View source for KPMG

{{Short description|British Multinational professional services and accounting company firm}}
{{Use dmy dates|date=November 2017}}
{{Infobox company
| name = KPMG International Limited
| logo = KPMG blue logo.svg
| logo_size = 
| type = [[Privately held company]]
| industry = [[Professional services]]
| founded = {{Ubl
  | {{Start date and age|df=yes|1987}}
  | (merger of Peat Marwick International and Klynveld Main Goerdeler)
  | {{start date|1979}} (KMG)
  | {{start date|1925}} (Peat Marwick)
  | {{start date|1897}} (Marwick, Mitchell & Company)
  }}
| founders = {{Ubl
  | William Barclay Peat
  | James Marwick
  | Roger Mitchell
  | Piet Klijnveld
  | Jaap Kraayenhof
  | Reinhard Goerdler
  | Thompson McLintock
  | Frank Wilber Main
  }}
| location = [[15 Canada Square]], [[London]], England, UK
| area_served = Worldwide
| key_people = {{br list | Bill Thomas | (Global Chairman and [[CEO]])}}
| services = {{Ubl
  | [[Actuarial science|Actuarial]]
  | [[Assurance services|Assurance]]
  | [[Financial adviser|Financial]] / [[Legal advice|Legal]] / [[Tax advisor|Tax advice]]
  | [[Consulting]]
  }}
| revenue = {{Increase}} {{US$|38.4 billion|link=yes}} (2024)<ref name="globalrevenuesfy24">{{cite web|url=https://kpmg.com/xx/en/media/press-releases/2024/12/robust-growth-for-kpmg-as-global-revenues-rise-5-percent-to-us-dollar-38-point-4-billion.html |title=Robust growth for KPMG as global revenues rise 5.1% to US$ 38.4 billion |date= 17 December 2024 |access-date=16 January 2025}}</ref>
| num_employees = 275,288 (2024)<ref name="globalrevenuesfy24"/>
| website = {{URL|https://kpmg.com}}
}}

'''KPMG''' is a British [[multinational corporation|multinational]] [[professional services network]], based in [[London]], United Kingdom.<ref>{{Cite web |title=Legal |url=https://kpmg.com/se/sv/misc/legal.html |access-date=2025-03-19 |website=KPMG |language=sv}}</ref> It is one of the [[Big Four accounting firms|Big Four]] accounting firms, along with [[Ernst & Young]] (EY), [[Deloitte]], and [[PwC]]. KPMG is a network of firms in 145 countries with 275,288 employees,<ref name="globalrevenuesfy24" /> affiliated with '''KPMG International Limited,''' a private English company [[Company limited by guarantee|limited by guarantee]].<ref name="governance">{{cite web |date=3 October 2024 |title=Governance – KPMG Global |url=https://kpmg.com/xx/en/misc/governance.html |website=KPMG}}</ref> 

The name "KPMG" stands for "Klynveld Peat Marwick Goerdeler".<ref>{{cite web|url=http://kpmghu.lcc.ch/dbfetch/52616e646f6d4956c247e50a674f62a32f0d015479d0165a302d8f3a286f0314/who_were_kpmg.pdf|title=Who were K, P, M and G?|archive-url=https://web.archive.org/web/20081203043747/http://kpmghu.lcc.ch/dbfetch/52616e646f6d4956c247e50a674f62a32f0d015479d0165a302d8f3a286f0314/who_were_kpmg.pdf|access-date=31 October 2021|archive-date=3 December 2008}}</ref> The initialism was chosen when KMG (Klynveld Main Goerdeler) merged with Peat Marwick in 1987.<ref name="kpmg1987" />

KPMG has three lines of services: [[financial audit]], tax, and [[Management consulting|advisory]].<ref name="globalrevenuesfy22">{{cite web|url=https://home.kpmg/xx/en/home/media/press-releases/2022/12/kpmg-reports-global-revenues-of-usd-35-billion-for-fy22.html |title=KPMG delivers strong global revenues, reporting 14% growth in FY22 |date= 13 December 2022 |access-date=13 December 2022}}</ref> Its tax and advisory services are further divided into various service groups. In the 21st century, various parts of the firm's global network of affiliates have been involved in regulatory actions as well as lawsuits.<ref>{{cite web |author1-link=KPMG |title=Governance |url=https://kpmg.com/xx/en/misc/governance.html |website=KPMG |date=3 September 2020 |access-date=3 October 2024}}</ref><ref name="KPMG International: HQ">{{cite book|url=https://books.google.com/books?id=5ui1jGUq__AC&q=kpmg+global+headquarters+No&pg=PA308 |title=Your Planning Resource with Useful Tips and Techniques| page= 308|publisher=John Wiley|year=2008|isbn=978-0787996611}}</ref>

== History ==
=== Early years and mergers ===
[[File:KPMG HQ Amstelveen Netherlands.jpg|thumb|KPMG office in Amstelveen, Netherlands]]
[[File:BuildingFPM41.jpg|thumb|alt=Copyright to https://www.skinde.pt/pt/projetos/fpm41-edificio-de-escritorios-lisboa|KPMG offices at FPM41, [[Lisbon]], Portugal]]

In 1816, Robert Fletcher started working as an accountant, and in 1839 the firm he worked for changed its name to Robert Fletcher & Co.<ref>Curtis Jenkins Cornwell & Co: A Study in Professional Origins, 1816-1966, SVP Cornwell, Garland Publishing, 1991</ref> [[William Barclay Peat]] joined the firm in 1870 at 17 and became head of the firm in 1891, renamed William Barclay Peat & Co. by then.<ref name="history">{{cite web | url = https://home.kpmg.com/nl/en/home/about/overview/history.html |title=KPMG History|date=13 September 2021|publisher=KPMG}}</ref> In 1877, Thomson McLintock founded Thomson McLintock & Co in Glasgow.<ref name="history"/> In 1897, Marwick Mitchell & Co. was founded by [[James Marwick]] and Roger Mitchell in [[New York City]]. In 1899, Ferdinand William LaFrentz founded the American Audit Company in New York.<ref name="New York State Society of Certified Public Accountants: Foundation of a Profession">{{cite book|url=https://books.google.com/books?id=W8Z2a53DJ2cC&q=FW+LaFrentz+%26+Co&pg=PA212|title=New York State Society of Certified Public Accountants: Foundation of a Profession|page=212|first=Julia|last=Grant|year=1995|publisher=Routledge|isbn=978-0815322382}}</ref> In 1923, the American Audit Company was renamed FW LaFrentz & Co.<ref name="New York State Society of Certified Public Accountants: Foundation of a Profession"/>

In about 1913, Frank Wilber Main founded Main & Co. in [[Pittsburgh, Pennsylvania|Pittsburgh]].<ref>{{cite web|url=https://www.newspapers.com/newspage/87969871/|date=16 February 1914|publisher= Pittsburgh Daily Post, Pittsburgh, Pennsylvania|page=11|title=Newspaper article|access-date=28 June 2016}}</ref> In March 1917, [[Piet Klijnveld]] and Jaap Kraayenhof opened an accounting firm called [[Klynveld Kraayenhof & Co.]] in Amsterdam.<ref name="history"/>

In 1925, William Barclay Peat & Co. and Marwick Mitchell & Co., merged to form Peat Marwick Mitchell & Co.<ref>[https://www.icaew.com/~/media/Files/Library/subjects/accounting-history/family-trees/family-tree-peat-marwick-mclintock.pdf Family tree: Peat Marwick McLintock] ICEAW</ref> Peat Marwick Mitchell & Co. was based at No. 11 Ironmonger Lane in London,<ref>{{cite web|url=https://www.icaew.com/library/historical-resources/accounting-historians-guide-to-london|title=Accounting Historians' Guide to London|publisher=Institute of Chartered Accountants in England and Wales|access-date=17 April 2025}}</ref> before moving to Puddle Dock in London in 1976.<ref>{{cite web|url=https://files.taylorandfrancis.com/rabr-map.pdf|title=Accounting Historian's Map of London|publisher=Taylor and Francis|access-date=17 April 2025}}</ref>

In 1963, Main LaFrentz & Co was formed by the merger of Main & Co and FW LaFrentz & Co. In 1969, Thomson McLintock and Main LaFrentz merged to form McLintock Main LaFrentz International,<ref>{{cite web|url=http://www.victoria.ac.nz/sacl/about/events/past-events2/past-conferences/6ahic/publications/6AHIC-68_FINAL_paper.pdf|title=The forces of deinstiutionalisation and demise|access-date=28 June 2016|archive-url=https://web.archive.org/web/20160804091342/http://www.victoria.ac.nz/sacl/about/events/past-events2/past-conferences/6ahic/publications/6AHIC-68_FINAL_paper.pdf|archive-date=4 August 2016|url-status=dead}}</ref> and McLintock Main LaFrentz International absorbed the general practice of Grace, Ryland & Co.<ref name="Chartered Accountants in England and Wales: A Guide to Historical Records"/>{{efn|In 1818, John Moxham opened a company in [[Bristol]].<ref name="Chartered Accountants in England and Wales: A Guide to Historical Records">{{cite book | url = https://books.google.com/books?id=gy-8AAAAIAAJ&q=Grace%2C+Darbyshire%2C+%26+Todd&pg=PA133 | title = Chartered Accountants in England and Wales: A Guide to Historical Records|publisher=Manchester University Press|year=1994|page=133| isbn = 9780719042294}}</ref> James Grace and James Grace Jr. bought John Moxham & Co. and renamed it James Grace & Son in 1857.<ref name="Chartered Accountants in England and Wales: A Guide to Historical Records"/> In 1861, Henry Grace joined James Jr., and the company was renamed James & Henry Grace; the firm evolved to become Grace, Ryland & Co.<ref name="Chartered Accountants in England and Wales: A Guide to Historical Records"/>}}

In 1979, [[Klynveld Kraayenhof & Co.]] (Netherlands), McLintock Main LaFrentz (United Kingdom / United States), and Deutsche Treuhand-Gesellschaft (Germany) formed KMG (Klynveld Main Goerdeler) as a grouping of independent national practices to create a strong European-based international firm.<ref name="history"/> Deutsche Treuhand-Gesellschaft CEO [[Reinhard Goerdeler]] became the first CEO of KMG.  In the United States, Main Lafrentz & Co. merged with Hurdman and Cranstoun to form Main Hurdman & Cranstoun.<ref>{{cite web|url=http://www.accountingin.com/accounting-historians-journal/volume-19-number-1/the-development-of-the-big-eight-accounting-firms-in-the-united-states-1900-to-1990/|title=The Development of "The Big Eight" Accounting Firms in the United States, 1900 to 1990|publisher=Accounting Information|access-date=28 January 2017|archive-url=https://web.archive.org/web/20170202110528/http://www.accountingin.com/accounting-historians-journal/volume-19-number-1/the-development-of-the-big-eight-accounting-firms-in-the-united-states-1900-to-1990/|archive-date=2 February 2017|url-status=dead}}</ref>

In 1987, KMG and Peat Marwick joined forces in the first mega-merger of large accounting firms and formed a firm called KPMG in the United States and most of the rest of the world and Peat Marwick McLintock in the United Kingdom.<ref name=kpmg1987>{{cite web|url=https://www.latimes.com/archives/la-xpm-1986-09-04-fi-13794-story.html|title=Merger to Create World's Biggest Accounting Firm : Parent Firms of Peat Marwick and KMG Main Hurdman Reach an Agreement; Would Surpass Arthur Andersen|date=4 September 1986|work=Los Angeles Times|access-date=8 August 2020}}</ref> From 1984 Peat Marwick was the first, largest, and for some time the only large corporate customer of the [[Apple Macintosh]],<ref name="sullivan19850520">{{Cite magazine |last=Sullivan |first=Kathleen |date=1985-05-20 |title=MIS panel: Windows not the answer |url=https://books.google.com/books?id=ygHfUXZWXlcC&pg=PA47 |access-date=2025-06-07 |magazine=Computerworld |pages=47,54 |volume=XIX |issue=20}}</ref><ref name="kawasaki20170503">{{Cite web |last=Kawasaki |first=Guy |author-link=Guy Kawasaki |date=2017-05-03 |title=Peat-Marwick, For Example |url=https://www.linkedin.com/pulse/peat-marwick-example-guy-kawasaki/ |access-date=2025-05-05 |website=LinkedIn |language=en}}</ref> and the combined company retained the computer.<ref name="neales19880725">{{Cite news |last=Neales |first=Sue |date=1988-07-25 |title=KPMG SETTLES FOR APPLE'S MACINTOSH |url=https://www.afr.com/politics/kpmg-settles-for-apples-macintosh-19880725-k2wsu |archive-url=https://archive.today/20250505212704/https://www.afr.com/politics/kpmg-settles-for-apples-macintosh-19880725-k2wsu |archive-date=2025-05-05 |access-date=2025-05-05 |work=Australian Financial Review}}</ref>

