments to Indian intermediaries KPMG will pay a fine of £3.4m to the accounting regulator after accepting failures in its audit of Rolls-Royce, the British jet engine manufacturer that paid a £500m settlement after bribery allegations. The accountancy firm received a severe reprimand from the regulator, the Financial Reporting Council (FRC), and the firm will have to commission an independent review into the effectiveness...
Regulator says accountants' audit of jet engine maker failed to report payments to Indian intermediaries KPMG will pay a fine of £3.4m to the accounting regulator after accepting failures in its audit of Rolls-Royce, the British jet engine manufacturer that paid a £500m settlement after bribery allegations. The accountancy firm received a severe reprimand from the regulator, the Financial Reporting Council (FRC), and the firm will have to commission an independent review into the effectiveness...
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