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US accounting watchdog hits KPMG Netherlands with $25 million over exam cheating -chair

NEW YORK (Reuters) -The U.S. accounting watchdog on Wednesday said it has hit KPMG Netherlands with a $25 million civil penalty, a record for the regulator, in response to "egregious" and widespread exam cheating at the foreign affiliate of the major audit firm. The Public Company Accounting Oversight Board cited widespread improper answer sharing at KPMG Netherlands, as well as "multiple misrepresentations" to the watchdog about knowledge of the misconduct. The PCAOB also ...
Chris Prentice Public Company Accounting Oversight Board
Source: yahoo.com

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