In the Netherlands, due to the merger between PMI and KMG in 1988, PMI [[tax advisor]]s joined Meijburg & Co. (The tax advisory agency Meijburg & Co. was founded by Willem Meijburg, Inspector of National Taxes, in 1939). Today, the Netherlands is the only country with two member firms of KPMG International: KPMG Audit (accountants) and Meijburg & Co (tax consultants).<ref>{{cite web|url=https://meijburg.com/page/history|title=Meijburg & Co – History|access-date=23 August 2017|archive-url=https://web.archive.org/web/20170823165812/https://meijburg.com/page/history|archive-date=23 August 2017|url-status=dead}}</ref>

In 1991, the firm was renamed KPMG Peat Marwick, and in 1999, the name was reduced again to KPMG.<ref>Note: KPMG derived from predecessor company founders: Piet '''K'''lijnveld, William Barclay '''P'''eat, James '''M'''arwick, and Reinhard '''G'''oerdeler.</ref>

In October 1997, KPMG and [[Ernst & Young]] announced they would merge.<ref>{{cite news |url=https://www.baltimoresun.com/1997/10/21/ernst-young-kpmg-peat-marwick-to-merge-new-company-would-be-largest-accounting-consulting-firm-in-world-financial-services/ |title=Ernst & Young, KPMG Peat Marwick to merge New company would be largest accounting, consulting firm in world |work=[[The Baltimore Sun]] |date=21 October 1997 |access-date=5 September 2014 |archive-date=13 April 2015 |archive-url=https://web.archive.org/web/20150413004856/http://articles.baltimoresun.com/1997-10-21/business/1997294011_1_kpmg-peat-ernst-young-merger |url-status=live }}</ref><ref>{{cite news|url=https://www.nytimes.com/1997/12/22/business/kpmg-partners-vote-for-ernst-merger.html |title=KPMG Partners Vote For Ernst Merger |work=[[The New York Times]] |date=22 December 1997 |access-date=5 September 2014 }}</ref> However, while the merger to form [[PwC]] was granted regulatory approval, the KPMG/Ernst & Young tie-up was later abandoned.<ref>{{cite news|url=https://news.bbc.co.uk/2/hi/business/56509.stm |title=Accountancy merger off |work=[[BBC News]] |date=13 February 1998 |access-date=5 September 2014 }}</ref><ref>{{cite news|url=https://www.independent.co.uk/news/business/kmpg-and-ernst-call-off-18bn-accountancy-megamerger-1144724.html |title=KMPG and Ernst call off $18bn accountancy mega-merger  |work=[[The Independent]] |date=14 February 1998 |access-date=5 September 2014 }}</ref>

=== Recent history ===
[[File:KPMG in Kamloops, Canada.jpg|thumb|right|KPMG building in [[Kamloops]], British Columbia, Canada]]
In 2001, KPMG [[Corporate spin-off|spun off]] its United States [[consulting firm]] through an [[initial public offering]] of KPMG Consulting, which was rebranded [[BearingPoint]].<ref>{{cite news |url=http://www.itworld.com/021002bearingpoint |title=KPMG Consulting becomes BearingPoint |date=2 October 2002 |access-date=5 September 2014 |work=ITworld |archive-url=https://web.archive.org/web/20120922101930/http://www.itworld.com/021002bearingpoint |archive-date=22 September 2012 |url-status=dead }}</ref> In early 2009, BearingPoint filed for [[Chapter 11 bankruptcy]] protection.<ref>{{cite news|url=https://www.washingtonpost.com/wp-dyn/content/article/2009/02/18/AR2009021801973.html |title=BearingPoint Seeks Bankruptcy Protection |newspaper=[[The Washington Post]] | first=Alejandro |last=Lazo |date=19 February 2009}}</ref> The UK and Dutch consulting arms were sold to [[Atos]] in 2002.<ref>{{cite news|url=https://www.telegraph.co.uk/finance/2764590/KPMG-stuns-with-French-Atos-sale.html |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/finance/2764590/KPMG-stuns-with-French-Atos-sale.html |archive-date=11 January 2022 |url-access=subscription |url-status=live |title=KPMG stuns with French Atos sale |work=[[The Daily Telegraph|The Telegraph]] |date=6 June 2002 |access-date=5 September 2014 |first=Philip |last=Aldrick}}{{cbignore}}</ref>

In 2003, KPMG divested itself of its legal arm, Klegal<ref>{{cite news|url=https://www.legalweek.com/legal-week/news/1164145/kpmg-ditches-legal-ambitions-klegal-split |title=KPMG ditches legal ambitions in KLegal split |work=[[Legal Week]] |date=6 November 2003 |access-date=5 September 2014}}</ref> and KPMG sold its Dispute Advisory Services to [[FTI Consulting]].<ref>{{cite web |url=http://ir.fticonsulting.com/phoenix.zhtml?c=82634&p=irol-newsArticle_Print&ID=1090748 |title=FTI Consulting Completes Acquisition of Dispute Advisory Services Business Of KPMG |publisher=FTI Consulting |date=3 November 2003 |access-date=5 September 2014 |archive-url=https://web.archive.org/web/20190322130009/http://ir.fticonsulting.com/phoenix.zhtml?c=82634&p=irol-newsArticle_Print&ID=1090748 |archive-date=22 March 2019 |url-status=dead }}</ref>

KPMG's member firms in the United Kingdom, Germany, [[Switzerland]] and [[Liechtenstein]] merged to form KPMG Europe LLP in October 2007.<ref>{{cite web |last1=Lomas |first1=Ulrika |title=KPMG Swiss Merger To Create Europe's Largest Accountancy Firm |url=https://www.tax-news.com/news/KPMG_Swiss_Merger_To_Create_Europes_Largest_Accountancy_Firm____27706.html |website=Tax-News |publisher=Wolters Kluwer |access-date=7 May 2021 |date=26 June 2007|url-status=usurped |archive-url=https://web.archive.org/web/20210508020405/https://www.tax-news.com/news/KPMG_Swiss_Merger_To_Create_Europes_Largest_Accountancy_Firm____27706.html |archive-date=8 May 2021}}</ref> These member firms were followed by [[Spain]], [[Belgium]], the [[Netherlands]], [[Luxembourg]], [[Commonwealth of Independent States|CIS]] ([[Azerbaijan]], [[Russia]], [[Ukraine]], [[Belarus]], [[Kyrgyzstan]], [[Kazakhstan]], [[Armenia]] and [[Georgia (country)|Georgia]]), [[Turkey]], [[Norway]], and [[Saudi Arabia]].<ref>{{cite web |url=http://www.consultant-news.com/article_display.aspx?p=adp&id=7325 |title=Norway and Saudi Arabia to join KPMG Europe LLP |publisher=Consultant-news.com |date=1 November 2010 |access-date=5 September 2014 |archive-url=https://web.archive.org/web/20150320035023/http://www.consultant-news.com/article_display.aspx?p=adp&id=7325 |archive-date=20 March 2015 |url-status=dead }}</ref><ref>{{cite web |url=http://www.kpmg.com/be/en/issuesandinsights/articlespublications/the-kpmg-difference/pages/norway-and-saudi-arabia-to-join-kpmg-europe-llp.aspx |archive-url=https://archive.today/20140904215236/http://www.kpmg.com/be/en/issuesandinsights/articlespublications/the-kpmg-difference/pages/norway-and-saudi-arabia-to-join-kpmg-europe-llp.aspx |url-status=dead |archive-date=4 September 2014 |title=Norway and Saudi Arabia to join KPMG Europe LLP |publisher=KPMG International |date=30 November 2010 |access-date=5 September 2014 }}</ref> They appointed joint Chairmen, John Griffith-Jones and Ralf Nonnenmacher.<ref name="history"/>

In 2008, KPMG was the preferred employer among the Big Four accounting firms according to CollegeGrad.com.<ref>{{cite web |date=5 March 2008 |title=KPMG Named the Top Big Four Accounting Firm by CollegeGrad.com |url=https://www.collegegrad.com/press/big-four.shtml |access-date=5 September 2014 |publisher=CollegeGrad.com}}</ref> It was also ranked No. 4 on the list of "50 Best Places to Launch a Career" in 2009 according to ''[[Bloomberg Businessweek]]''.<ref>{{cite web |last=Lavelle |first=Louis |title=Best Places to Launch a Career (2009) |url=http://images.businessweek.com/ss/09/09/0903_places_to_launch_a_career/5.htm |url-status=dead |archive-url=https://web.archive.org/web/20141011050653/http://images.businessweek.com/ss/09/09/0903_places_to_launch_a_career/5.htm |archive-date=11 October 2014 |access-date=5 September 2014 |work=[[Bloomberg Businessweek]]}}</ref>

In 2020, KPMG International Limited was incorporated in London, England.<ref name=governance/>

In February 2021, Bill Michael resigned as chairman of KPMG UK after criticism of remarks made during an internal meeting. Bina Mehta, a senior partner, was appointed acting chair, while Mary O'Connor, head of clients and markets, became acting senior partner and chief executive, making her the first woman to lead the firm in the UK. Two months later, O'Connor left after being passed over for the permanent role, which went to Jon Holt.<ref>{{cite news |title=KPMG Chair Resigns Days After Slamming 'Victim Card' Staff |url=https://www.bloomberg.com/news/articles/2021-02-12/kpmg-chair-resigns-days-after-slamming-victim-card-staff |work=Bloomberg |date=12 February 2021 |access-date=17 October 2025}}</ref><ref>{{cite news |title=KPMG U.K. Picks New CEO After Predecessor's 'Victim Card' Remark |url=https://www.bloomberg.com/news/articles/2021-04-12/kpmg-u-k-picks-new-ceo-after-predecessor-s-victim-card-remark |work=Bloomberg |date=12 April 2021 |access-date=17 October 2025}}</ref>

In November 2021, KPMG UK was reported as having revised its partnership process to introduce five levels of partnership which required partners to inject capital at levels starting at £150,000 and going up to £500,000. This, along with the £115 million proceeds from the sale of its pensions business earlier in 2021, which it seems was not distributed to the partners, was intended to prepare the balance sheet for a potential large fine (up to £1 billion) arising out of the [[Carillion]] lawsuit.<ref>{{Cite news|last=Booth|first=James|date=November 29, 2021|title=KPMG taps partners for extra cash ahead of £1bn Carillion claim|work=The Financial News|url=https://www.fnlondon.com/articles/kpmg-taps-partners-for-extra-cash-ahead-of-1bn-carillion-claim-20211129|access-date=January 16, 2022}}</ref>

In April 2022, it was announced that KPMG will acquire 50% of the UK-based venture capital advisory specialist Acceleris subject to approval from the Financial Conduct Authority.<ref>{{cite news|date=27 April 2022|url=https://news.sky.com/story/kpmg-to-cash-in-on-tech-funding-boom-with-new-venture-12599938|title=KPMG to cash in on tech funding boom with new venture|work=[[Sky News]]|access-date=28 April 2022}}</ref>

In August 2022, KPMG announced plans to downsize its office footprint in New York City in 2025, when it moves its offices in the city from Midtown Manhattan to [[Manhattan West#Two Manhattan West|Two Manhattan West]] in [[Hudson Yards, Manhattan|Hudson Yards]].<ref>{{cite news |last1=Putzier |first1=Konrad |title=KPMG to Cut Manhattan Office Space in Move to New U.S. Headquarters at Hudson Yards |url=https://www.wsj.com/articles/kpmg-to-cut-manhattan-office-space-in-move-to-new-u-s-headquarters-at-hudson-yards-11661270438 |access-date=24 August 2022 |work=[[The Wall Street Journal]] |date=23 August 2022}}</ref>

In May 2024, KPMG partners approved the merger of its UK and Switzerland firms, which are working across audit, legal, tax, and advisory, and generating $4.4 billion annually.<ref>{{cite news|date=24 May 2024|url=https://www.fnlondon.com/articles/kpmg-uk-and-switzerland-partners-vote-to-merge-12959d7b|title=KPMG UK and Switzerland partners approve $4.4bm merger|work=[[Financial News]]|access-date=25 May 2024}}</ref>

In November 2024, KPMG announced that it would spend $100 million over the next four years to boost its enterprise artificial intelligence services via a partnership with Alphabet's [[Google Cloud Platform|Google Cloud]]. This is an attempt to leverage Google products in the workplace, develop AI agents and overall make the workforce familiar with the technology.<ref>{{Cite web |date=November 20, 2024 |title=KPMG to spend $100 million on AI partnership with Google Cloud |website=[[Reuters]] |url=https://www.reuters.com/technology/artificial-intelligence/kpmg-spend-100-million-ai-partnership-with-google-cloud-2024-11-20/}}</ref>

In February 2025, KPMG US removed from its website the diversity reports it had been publishing since 2020 as part of a broader effort to abandon the firm's [[Diversity, equity, and inclusion|DEI]] targets.<ref>{{Cite news |last=Foley |first=Stephen |date=2025-02-19 |title=KPMG's US business removes diversity reports from its website after Trump onslaught |url=https://www.ft.com/content/668f67d0-eafe-4970-9e9a-210015a8919d |url-access=subscription |access-date=2025-02-19 |work=Financial Times}}</ref>

== Global structure ==
Each national KPMG firm is an independent legal entity and is a member of KPMG International Limited, a UK Limited Company incorporated in London, United Kingdom. KPMG International changed its legal structure from a [[Swiss Verein]] to a [[co-operative]] under Swiss law in 2003<ref>[http://hrazg.ch/ Handelsregister des Kantons Zug] {{Webarchive|url=https://web.archive.org/web/20070329094011/http://www.hrazg.ch/ |date=29 March 2007 }} (Registration Number CH-020.6.900.276-5)</ref> and to a limited company in 2020.<ref name=governance/>

This structure in which the Limited company provides support services only to the member firms is similar to other [[professional services networks]]. The member firms provide the services to the client. The purpose is to limit the liability of each independent member.<ref>This is illustrated in the cases involving [[Parmalat]] where clients sought to hold Deloitte (the Swiss Verein) and Grant Thornton International (a UK company providing administrative services to its members) liable for the negligence of other member firms.</ref>

KPMG's global chairman is Bill Thomas, former senior partner and CEO of Canadian member firm KPMG LLP.<ref>{{cite web|url=https://home.kpmg.com/xx/en/home/contacts/t/william-b-thomas.html|title=William B. Thomas|publisher=KPMG|access-date=15 May 2018}}</ref>

Some KPMG member firms are registered as multidisciplinary entities that also provide legal services in certain jurisdictions.<ref>{{cite web|url=http://abovethelaw.com/2014/11/alt-legal-all-your-profits-are-belong-to-us/|title=All Your Profits Are Belong To Us|publisher=Above the law|date=5 November 2014|access-date=6 November 2014}}</ref>

In [[India]], where regulations do not permit foreign auditing firms to operate,<ref name="et">{{cite news |title=Deloitte, KPMG have no licence to do audit work in India |url=https://economictimes.indiatimes.com/tech/software/deloitte-kpmg-have-no-licence-to-do-audit-work-in-india/articleshow/3986506.cms |access-date=29 September 2018 |newspaper=Economic Times |date=16 January 2009}}</ref> KPMG is licensed as an [[investment bank]] and carries out audits under the name of BSR & Co, an auditing firm KPMG purchased after the 1992 [[economic liberalisation in India|liberalisation of the Indian economy]].<ref name="ie29sep">{{cite news |title=SFIO names KPMG arm in Reebok chargesheet |url=https://indianexpress.com/article/business/business-others/sfio-names-kpmg-arm-in-reebok-chargesheet/ |access-date=29 September 2018 |newspaper=The Indian Express |date=29 September 2018}}</ref>

During March 2022, in response to the [[Russian invasion of Ukraine]], KPMG announced that their Russian and Belarusian firms would leave the KPMG network.<ref>{{Cite web |url=https://www.ft.com/content/be3d59a3-d9b2-4303-946d-d61d32c2ff08 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/be3d59a3-d9b2-4303-946d-d61d32c2ff08 |archive-date=10 December 2022 |url-access=subscription|title=PwC and KPMG exit Russia and Belarus in wake of Ukraine invasion|publisher=Financial Times|date=6 March 2022|access-date=21 March 2022}}</ref>

== Services ==
{{See also|Big Four accounting firms#Revenue comparison}}
KPMG is organised into the following three service lines that generated $38.4 billion in revenue (the 2024 revenue shares are listed in parentheses):<ref name="globalrevenuesfy24" />

* [[Audit]] ($13.4 billion)
* [[Management consulting|Advisory]] ($16.3 billion)
* [[Tax|Tax and Legal Services]] ($8.7 billion)

Tax arrangements relating to [[tax avoidance]] and multinational corporations and Luxembourg which were negotiated by KPMG became public in 2014 in the so-called [[Luxembourg Leaks]].<ref>{{cite news|url=https://www.bbc.com/news/world-europe-30412293|title= Disney and Skype 'used Luxembourg tax deals'|agency=BBC News|date=10 December 2014|access-date=18 January 2015}}</ref>

==Lawsuits==
===Tax shelter fraud===
{{Main|KPMG tax shelter fraud}}
In 2003, the IRS issued summonses to KPMG for information about certain tax shelters and their investors.<ref name=NYT280805/> In February 2004, the US Justice Department commenced a criminal inquiry.<ref name=NYT280805>{{cite news|last1=Browning|first1=Lynnley|title=How an Accounting Firm Went From Resistance to Resignation|work=The New York Times|date=28 August 2005}}</ref> The United States member firm, KPMG LLP, was accused by the [[United States Department of Justice]] of fraud in marketing abusive tax shelters. KPMG fired or forced the retirement of over a dozen who were involved.<ref>{{cite news|last1=Johnson|first1=Carrie|title=KPMG Nears Agreement On Tax-Shelter Abuses|newspaper=The Washington Post|date=23 August 2005}}</ref> KPMG LLP admitted criminal wrongdoing in creating fraudulent tax shelters to help wealthy clients avoid $2.5 billion in taxes between 1996 and 2002, and agreed to pay $456 million in penalties to avoid indictment. Under the [[deferred prosecution agreement]], KPMG LLP would not face criminal prosecution if it complied with the terms of its agreement with the government. On 3 January 2007, the criminal conspiracy charges against KPMG were dropped.<ref>{{cite news|first=Carrie |last=Johnson | url=https://www.washingtonpost.com/wp-dyn/content/article/2007/01/03/AR2007010301883.html |title=Charge Against KPMG Dropped |newspaper=[[The Washington Post]] |date=4 January 2007 |access-date=8 September 2014}}</ref>

=== Microsoft tax evasion ===
In 2012, KPMG brokered a deal for Microsoft with the government of Puerto Rico to give them a tax rate of nearly 0%, allowing Microsoft to sell its intellectual property to a 85-person local factory. It took years for the IRS to unravel the scheme, a "Rube Goldberg machine that channeled at least $39 billion in profits to Puerto Rico".<ref>{{Cite web |last=Kiel |first=Paul |title=The IRS Decided to Get Tough Against Microsoft. Microsoft Got Tougher. |url=https://www.propublica.org/article/the-irs-decided-to-get-tough-against-microsoft-microsoft-got-tougher |access-date=2023-05-11 |website=ProPublica |date=22 January 2020 |language=en}}</ref>

===HBOS audit role===
The [[HBOS]] accounts were published in February 2008 and six months later HBOS had to be rescued by Lloyds Bank. One reason for undertaking an investigation into the audit was that the audit did not reveal the HBOS Reading branch fraud.<ref>{{cite web|url=https://www.standard.co.uk/business/mps-press-for-a-probe-into-kpmg-over-hbos-reading-a3869601.html |title=MPs press for a probe into KPMG over HBOS Reading|date= 22 June 2018|newspaper=Evening Standard|access-date=27 May 2022}}</ref> HBOS, and subsequently Lloyds Bank, accountant Sally Masterton wrote the Project Lord Turnbull Report which described how the Bank and other organizations reacted to the Reading Branch fraud and was highly critical of the firm.<ref>{{cite web|url=https://www.appgbanking.org.uk/wp-content/uploads/2019/05/Lord-Turnbull-DRAFT09012014-docx.pdf|title=Project Lord Turnbull: Operation Hornet|publisher=All Party Parliamentary Group on Fair Business Banking|date=1 September 2013|access-date=28 May 2022|archive-date=17 February 2022|archive-url=https://web.archive.org/web/20220217183235/https://www.appgbanking.org.uk/wp-content/uploads/2019/05/Lord-Turnbull-DRAFT09012014-docx.pdf|url-status=dead}}</ref> However, the audit was investigated by the FRC which concluded, "there was not a realistic prospect that a tribunal would make an adverse finding against KPMG in respect of the matters within the scope of the investigation", and "The firm's work did not fall significantly short of the standards reasonably to be expected of the audit, the test that a tribunal would apply".<ref>{{cite news|url=https://www.theguardian.com/business/2017/sep/19/kpmg-cleared-in-hbos-audit-investigation |title=KPMG cleared by watchdog in HBOS audit investigation |newspaper= The Guardian|date=22 September 2017|access-date=22 May 2022}}</ref>

===Carillion audit role===
In January 2018, it was announced that KPMG, auditor of collapsed UK construction firm [[Carillion]], would have its role examined by the [[Financial Reporting Council]] (FRC),<ref>{{cite news|url=https://www.telegraph.co.uk/business/2018/01/15/carillion-auditor-kpmg-faces-scrutiny-approving-books-months/ |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/business/2018/01/15/carillion-auditor-kpmg-faces-scrutiny-approving-books-months/ |archive-date=11 January 2022 |url-access=subscription |url-status=live|title=Carillion auditor KPMG faces scrutiny for approving books months before collapse|date=15 January 2018|newspaper=The Telegraph|access-date=20 January 2018}}{{cbignore}}</ref> and it was summoned to give evidence before two House of Commons select committees on 22 February 2018.<ref>{{cite web|url=https://www.parliament.uk/business/committees/committees-a-z/commons-select/work-and-pensions-committee/news-parliament-2017/carillion-big-four-17-19/|title=Committees publish responses from Big Four on Carillion|publisher=UK Parliament|date=13 February 2018|access-date=13 February 2018}}</ref> The final report of the Parliamentary inquiry into Carillion's collapse, published on 16 May 2018,<ref name="Davies-16May2018">{{cite news|last1=Davies|first1=Rob|title='Recklessness, hubris and greed' – Carillion slammed by MPs|url=https://www.theguardian.com/business/2018/may/16/recklessness-hubris-and-greed-carillion-slammed-by-mps|access-date=16 May 2018|work=Guardian|date=16 May 2018}}</ref> criticised KPMG for its "complicity" in the company's financial reporting practices.<ref name="Carillion report conclusion">{{cite book|title=Carillion: Second Joint report from the Business, Energy and Industrial Strategy and Work and Pensions Committees of Session 2017–19|url=https://publications.parliament.uk/pa/cm201719/cmselect/cmworpen/769/769.pdf|date=2018|publisher=House of Commons|location=London|pages=90–91|access-date=16 May 2018|archive-date=3 December 2020|archive-url=https://web.archive.org/web/20201203151433/https://publications.parliament.uk/pa/cm201719/cmselect/cmworpen/769/769.pdf|url-status=dead}}</ref> In January 2019, KPMG announced it had suspended the partner that led Carillion's audit and three members of his team;<ref name="Morby-21Jan2019">{{cite news |last1=Morby |first1=Aaron |title=KPMG suspends Carillion's lead auditor |url=https://www.constructionenquirer.com/2019/01/21/kpmg-suspends-carillions-lead-auditor/ |access-date=21 January 2019 |work=Construction Enquirer |date=21 January 2019}}</ref> in August 2021, an FRC disciplinary panel was scheduled for 10 January 2022 to hear a formal complaint against KPMG and former KPMG partner Peter Meehan regarding the provision of allegedly false and misleading information concerning the 2016 Carillion audit.<ref name="TCI-01Sep2021">{{cite news |title=Carillion auditor faces disciplinary tribunal |url=https://www.theconstructionindex.co.uk/news/view/carillion-auditor-faces-disciplinary-tribunal |access-date=1 September 2021 |work=The Construction Index |date=1 September 2021}}</ref> 

The tribunal convened to hear the formal complaint started on 10 January 2022.<ref>{{Cite news|last=O'Dwyer|first=Michael|date=September 1, 2021|title=KPMG accused of misleading regulator over Carillion audit|work=The Financial Times|url=https://www.ft.com/content/bdb7ab3c-12be-4641-99d4-31b80dc96283 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/bdb7ab3c-12be-4641-99d4-31b80dc96283 |archive-date=10 December 2022|url-access=subscription|access-date=November 29, 2021}}</ref> At the disciplinary hearing, KPMG's UK chief executive Jon Holt said the firm had discovered misconduct by it staff in its own internal investigations, and immediately reported it to the FRC.<ref name="Morby-11Jan2022">{{cite news|last1=Morby|first1=Aaron|date=11 January 2022|title=KPMG admits financial regulator misled in Carillion audits|work=Construction Enquirer|url=https://www.constructionenquirer.com/2022/01/11/kpmg-admits-financial-regulator-misled-in-carillion-audits/|access-date=11 January 2022}}</ref> Following the FRC tribunal, KPMG was fined £14.4m (one of the biggest penalties in UK audit history) for misconduct relating to its audit of Carillion and another firm, and received a "severe reprimand" from the regulator. KPMG were also ordered to pay £3.95m in costs.<ref name="Prior-25Jul2022">{{cite news |last1=Prior |first1=Grant |title=KPMG fined £14.4m for Carillion audits |url=https://www.constructionenquirer.com/2022/07/25/kpmg-fined-14-4m-for-carillion-audits/ |access-date=26 July 2022 |work=Construction Enquirer |date=25 July 2022}}</ref> 

The tribunal heard allegations that KPMG staff created false meeting minutes and retroactively edited spreadsheets before sharing them. A further tribunal will consider penalties for individual KPMG staff, including partner Peter Meehan; the FRC recommended that he be banned for 15 years and fined at least £400,000.<ref name="Gayne-16May2022">{{cite news |last1=Gayne |first1=Daniel |title=KPMG to pay £14.4m for misleading regulator on Carillion audit |url=https://www.building.co.uk/news/kpmg-to-pay-144m-for-misleading-regulator-on-carillion-audit/5117522.article |access-date=20 May 2022 |work=Building |date=16 May 2022}}</ref><ref name=Makortoff/> In July 2022, it was announced that he had been fined £250,000 and banned for ten years; three other former KPMG executives also received fines and lengthy bans.<ref name="TCI-26Jul2022">{{cite news |title=Carillion auditor KPMG receives record fine |url=https://www.theconstructionindex.co.uk/news/view/carillion-auditor-kpmg-receives-record-fine |access-date=26 July 2022 |work=The Construction Index |date=26 July 2022}}</ref> A junior member of KPMG staff, Pratik Paw—who, aged 25, had been the most junior member of the Carillion audit team—faced a "life changing" fine of £50,000 and a four-year ban, prompting critics to suggest that accounting firms should enable junior colleagues to challenge their superiors, so that low ranking workers are not blamed for accounting scandals.<ref name="Goss-20May2022">{{cite news |last1=Goss |first1=Louis |title=KPMG should take blame for Carillion scandal, not junior accountant Pratik Paw, critics say |url=https://www.cityam.com/kpmg-should-take-blame-for-carillion-scandal-not-junior-accountant-pratik-paw-critics-say/ |access-date=20 May 2022 |work=City AM |date=20 May 2022}}</ref><ref name="Pooley-18May2022">{{cite news |last1=Rutter Pooley |first1=Cat |title=KPMG's Carillion case should worry juniors across the City |url=https://www.ft.com/content/8bd9587b-e5df-4b68-a108-8bafeddc9669 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/8bd9587b-e5df-4b68-a108-8bafeddc9669 |archive-date=10 December 2022 |url-access=subscription |access-date=20 May 2022 |work=Financial Times |date=18 May 2022}}</ref> Ultimately, Paw was not fined or suspended but was severely reprimanded.<ref name="TCI-26Jul2022"/>

The FRC opened a second investigation into how KPMG audited Carillion's accounts.<ref name="Jones-22Jan2019">{{cite news|last1=Jones|first1=Huw|date=22 January 2019|title=KPMG subject of second UK investigation over Carillion audit|work=Reuters|url=https://uk.reuters.com/article/uk-carillion-accounts-regulator/kpmg-subject-of-second-uk-investigation-over-carillion-audit-idUKKCN1PG0L4|archive-url=https://web.archive.org/web/20190122075645/https://uk.reuters.com/article/uk-carillion-accounts-regulator/kpmg-subject-of-second-uk-investigation-over-carillion-audit-idUKKCN1PG0L4|url-status=dead|archive-date=22 January 2019|access-date=22 January 2019}}</ref> The FRC's first report, which found a number of breaches, was delivered to KPMG in September 2020; the FRC was awaiting a KPMG response before deciding whether to take enforcement action.<ref name="Nicolle-21Sep2020">{{cite news |last1=Nicolle |first1=Emily |title=UK watchdog to accuse KPMG of breaches in Carillion audit |url=https://www.cityam.com/uk-watchdog-to-accuse-kpmg-of-breaches-in-carillion-audit/ |access-date=21 September 2020 |work=City AM |date=21 September 2020}}</ref> In March 2021, KPMG was reported to be "inching towards a financial settlement with regulators" over its auditing of Carillion, with the FRC expected to impose a record fine, possibly around £25m, on KPMG for its failings.<ref name="Kleinman-18Mar2021">{{cite news |last1=Kleinman |first1=Mark |title=KPMG inches towards settlement with audit regulator over Carillion collapse |url=https://news.sky.com/story/kpmg-inches-towards-settlement-with-audit-regulator-over-carillion-collapse-12249933 |access-date=19 March 2021 |work=Sky News |date=18 March 2021}}</ref>

In May 2020, the ''FT'' reported that the Official Receiver was preparing to sue KPMG for £250m over alleged negligence in its audits of Carillion.<ref name="Kinder-12May2020">{{cite news|last1=Kinder|first1=Tabby|date=12 May 2020|title=KPMG faces £250m negligence lawsuit over Carillion|work=Financial Times|url=https://www.ft.com/content/3b10ca83-7818-46d5-b492-8c86857ebd33 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/3b10ca83-7818-46d5-b492-8c86857ebd33 |archive-date=10 December 2022|url-access=subscription|access-date=13 May 2020}}</ref> In May 2021, the liquidator secured funding for its legal action,<ref name="Price-21May2021">{{cite news|last1=Price|first1=David|date=21 May 2021|title=Carillion's liquidator gets funding for £250m legal claim|work=Construction News|url=https://www.constructionnews.co.uk/contractors/carillion/carillions-liquidator-gets-funding-for-250m-legal-claim-21-05-2021/|access-date=21 May 2021}}</ref> with speculation that the likely damages claim could be as much as £2 billion.<ref name="Booth-01Sep2021">{{cite news|last1=Booth|first1=James|date=1 September 2021|title=KPMG could face £2bn legal claim over Carillion collapse|work=Financial News|url=https://www.fnlondon.com/articles/kpmg-could-face-2bn-legal-claim-over-carillion-collapse-20210901|access-date=1 September 2021}}</ref> In February 2022, Sky News reported the Official Receiver's claim would be in the range of £1bn-£1.5bn, with one source suggesting around £1.2bn.<ref name="Sky-02Feb2022">{{cite news|last1=Kleinman|first1=Mark|date=2 February 2022|title=Carillion liquidator's claim against KPMG to seek over £1bn in damages|work=Sky News|url=https://news.sky.com/story/carillion-liquidators-claim-against-kpmg-to-seek-over-1bn-in-damages-12531256|access-date=3 February 2022}}</ref> The OR's negligence claim focuses on the value of major contracts which were not properly accounted for in audits in 2014, 2015 and 2016, resulting in misstatements in excess of £800m within Carillion's financial reports. KPMG was said to have accepted management explanations for inflated revenue and understated cost positions. The OR had received legal advice that KPMG was answerable to Carillion's creditors for a portion of their losses. KPMG said: "We believe this claim is without merit and we will robustly defend the case. Responsibility for the failure of Carillion lies solely with the company's board and management, who set the strategy and ran the business."<ref name="Prior-04Feb2022">{{cite news|last1=Prior|first1=Grant|date=4 February 2022|title=KPMG being sued for £1.3bn over Carillion audit|work=Construction Enquirer|url=https://www.constructionenquirer.com/2022/02/03/kpmg-being-sued-for-1-3bn-over-carillion-audit/|access-date=4 February 2022}}</ref> The claim, for £1.3 billion (US$1.77 billion), accused KPMG of missing "red flags" during audits of Carillion, in one of the largest claims against an audit firm.<ref>{{Cite news|last=Ridley|first=Kristin|date=February 3, 2022|title=KPMG sued for $1.8 bln over Carillion audits|work=Reuters|url=https://www.reuters.com/business/kpmg-sued-18-bln-over-carillion-audit-2022-02-03/|access-date=February 5, 2022}}</ref> 

In November 2022, the OR said KPMG had "failed to respond" to Carillion allegations that it had failed to properly audit the accounting of 20 significant construction contracts. KPMG reiterated that Carillion's failure was solely the fault of the company's board and management.<ref name="Gerrard-28Nov2022">{{cite news |last1=Gerrard |first1=Neil |title=Carillion: Auditor 'failed to respond' to accusations of failings |url=https://constructionmanagement.co.uk/carillion-auditor-failed-to-respond-to-accusations-of-failings/ |access-date=29 November 2022 |work=Construction Management |date=28 November 2022}}</ref> In February 2023, ''[[The Guardian]]'' reported that KPMG had settled the £1.3bn lawsuit brought by Carillion's liquidators;<ref>{{cite news|url=https://www.theguardian.com/business/2023/feb/17/kpmg-pays-13bn-to-settle-negligent-auditing-claim-by-carillion-creditors | title=KPMG settles £1.3bn lawsuit from Carillion creditors over alleged negligence |first=Kalyeena|last=Makortoff|magazine=The Guardian|date=17 February 2023|access-date=17 February 2023}}</ref> details of the settlement were not made public.<ref name="CM-20Feb2023">{{cite news |title=KPMG settles Carillion lawsuit for undisclosed sum |url=https://constructionmanagement.co.uk/kpmg-settles-carillion-lawsuit-for-undisclosed-sum/ |access-date=21 February 2023 |work=Construction Manager |date=20 February 2023}}</ref>

In October 2023, the [[Financial Reporting Council]] fined KPMG UK £21 million, saying it had failed to follow "the most basic and fundamental audit concepts" and an "unusually large number of breaches" had been found. For three years before the collapse Carillion was not subject to reliable audits. KPMG UK will also pay legal costs of about £5.3 million. The previous year a £14.4m penalty had been imposed on KPMG UK for providing misleading information to the regulator.<ref name=guardian-20231012>{{cite news |url=https://www.theguardian.com/business/2023/oct/12/kpmg-fined-record-21m-over-carillion-audit-failures |title=KPMG boss says Carillion auditing was 'very bad' as firm is fined record £21m |last1=Kollewe |first1=Julia |last2=Makortoff |first2=Kalyeena |newspaper=The Guardian |date=12 October 2023 |access-date=12 October 2023}}</ref>

===2017 South African corruption scandal===
{{See also|Gupta family#Uranium interests, Nhlanhla Nene, Pravin Gordhan and KPMG}}
In 2017, KPMG was embroiled in related scandals involving the [[Gupta family]].<ref>{{Cite news|url=https://www.biznews.com/global-investing/2017/07/11/mckinsey-guptaleaks-south-africans/|title=South Africans urge US law-enforcers to bring Gupta and friends down with McKinsey – BizNews.com|date=11 July 2017|work=BizNews.com|access-date=12 July 2017|archive-date=27 April 2019|archive-url=https://web.archive.org/web/20190427140010/https://www.biznews.com/global-investing/2017/07/11/mckinsey-guptaleaks-south-africans|url-status=dead}}</ref> KPMG, whose history in South Africa dated back to 1895, and which had been part of the international organization since its founding in 1979,<ref>{{cite web|url=https://home.kpmg.com/za/en/home/about/history.html|title=History|publisher=KPMG South Africa|access-date=29 September 2017|archive-url=https://web.archive.org/web/20170929215434/https://home.kpmg.com/za/en/home/about/history.html|archive-date=29 September 2017|url-status=dead}}</ref> faced calls for closure, and an uncertain future, as a consequence of the damage done to the South African economy as a result of its activities.<ref>{{cite web|url=https://www.moneyweb.co.za/moneyweb-radio/why-i-stepped-away-from-munich-re-of-africa-over-kpmg/|title=KPMG will die a natural death – Abedian|date=15 September 2017|publisher=Moneyweb|access-date=29 September 2017|archive-url=https://web.archive.org/web/20170930035715/https://www.moneyweb.co.za/moneyweb-radio/why-i-stepped-away-from-munich-re-of-africa-over-kpmg/|archive-date=30 September 2017|url-status=dead}}</ref><ref>{{cite news|url=https://www.reuters.com/article/us-kpmg-safrica-exclusive/exclusive-south-africas-central-bank-tells-lenders-that-kpmg-is-too-big-to-fail-idUSKCN1C416G|title=Exclusive: South Africa's central bank tells lenders that KPMG is 'too big to fail'|work=Reuters|access-date=29 September 2017}}</ref>

KPMG had been working with a Gupta family company in the mining sector, Oakbay Resources and Energy, for 15 years prior to the revelations of corruption and collusion in 2016, at which point KPMG resigned. The full impact and financial profit that KPMG received is yet to be determined;<ref name="timesKPMG">{{cite web |url=https://www.timeslive.co.za/sundaytimes/businesstimes/2016/04/04/KPMG-Sasfin-cut-links-with-Gupta-firm |title=KPMG, Sasfin cut links with Gupta firm |publisher=[[Sunday Times (South Africa)|Sunday Times]] |agency=Reuters |date=4 April 2016 |access-date=7 April 2016 |author1=Cropley, Ed |author2=Motsoeneng, Tisetso}}</ref> however, at least one large company has terminated its services with KPMG due to its relationship with Oakbay.<ref name="mgKPMG1">{{cite news |url=https://mg.co.za/article/2017-07-28-00-kpmg-put-through-the-wringer |title=JSE-listed Sygnia fires KPMG over 'Gupta links' |newspaper=[[Mail & Guardian]] |date=28 July 2017 |access-date=30 August 2017 |author=Steyn, Lisa}}</ref>

In July 2017, after controversial documents were leaked by the amaBhungane Centre for Investigative Journalism, former chief executive of KPMG South Africa and the former partner that was responsible for audits related to the Gupta family, Moses Kgosana, withdrew from becoming the chairman of [[Alexander Forbes Group Holdings|Alexander Forbes]], a financial services firm.<ref>{{cite news|last1=Wessels|first1=Vernon|title=Ex-KPMG South Africa Boss Quits New Role to Face Gupta Claims|url=https://www.bloomberg.com/news/articles/2017-07-03/ex-kpmg-south-africa-boss-quits-new-role-to-face-gupta-claims|access-date=22 September 2017|agency=Bloomberg|date=3 July 2017}}</ref><ref>{{cite web|title=Meet unrepentant Gupta tax dodge 'lapdog' Moses Kgosana, KPMG heavyweight (5 July 2017)|url=http://www.biznews.com/guptaleaks/2017/07/05/moses-kgosana-gupta-kpmg/|website=Biznews.com|date=5 July 2017|access-date=22 September 2017|archive-date=23 September 2017|archive-url=https://web.archive.org/web/20170923002644/http://www.biznews.com/guptaleaks/2017/07/05/moses-kgosana-gupta-kpmg/|url-status=dead}}</ref>

In 2015, KPMG issued a controversial report that implicated former Finance Minister [[Pravin Gordhan]] in the creation of an illegal intelligence gathering unit of the [[South African Revenue Service]] (SARS). This report was seen by elements of the media to be part of a wider Gupta-linked [[state capture]] conspiracy, with the aim of forcing Gordhan out of his post.<ref>{{cite web|url=https://www.dailymaverick.co.za/article/2017-07-04-after-the-gupta-wedding-and-the-sars-rogue-unit-report-fiascos-what-future-for-kpmg-in-south-africa/#.WcIo2oyCxPY |title=After the Gupta wedding and the SARS 'Rogue Unit' report fiascos: What future for KPMG in South Africa? |publisher=Daily Maverick |date=4 July 2017 |access-date=21 September 2017}}</ref> The report was withdrawn by KPMG in September 2017,<ref>{{cite web |url=http://www.huffingtonpost.co.za/2017/09/15/kpmg-shocker-audit-firm-disavows-sars-rogue-unit-report-eight-senior-staff-resign_a_23210381/ |title=KPMG Shocker: Audit Firm Disavows Sars 'Rogue Unit' Report, Eight Senior Staff Resign |publisher=Huffingtonpost.co.za |date=15 September 2017 |access-date=21 September 2017 |archive-date=20 September 2017 |archive-url=https://web.archive.org/web/20170920142942/http://www.huffingtonpost.co.za/2017/09/15/kpmg-shocker-audit-firm-disavows-sars-rogue-unit-report-eight-senior-staff-resign_a_23210381/ |url-status=dead }}</ref> earning the ire of the Commissioner of SARS, Tom Moyane.<ref>{{cite web|url=https://www.timeslive.co.za/news/south-africa/2017-09-18-all-out-wars-as-sars-blames-kpmg-for-reputational-damage/|title=All out wars as SARS blames KPMG for reputational damage|date=18 September 2017|publisher=Times Live|access-date=21 September 2017}}</ref>

After an internal investigation that found work done for the Gupta family fell "considerably short" of the firm's standards and amid rising political and public backlash, KPMG's senior leadership in South Africa, including its chairman Ahmed Jaffer, CEO Trevor Hoole, COO Steven Louw, and five partners, resigned in September 2017.<ref>{{cite news|title=KPMG SA leadership axed in wake of Gupta revelations|url=http://www.enca.com/south-africa/kpmg-sa-leadership-axed-in-wake-of-gupta-revelations|access-date=15 September 2017|publisher=ENCA|date=15 September 2017|archive-date=22 January 2018|archive-url=https://web.archive.org/web/20180122203848/http://www.enca.com/south-africa/kpmg-sa-leadership-axed-in-wake-of-gupta-revelations|url-status=dead}}</ref><ref>{{cite news|last1=Brock|first1=Joe|title=KPMG South Africa senior leaders resign over Gupta scandal|url=https://www.independent.co.uk/news/business/news/kpmg-south-africa-gupta-scandal-senior-leaders-resign-auditor-government-contracts-trevor-hoole-a7948286.html|access-date=22 September 2017|work=The Independent|date=15 September 2017}}</ref>

Save South Africa, a civil-society group, accused KPMG and UK PR firm [[Bell Pottinger]] of playing a "central role in facilitating state capture".<ref name="Cotterill-15Sep2017">{{cite news|last1=Cotterill|first1=Joseph|title=KPMG South Africa chiefs resign over Gupta scandal|url=https://www.ft.com/content/ce8ddb84-9a01-11e7-a652-cde3f882dd7b |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/ce8ddb84-9a01-11e7-a652-cde3f882dd7b |archive-date=10 December 2022 |url-status=live|access-date=15 September 2017|work=Financial Times|date=15 September 2017|url-access=subscription}}</ref> Numerous South African companies either fired KPMG in the immediate aftermath of the scandal, or were reconsidering their relationships with the firm<ref>{{cite web |author=Hilton Tarrant / 21 September 2017 |url=https://www.moneyweb.co.za/news/companies-and-deals/hulisani-drops-kpmg-due-to-reputational-risk/ |title=Hulisani drops KPMG due to reputational risk |publisher=Moneyweb |date=13 October 2015 |access-date=21 September 2017 |archive-url=https://web.archive.org/web/20170920053706/https://www.moneyweb.co.za/news/companies-and-deals/hulisani-drops-kpmg-due-to-reputational-risk/ |archive-date=20 September 2017 |url-status=dead }}</ref> with the international chairman of KPMG, John Veihmeyer, apologising for the conduct of the South African arm<ref>{{cite news|url=https://uk.reuters.com/article/uk-kpmg-safrica-chairman/kpmg-international-chairman-apologises-for-south-africa-failings-idUKKCN1BU24O?il=0|archive-url=https://web.archive.org/web/20170920142000/https://uk.reuters.com/article/uk-kpmg-safrica-chairman/kpmg-international-chairman-apologises-for-south-africa-failings-idUKKCN1BU24O?il=0|url-status=dead|archive-date=20 September 2017|title=KPMG international chairman apologises for South Africa failings|date=19 September 2017|work=Reuters|access-date=21 September 2017}}</ref> and the firm pledged to donate fees earned from Gupta businesses, as well as the withdrawn SARS report, to anti-corruption activities.<ref>{{cite web |url=https://www.iol.co.za/news/south-africa/gordhan-jonas-meet-with-kpmg-over-state-capture-11311171 |title=Gordhan, Jonas meet with KPMG over state=== capture &#124; IOL News |publisher=Iol.co.za |date=15 September 2017 |access-date=21 September 2017 |archive-url=https://web.archive.org/web/20170921222157/https://www.iol.co.za/news/south-africa/gordhan-jonas-meet-with-kpmg-over-state-capture-11311171 |archive-date=21 September 2017 |url-status=dead }}</ref>

===Other cases===
;2003
KPMG agreed to pay $125 million and $75 million to settle lawsuits stemming from the firm's audits of [[Rite Aid]] and Oxford Health Plans Inc., respectively.<ref>{{cite web |url=http://articles.baltimoresun.com/2003-03-11/business/0303110155_1_kpmg-llp-rite-aid-oxford |title=China headcount to overtake UK at top firms |work=[[The Baltimore Sun]] |date=11 March 2003 |access-date=5 September 2014 |archive-date=5 September 2014 |archive-url=https://web.archive.org/web/20140905121526/http://articles.baltimoresun.com/2003-03-11/business/0303110155_1_kpmg-llp-rite-aid-oxford |url-status=dead }}</ref>

;2004
KPMG agreed to pay $115 million to settle lawsuits stemming from the collapse of software company [[Lernout & Hauspie]] Speech Products NV.<ref>{{cite magazine |first=Stephen |last=Taub |url=http://www.cfo.com/article.cfm/3282683 |title=KPMG Pays $115 Million to Settle Suit |magazine=[[CFO (magazine)|CFO]] |date=12 October 2004 |access-date=5 September 2014 |archive-url=https://web.archive.org/web/20130703210217/http://www.cfo.com/article.cfm/3282683 |archive-date=3 July 2013 |url-status=dead }}</ref><ref>{{cite web|author=Margaret Cronin Fisk | url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aAJ5X5cK2Z78 |title=KPMG to Pay $115 Mln to Settle Lernout & Hauspie Suit |work=[[Bloomberg News|Bloomberg]] |date=7 October 2004 |access-date=8 September 2014}}</ref>

;2005
During August, KPMG LLP admitted to criminal wrongdoing and agreed to pay US$456 million in fines, restitution, and penalties as part of an agreement to defer prosecution of the firm, according to the [[United States Department of Justice|US Justice Department]] and the [[Internal Revenue Service]]. In addition to the agreement, nine individuals, including six former KPMG partners and the former deputy chairman of the firm, were to be criminally prosecuted.  As alleged in a series of charging documents, the fraud relates to the design, marketing, and implementation of fraudulent tax shelters.<ref>{{Cite web|date=August 29, 2005|title=KPMG to Pay $456 Million for Criminal Violations in Relation to Largest-Ever Tax Shelter Fraud Case|url=https://www.justice.gov/archive/opa/pr/2005/August/05_ag_433.html|access-date=January 23, 2022|website=US Department of Justice}}</ref>

;2006
American real estate financing firm [[Fannie Mae]] sued KPMG for malpractice for approving years of erroneous [[financial statement]]s.<ref>{{cite news | url=https://www.washingtonpost.com/wp-dyn/content/article/2006/12/12/AR2006121201386.html |title=Fannie Sues KPMG for Approving Bad Numbers |newspaper=[[The Washington Post]] |date=13 December 2006 |first=David S. |last=Hilzenrath |access-date=8 September 2014}}</ref>

;2007
In February, KPMG Germany was investigated for ignoring questionable payments in the [[Siemens]] bribery case.<ref>{{cite news|last=Esterl |first=Mike |url=https://online.wsj.com/articles/SB117219374546016790 |title=KPMG Germany's Failure to Spot Siemens Problems Raises Questions |work=[[The Wall Street Journal]] |date=24 February 2007 |access-date=8 September 2014}}</ref> In November 2008, the Siemens Supervisory Board recommended changing auditors from KPMG to Ernst & Young.<ref>{{cite web|url=https://www.easybourse.com/bourse-actualite/marches/siemens-supervisory-board-proposes-ernst-young-as-auditors-570387 |title=Siemens Supervisory Board Proposes Ernst & Young As Auditors |publisher=Easybourse.com |date=10 May 2012 }}{{dead link|date=June 2016|bot=medic}}{{cbignore|bot=medic}}</ref>

In February, KPMG Mauritius was sued by a group of South African pensioners who lost millions when investing in Leaderguard Spot Forex (LSF), a foreign exchange investment scheme backed by KPMG and  Denmark-based [[Saxo Bank]]. The suit against KPMG was just for the portion lost during their involvement.<ref>{{cite news |title=South Africa: Pensioners Sue KPMG Mauritius|url=https://allafrica.com/stories/200710100394.html |work=allafrica.com |access-date=3 August 2022 }}</ref><ref>{{cite news |title=Leaderguard investors to sue KPMG |url=https://www.fanews.co.za/article/people-and-companies/12/news/1163/leaderguard-investors-to-sue-kpmg/6716 |work=www.fanews.co.za |access-date=3 August 2022 }}</ref>

;2008
In March, KPMG was accused of enabling "improper and imprudent practices" at [[New Century Financial]], a failed mortgage company,<ref>{{cite news | url=https://www.nytimes.com/2008/03/26/business/26cnd-account.html?_r=1&hp |title=Report Assails Auditor for Work at Failed Home Lender |work=[[The New York Times]] |date=26 March 2008 |first=Vikas |last=Bajaj |access-date=8 September 2014}}</ref> and KPMG agreed to pay $80 million to settle suits from [[Xerox]] shareholders over manipulated earnings reports.<ref>{{cite web|url=https://online.wsj.com/news/articles/SB120664919040069445 |title=Xerox, KPMG Settle Shareholder Suit |work=[[The Wall Street Journal]] |date=28 March 2008 |access-date=8 September 2014 }}</ref>

In December, it was announced that two of [[Tremont Group]]'s Rye Select funds, audited by KPMG, had $2.37 billion invested with the [[Bernard Madoff|Madoff]] "[[Ponzi scheme]]".<ref>{{cite web|last=Mackintosh |first=James |url=https://www.ft.com/content/e8294d3c-ccef-11dd-9905-000077b07658 |title=Accounting firms drawn into Madoff scandal |work=[[Financial Times]] |date=18 December 2008 |archive-url=https://archive.today/20141207/http://www.ft.com/cms/s/0/e8294d3c-ccef-11dd-9905-000077b07658.html |archive-date=7 December 2014 |url-status=dead}}</ref> Class action suits were filed.<ref>{{cite web |last=Docket |first=Securities |url=http://www.securitiesdocket.com/2008/12/23/madoff-related-class-action-filed-in-sdny-against-tremont-group-kpmg-others/ |title=Madoff-related class action filed in SDNY against Tremont Group, KPMG, others |publisher=Securities Docket |date=20 February 2009 |access-date=25 December 2008 |archive-url=https://web.archive.org/web/20090317075631/http://www.securitiesdocket.com/2008/12/23/madoff-related-class-action-filed-in-sdny-against-tremont-group-kpmg-others/ |archive-date=17 March 2009 |url-status=dead }}</ref>

In March 2008, KPMG employees in the UK and South Africa were accused of bribing and recruiting employees of commercial structures to collect trade secrets for a monetary reward.<ref>{{cite web|last=Mackintosh |first=James |url=https://www.ft.com/content/e8294d3c-ccef-11dd-9905-000077b07658 |title=Accounting firms drawn into Madoff scandal |work=[[Financial Times]] |date=18 December 2008 |archive-url=https://archive.today/20141207/http://www.ft.com/cms/s/0/e8294d3c-ccef-11dd-9905-000077b07658.html |archive-date=7 December 2014 |url-status=dead}}</ref><ref>{{cite web |last=Docket |first=Securities |url=http://www.securitiesdocket.com/2008/12/23/madoff-related-class-action-filed-in-sdny-against-tremont-group-kpmg-others/ |title=Madoff-related class action filed in SDNY against Tremont Group, KPMG, others |publisher=Securities Docket |date=20 February 2009 |access-date=25 December 2008 |archive-url=https://web.archive.org/web/20090317075631/http://www.securitiesdocket.com/2008/12/23/madoff-related-class-action-filed-in-sdny-against-tremont-group-kpmg-others/ |archive-date=17 March 2009 |url-status=dead }}</ref>

;2010
In August, it was reported by the Swedish Financial Supervisory Authority to the Swedish accountancy regulator after HQ Bank was forced into involuntary liquidation after the Financial Supervisory Authority revoked all its licences for breach of banking regulations.<ref>{{cite web |url=http://www.swedishwire.com/component/content/article/1-companies/5977-hq-bank-auditor-kpmg-reported-after-flaws- |title=HQ Bank accountant KPMG reported after flaws |publisher=The Swedish Wire |date=30 August 2010 |access-date=18 November 2010 |archive-url=https://web.archive.org/web/20110716173555/http://www.swedishwire.com/component/content/article/1-companies/5977-hq-bank-auditor-kpmg-reported-after-flaws- |archive-date=16 July 2011 |url-status=dead |df=dmy-all }}</ref>

;2011
In August, KPMG conducted due diligence work on [[Hewlett-Packard]]'s $11.1 billion acquisition of the British software company [[Autonomy Corporation|Autonomy]]. In November 2012 HP announced an $8.8 billion write off due to "serious accounting improprieties" committed by Autonomy management prior to the acquisition.<ref>{{cite web |url=http://www.accountancyage.com/aa/news/2226169/kpmg-conducted-due-diligence-of-deloitte-audit-at-autonomy |title=KPMG conducted due diligence of Deloitte audit at Autonomy |work=Accountancy Age |date=20 November 2012 |first=Rachael |last=Singh |access-date=8 September 2014 |archive-url=https://web.archive.org/web/20140908020850/http://www.accountancyage.com/aa/news/2226169/kpmg-conducted-due-diligence-of-deloitte-audit-at-autonomy |archive-date=8 September 2014 |url-status=dead }}</ref><ref>{{cite news |last=Hardy |first=Quentin |url=https://dealbook.nytimes.com/2012/11/20/h-p-takes-big-hit-on-accounting-improprieties-at-autonomy/ |title=Hewlett's Loss: A Folly Unfolds, by the Numbers |work=[[The New York Times]] |date=20 November 2012 |access-date=8 September 2014 |archive-url=https://web.archive.org/web/20140725010737/http://dealbook.nytimes.com/2012/11/20/h-p-takes-big-hit-on-accounting-improprieties-at-autonomy/ |archive-date=25 July 2014 |url-status=dead }}</ref>

According to an independent panel formed to investigate irregular payments made by [[Olympus Corporation|Olympus]] which reported in December, KPMG's affiliate in Japan did not identify fraud at the company.<ref>{{cite news|url=https://www.nytimes.com/2011/12/07/business/global/banks-aided-in-olympus-cover-up-report-finds.html |title=The Culture Was Corrupt at Olympus, Panel Finds |work=[[The New York Times]] |date=6 December 2011 |access-date=8 September 2014}}</ref>

;2013
In April, Scott London, a former KPMG LLP partner in charge of KPMG's US Los Angeles-based Pacific Southwest audit practice, admitted passing on stock tips about clients, including [[Herbalife]], [[Skechers]], and other companies, to his friend Bryan Shaw, a California jewelry-store owner.<ref name=gpkpmg>{{cite news|url=https://www.latimes.com/business/la-fi-insider-sentencing-20140603-story.html|title=Bryan Shaw Sentenced to Prison in KPMG Insider Trading Case|newspaper=Los Angeles Times|first=Riley|last=Snyder|date=2 June 2014|access-date=2 May 2018}}</ref> In return Shaw gave London $70,000 as well as gifts that included a $12,000 Rolex watch and concert tickets.<ref name=wsj9>{{cite news|last=Rapoport|first=Michael|title=Guilty Plea in KPMG Case|url=https://online.wsj.com/news/articles/SB10001424127887323826804578467333522974930|newspaper=The Wall Street Journal|access-date=8 September 2014 |date=6 May 2013}}</ref><ref name=gpkpmg/> On 6 May, Shaw agreed to plead guilty to one count of conspiracy to commit [[securities fraud]]. He also agreed to pay around $1.3 million in restitution, and to cooperate with the government as part of a plea deal with federal prosecutors.<ref name=R9>{{cite news|last=Flitter|first=Emily|title=Friend of ex-KPMG auditor pleads guilty in insider case|url=https://www.reuters.com/article/us-kpmg-idUSBRE9450SR20130506|work=Reuters|access-date=8 September 2014|date=6 May 2013|archive-date=6 October 2014|archive-url=https://web.archive.org/web/20141006194258/http://www.reuters.com/article/2013/05/06/us-kpmg-idUSBRE9450SR20130506|url-status=live}}</ref> This scandal led KPMG to resign as auditor for Herbalife and Skechers.<ref>{{cite news|url=https://online.wsj.com/news/articles/SB10001424127887323550604578411812224197182 |title=Trading Case Embroils KPMG |work=[[The Wall Street Journal]] |date=9 April 2013 |access-date=8 September 2014}}</ref>

The Office of Counter-Terrorism and Financial Intelligence of the US Department of the Treasury accused KMPG, Ernst & Young and PwC of collaborating with British intelligence services to provide analytical information on financial transactions and reports of British organizations operating in the United States with contract agreements with government agencies.<ref>{{Cite news |last=Thompson |first=Jennifer |date=May 4, 2017 |title=Accounting watchdog to investigate KPMG over Rolls-Royce audits |work=The Financial Times |url=https://www.ft.com/content/bacca773-1c6f-3714-848a-055d4f286947 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/bacca773-1c6f-3714-848a-055d4f286947 |archive-date=10 December 2022 |url-access=subscription |url-status=live |access-date=May 22, 2022}}</ref>

;2015
KPMG was accused by the [[Canada Revenue Agency]] of abetting tax evasion schemes: "The CRA alleges that the KPMG tax structure was in reality a 'sham' that intended to deceive the taxman."<ref>{{cite news|url=https://www.cbc.ca/news/business/kpmg-offshore-sham-deceived-tax-authorities-cra-alleges-1.3209838 |title=KPMG Offshore 'Sham' Deceived Tax Authorities, CRA Alleges |work=cbc.ca |date=10 September 2015 |access-date=11 September 2015}}</ref>

;2016
The [[Canada Revenue Agency]] offered an amnesty to KPMG clients caught using an offshore tax-avoidance scheme on the [[Isle of Man]].<ref>{{cite news|url=https://www.cbc.ca/news/business/cra-kpmg-anger-at-secret-deal-1.3479792|title=Secret tax deal for wealthy KPMG clients sparked anger inside Canada Revenue Agency|publisher=CBC News|date=8 March 2016|access-date=9 March 2016}}</ref>

;2017
KPMG US terminated five partners in its audit practice, including the head of its audit practice in the US, after an investigation of advanced confidential knowledge of planned audit inspections by its [[Public Company Accounting Oversight Board]] (PCAOB).<ref>{{cite web|last1=Michaels|first1=Dave|last2=Rapoport|first2=Michael|title=KPMG partners fired over ethics breach|url=http://www.marketwatch.com/story/kpmg-partners-fired-over-ethics-breach-2017-04-11|website=MarketWatch.com|date=12 April 2017 |access-date=18 April 2017}}</ref><ref name="Dealbook KPMG fires 6"/> This followed criticism about KPMG's failure to uncover illegal sales practices at [[Wells Fargo]] or potential corruption at [[FIFA]], the governing international body of football.<ref name="Dealbook KPMG fires 6">{{cite news|last1=Bray|first1=Chad|title=KPMG Fires 6 Over Ethics Breach on Audit Warnings|url=https://www.nytimes.com/2017/04/12/business/dealbook/kpmg-public-company-accounting-oversight-board.html?_r=0|access-date=18 April 2017|work=The New York Times|date=12 April 2017}}</ref> It was reported in 2017 that KPMG had the highest number of deficiencies, among the [[Big Four accounting firms|Big Four]], cited by its regulator in the previous two years.<ref>{{cite news|last1=Rapoport|first1=Michael|title=Fired KPMG Audit Head: How Did Scott Marcello Fall From Grace?|work=The Wall Street Journal}}</ref> This includes two annual inspections that were compromised as a result of advanced access to inspection information. In March 2019, David Middendorf and Jeffrey Wada, co-defendants in the scandal, were convicted.<ref>{{Cite news|url=https://www.wsj.com/articles/kpmg-ex-partner-convicted-in-steal-the-exam-scandal-11552340232|title=KPMG Ex-Partner Convicted In 'Steal the Exam' Scandal|last=Rapoport|first=Michael|date=2019-03-11|work=[[The Wall Street Journal]]|access-date=2019-03-31|language=en-US|issn=0099-9660}}</ref>

The UK accounting regulator, the Financial Regulation Council (FRC), has opened an investigation into KPMG's audit of the financial statements of British aerospace company [[Rolls-Royce plc]] for the year ended December 2010.<ref>{{Cite news |last=Thompson |first=Jennifer |date=May 4, 2017 |title=Accounting watchdog to investigate KPMG over Rolls-Royce audits |work=The Financial Times |url=https://www.ft.com/content/bacca773-1c6f-3714-848a-055d4f286947 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/bacca773-1c6f-3714-848a-055d4f286947 |archive-date=10 December 2022 |url-access=subscription |url-status=live |access-date=May 22, 2022}}</ref>

In August, KPMG US paid a $6.2 million fine to the [[US Securities and Exchange Commission]] for inadequacies in its audit of the financial statements of oil and gas company, Miller Energy Resources.<ref>{{cite news|url=https://www.reuters.com/article/kpmg-usa-idUSEMN2I780N|title=KPMG to pay more than $6.2 mln to settle U.S. charges -SEC|work=Reuters|date=15 August 2017|access-date=15 August 2017}}</ref> It also found KPMG guilty of a long list of violations with regard to its audits, including "lack of competence" and "highly unreasonable conduct."<ref>{{cite web|url=https://www.sec.gov/litigation/admin/2017/34-81396.pdf|date=15 August 2017|publisher=SEC|title=KPMG LLP and John Riordan, CPA|access-date=11 May 2023}}</ref>

In November, 91 partners of KPMG Hong Kong faced contempt proceedings in [[Hong Kong High Court]], as [[China Medical Technologies]] (CMED) liquidators investigating a $400 million fraud took action against KPMG with regard to its refusal to honor a February 2016 court order to produce Chinese working papers, correspondence, and records to the liquidators.<ref name=II>Costello, Eugene (20 December 2017). [http://www.internationalinvestment.net/regions/asia/several-kpmg-partners-facing-hong-kong-contempt-proceedings/ "KPMG partners facing Hong Kong contempt proceedings,"] {{Webarchive|url=https://web.archive.org/web/20180124072114/http://www.internationalinvestment.net/regions/asia/several-kpmg-partners-facing-hong-kong-contempt-proceedings/ |date=24 January 2018 }} ''International Investment''.</ref><ref name=autogenerated6>Miller, Matthew (20 December 2017). [https://ca.reuters.com/article/businessNews/idCAKBN1EE0HI-OCABS "Exclusive: KPMG partners face court contempt over China audit,"] {{Webarchive|url=https://web.archive.org/web/20180122001015/https://ca.reuters.com/article/businessNews/idCAKBN1EE0HI-OCABS |date=22 January 2018 }} Reuters.</ref><ref>[https://www.scmp.com/business/investor-relations/article/2125119/kpmg-partners-face-court-contempt-proceedings-hong-kong "KPMG partners face court contempt proceedings in Hong Kong over China audit; The accounting firm has refused to hand over audit papers relating to China Medical Technologies despite a 2016 court order,"<!-- Bot generated title -->] {{Webarchive|url=https://web.archive.org/web/20180122074930/http://www.scmp.com/business/investor-relations/article/2125119/kpmg-partners-face-court-contempt-proceedings-hong-kong |date=22 January 2018 }} ''South China Morning Post'', 20 December 2017.</ref><ref>[https://www.reuters.com/article/china-audit-timeline/timeline-u-s-hk-regulators-struggle-to-get-china-audit-papers-idUSKBN1EE0HT "Timeline: U.S., HK regulators struggle to get China audit papers,"] Reuters, 20 December 2017.</ref><ref>[http://www.thestandard.com.hk/section-news.php?id=190982&sid=2 "Contempt hit looms for KPMG,"] {{Webarchive|url=https://web.archive.org/web/20180123131651/http://www.thestandard.com.hk/section-news.php?id=190982&sid=2 |date=23 January 2018 }} ''The Standard'', 21 December 2017.</ref> The liquidators are asking that 91 defendants be held in [[contempt of court]], which could result in criminal penalties, or weekly fines.<ref name=II/>  KPMG had issued written audit reports for CMED from 2003 to 2008, and was replaced by [[PwC]] Zhong Tian in August 2009.<ref name=autogenerated6 /> "Perhaps locking up 91 KPMG partners over Christmas may spur the firms to find a solution to this problem", said Professor Paul Gillis of [[Peking University]]'s [[Guanghua School of Management]].<ref name=II/>

;2018
In July, KPMG came under criticism for its role in the bankruptcy of Dubai-based private equity firm [[The Abraaj Group|Abraaj Group]] after it was determined that KPMG Lower Gulf Chairman and Chief Executive Vijay Malhotra's son had worked at Abraaj and that an executive named Ashish Dave alternated between stints at KPMG and as Abraaj's chief financial officer, a job he held twice.<ref>{{Cite news|last=Clark|first=Simon|date=July 3, 2018|title=KPMG Has Close Ties to Troubled Private Equity Firm|work=[[The Wall Street Journal]]|url=https://www.wsj.com/articles/kpmg-was-key-witness-as-abraaj-unraveled-1530610201|access-date=May 5, 2021}}</ref>

Also in July, the [[Financial Reporting Council]] (FRC) announced an investigation into KPMG’s work for Conviviality, the British drinks supplier that collapsed into administration during April 2018.<ref>{{Cite news|date=July 3, 2018|title=UK's accounting watchdog investigates KPMG|newspaper=The Irish Times|url=https://www.irishtimes.com/business/retail-and-services/uk-s-accounting-watchdog-investigates-kpmg-1.3552400|access-date=May 12, 2021}}</ref>

Also in July, KPMG paid HK$650 million (US$84 million) to settle legal claims after failing to identify fraud at a Chinese timber company, China Forestry.  The liquidators of China Forestry claimed KPMG was negligent when it failed to detect serious false accounting by some of the company’s top management ahead of its listing in 2009.<ref>{{Cite news|last=Kinder|first=Tabby|date=July 19, 2021|title=KPMG settles legal claims after failing to spot fraud at Chinese group|work=The Financial Times|url=https://www.ft.com/content/40a66ec8-d2a1-47d6-a5df-d4414fe75649 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/40a66ec8-d2a1-47d6-a5df-d4414fe75649 |archive-date=10 December 2022 |url-access=subscription |url-status=live|access-date=January 16, 2022}}</ref>

In August, [[Chile]]'s Comision Para El Mercado Financiero (CMF) sanctioned KPMG Auditores Consultores Limitada (KPMG LLP's local affiliate) 3,000 UF (~$114,000), and Joaquín Lira Herreros, its partner, for offences incurred in the audit made to the financial statements of the Aurus Insignia Fondo de Inversión, managed by Aurus Capital S.A. Admnistradora General de Fondos Management (AGF), corresponding to the year 2014.<ref>{{Cite web|date=August 22, 2018|title=The CMF applies sanction against KPMG Auditors|url=https://www.cmfchile.cl/portal/principal/613/w3-article-26175.html|access-date=January 15, 2022|website=Comision Para El Mercado Financiero}}</ref>

In November, the [[Sultanate of Oman]]'s [[Muscat Securities Market|Capital Market Authority (CMA)]] suspended KPMG from auditing entities regulated by the CMA for a period of one year after discovering major financial and accounting irregularities in the entities' records.<ref>[[Times of Oman]], [https://timesofoman.com/article/426702 CMA suspends firm from auditing regulated entities], retrieved on 14 November 2018. Archived at the [https://web.archive.org/web/20181114133638/https://timesofoman.com/article/426702 Wayback machine]</ref><ref>Gulf Business, [http://gulfbusiness.com/oman-regulator-suspends-kpmg-new-auditing-work-irregularities/ Oman regulator suspends KPMG from new auditing work over "irregularities" – A review by the CMA "established professional negligence on the part of some audit firms"], retrieved on 14 November 2018. Archived at the [https://web.archive.org/web/20181114140029/http://gulfbusiness.com/oman-regulator-suspends-kpmg-new-auditing-work-irregularities/ Wayback machine]</ref><ref name="McCance-15Nov2018">{{cite news |last1=McCance |first1=Danny |title=KPMG suspended in Oman |url=https://economia.icaew.com/news/november-2018/kpmg-suspended-in-oman |archive-url=https://web.archive.org/web/20181116085432/https://economia.icaew.com/news/november-2018/kpmg-suspended-in-oman |url-status=dead |archive-date=16 November 2018 |access-date=15 November 2018 |work=Economia |date=15 November 2018 }}</ref>

In December, KPMG South Africa published an open apology for its participation in various scandals in South Africa, including publishing a misleading report that led to the resignation of the South African Finance Minister, involvement with the [[Gupta family]] who have been implicated in corruption scandal with former President Jacob Zuma, and acting as the auditor of [[VBS Mutual Bank]] that collapsed due to fraud.  Its top eight staff resigned during 2017 and its workforce shrank from 3,400 to 2,200.<ref>{{Cite news|last=Sguazzin|first=Anthony|date=December 10, 2018|title=KPMG South Africa Apologizes for Scandals, Seeks Second Chance|work=Bloomberg.com|url=https://www.bloomberg.com/news/articles/2018-12-10/kpmg-south-africa-apologizes-for-scandals-seeks-second-chance|access-date=May 5, 2021}}</ref>

;2019
KPMG were fined £5 million by the [[Financial Reporting Council]] for misconduct shortly after the takeover of the [[Britannia Building Society]] by [[The Co-operative Bank]], particularly relating to the valuation of Britannia's commercial loans and other liabilities. The takeover led to the near collapse of The Co-operative Bank.<ref name=guardian-20190508>{{cite news |url=https://www.theguardian.com/business/2019/may/08/kpmg-severely-reprimanded-for-audit-failings-at-co-op-bank |title=KPMG 'severely reprimanded' for audit failings at Co-op Bank |last=Kollewe |first=Julia |newspaper=The Guardian |date=8 May 2019 |access-date=8 May 2019}}</ref>

KPMG was fined $50 million by the [[U.S. Securities and Exchange Commission]] for illicit use of PCAOB data and cheating on training exams.<ref name=sec2019-95>{{cite news |url=https://www.sec.gov/news/press-release/2019-95 |title=KPMG Paying $50 Million Penalty for Illicit Use of PCAOB Data and Cheating on Training Exams |date=17 June 2019 |access-date=29 May 2022}}</ref><ref>{{Cite web |last=McKenna |first=Francine |title=The KPMG cheating scandal was much more widespread than originally thought |url=https://www.marketwatch.com/story/the-kpmg-cheating-scandal-was-much-more-widespread-than-originally-thought-2019-06-18 |access-date=2023-05-11 |website=MarketWatch |date=18 June 2019 |language=EN-US}}</ref>

In June 2019, KPMG was fined $50 million for altering its past audit work after receiving stolen data from accounting industry watch dog PCAOB. KPMG admitted to its mistakes and as a part of its settlement, it also agreed to hire an independent consultant to review its internal controls.<ref>{{Cite web|url=https://www.afr.com/business/accounting/kpmg-fined-us50m-for-using-stolen-watchdog-data-20190618-p51yrc|title=KPMG fined $US50m for using stolen watchdog data|date=2019-06-18|website=Australian Financial Review|language=en|access-date=2019-06-21}}</ref>

;2020
During April, KPMG UK was fined £455,000 and a senior partner, Nicola Quayle, was fined £29,250 by the Financial Reporting Council for failing to challenge what a client was telling them about certain complex supplier arrangements.<ref>{{Cite web |last=Jones |first=Huw |date=April 2, 2020 |title=KPMG fined 700,000 pounds for failing to challenge client |url=https://www.nasdaq.com/articles/kpmg-fined-700000-pounds-for-failing-to-challenge-client-2020-04-02 |access-date=May 22, 2022 |website=Nasdaq.com}}</ref>

In June, KPMG resigned from the auditor role of British fashion firm Ted Baker plc after the company admitted accounting errors resulting in overstatement of its inventory by up to £58 million.<ref>{{Cite news|date=June 1, 2020|title=KPMG Resigns as Ted Baker Auditor After Accounting Errors|work=Bloomberg|url=https://news.bloombergtax.com/financial-accounting/kpmg-resigns-as-ted-baker-auditor-after-accounting-errors|access-date=May 12, 2021}}</ref>

;2021
In February, the liquidators for the South African bank [[VBS Mutual Bank]] sued KPMG for 863.5 million rand (~US$59 million) over its audit opinion on the now defunct bank.<ref>{{Cite web|date=February 24, 2021|title=KPMG Sued in South Africa for $59.3m Over VBS Audit, BD Says|url=https://news.bloombergtax.com/financial-accounting/kpmg-sued-in-south-africa-for-59-3m-over-vbs-audit-bd-says|access-date=February 13, 2022|website=Bloomberg Tax}}</ref>

In March, KPMG US agreed to pay $10 million to settle a 10-year gender discrimination lawsuit in a New York Federal Court that alleged claims by 450 women that its culture was rife with gender discrimination, sexual harassment, and retaliation.<ref>{{Cite web|last=Gurrieri|first=Vin|date=March 31, 2021|title=KPMG Strikes $10M Deal To End Decadelong Sex Bias Suit|url=https://www.law360.com/articles/1370393|access-date=January 16, 2022|website=Law360.com}}</ref>

During May, members of the Canadian Parliament's House of Commons finance committee re-launched a probe into offshore tax evasion by interviewing Lucia Iacovelli, managing partner at KPMG.<ref>{{Cite news|last=Snyder|first=Jesse|date=May 6, 2021|title=Finance committee relaunches probe into offshore tax evasion with questions over Isle of Man fraud|work=The Financial Post|url=https://nationalpost.com/news/parliamentary-committee-relaunches-probe-into-offshore-tax-evasion-with-questions-over-isle-of-man-fraud|access-date=May 20, 2021}}</ref>

KPMG in the UK was sued for more than £6 million (~€6.9 million, ~US$7.8 million) by property company Mount Anvil which claims it was left with an unexpected tax bill after the firm provided it with negligent advice.<ref>{{Cite news|date=May 9, 2021|title=KPMG in UK sued for £6m by property company Mount Anvil|work=Irish Times|url=https://www.irishtimes.com/business/financial-services/kpmg-in-uk-sued-for-6m-by-property-company-mount-anvil-1.4559694|access-date=February 13, 2022}}</ref>

In July, the [[Financial Reporting Council]] (FRC) criticised KPMG for its "unacceptable" failure to meet required standards in its audits of banks for a third year running. Only 61% of KPMG’s audits sampled by the regulator met industry standards.<ref>{{Cite news|last=O’Dwyer|first=Michael|date=July 22, 2021|title=KPMG criticized for 'unacceptable' bank audits by UK regulator|work=The Financial Times|url= https://www.ft.com/content/fedd96fc-780d-4ddb-85c2-6d41dc2025ab |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/fedd96fc-780d-4ddb-85c2-6d41dc2025ab |archive-date=10 December 2022|access-date=July 23, 2021|url-access=subscription}}</ref>

The Government of [[Malaysia]] and the state sovereign fund, [[1MDB]], launched a lawsuit seeking over $5.6 billion in damages from KPMG partners for alleged breaches and negligence linked to a corruption scandal at the fund.<ref>{{Cite news|last=Latiff|first=Rozanna|date=July 9, 2021|title=Malaysia, 1MDB seeking more than $5.6 bln in damages from KPMG partners|work=Reuters|url=https://www.reuters.com/business/finance/kpmg-denies-alleged-breaches-negligence-after-reported-1mdb-lawsuit-2021-07-09/|access-date=November 7, 2021}}</ref>

South Africa's largest asset manager, the Public Investment Corporation (PIC), sued KPMG for 144 million rand (~U$9.5 million) it lost when the VBS Mutual Bank went bankrupt as a result of fraud.  Its claim is centred on the rights issue and a revolving credit facility it participated in at VBS relying on financial statements audited by KPMG and its former senior partner, Sipho Malaba.<ref>{{Cite news|last=Khumalo|first=Kabelo|date=July 5, 2021|title=PIC sues KPMG for R144m as VBS looting saga continues|work=Sunday World South Africa|url=https://sundayworld.co.za/breaking-news/pic-sues-kpmg-for-r144m-as-vbs-looting-saga-continues/|access-date=February 13, 2022}}</ref>

In August, a tribunal convened by the FRC fined KPMG £13m and ordered it to pay £2.75m in costs. This was because of its serious misconduct in the sale of bed company [[Silentnight]]. The tribunal found that KPMG had helped private equity group [[H.I.G. Capital|H.I.G Capital]] drive Silentnight into an insolvency process, so that HIG could acquire the company without its £100m pension scheme. KPMG was severely reprimanded by the tribunal, and was ordered to appoint an independent reviewer to check a sample of previous cases for similar failings.<ref>{{Cite web|date=21 July 2021|title=KPMG faces record fine over 'conflict of interest' on Silentnight sale|url=https://www.ft.com/content/e8feb32f-7534-4ae4-9b93-6c79d68bfc49 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/e8feb32f-7534-4ae4-9b93-6c79d68bfc49 |archive-date=10 December 2022|access-date=8 August 2021|website=Financial Times|url-access=subscription}}</ref>  The tribunal ruled that KPMG's involvement with Silentnight was "deeply troubling" as it failed to act solely in its client's interests.<ref>{{Cite web|last=Robinson|first=Jon|date=2021-08-05|title=KPMG fined £13m over role in bed maker's sale to private equity firm|url=https://www.business-live.co.uk/professional-services/kpmg-fined-13m-over-role-21230980|access-date=2021-08-08|website=Business Live|language=en}}</ref>

In September, PCAOB fined KPMG Australia $450,000 after it confessed to a cheating scandal involving over 1,100 (almost 12%) of its employees.<ref>{{Cite news|last=Cassidy|first=Caitlin|date=September 12, 2021|title=US watchdog fines KPMG Australia over 'widespread' cheating on online training tests|work=The Guardian|url=https://www.theguardian.com/australia-news/2021/sep/15/us-watchdog-fines-kpmg-australia-over-widespread-cheating-on-online-training-tests|access-date=December 17, 2021}}</ref>

In November, the British litigation financing firm Augusta Ventures announced that it would bankroll three $152.4-million lawsuits in Canada against the previous auditor (KPMG LLP), authorized legal adviser (Cassels Brock & Blackwell LLP) and monetary adviser (Canaccord Genuity Corp) of Cash Store Financial Services Inc., a Canadian payday lender that filed for creditor safety in 2014. Bill Aziz, the litigation trustee for Cash Store, said, "It’s alleged in these lawsuits that KPMG, Cassels Brock and Canaccord triggered over $100-million in damages to Cash Store and its collectors."<ref>{{Cite news|last=Kerr|first=Jarren|date=November 28, 2021|title=Britain-based litigation firm to finance lawsuit against Canadian advisers of failed payday lender|work=The Globe and Mail|url=https://www.theglobeandmail.com/business/article-britain-based-litigation-firm-to-finance-lawsuit-against-canadian/|access-date=November 29, 2021|url-access=subscription}}</ref>

Also in November, KPMG UK was  hit with a £15m lawsuit by insurance outsourcer Watchstone—formerly known as Quindell—over allegations it suffered losses because of the audit firm's negligence in 2013.<ref>{{Cite news|last=Booth|first=James|date=November 30, 2021|title=KPMG hit with £15m lawsuit over Quindell audit failings|work=UK Today News|url=https://todayuknews.com/finance/kpmg-hit-with-15m-lawsuit-over-quindell-audit-failings/|access-date=1 December 2021|archive-date=3 December 2021|archive-url=https://web.archive.org/web/20211203015004/https://todayuknews.com/finance/kpmg-hit-with-15m-lawsuit-over-quindell-audit-failings/|url-status=dead}}</ref>

Also in November, two units of Abraaj that are now in liquidation filed a lawsuit in [[Dubai]] against KPMG LLP for damages of US$600 million alleging that KPMG accountants "failed to maintain independence and an appropriate attitude of professional skepticism," and breached their duty of care when auditing the private-equity firm.<ref>{{Cite news|last=Geor Louch|first=William Patrick|date=November 11, 2021|title=KPMG Sued for $600 Million Over Alleged Sloppy Auditing in Dubai's Abraaj Scandal|work=Bloomberg|url=https://www.bloomberg.com/news/articles/2021-11-11/kpmg-sued-in-dubai-for-600-million-over-alleged-sloppy-auditing|access-date=December 11, 2021}}</ref>

;2022
In January, the [[Malaysia]]n government reported that KPMG's local affiliate had agreed to pay a fine of RM 333 million ($111 million) to settle the case filed against it in connection with the [[1Malaysia Development Berhad scandal|1MDB funds scandal]].<ref>{{Cite news|date=January 13, 2022|title=KPMG pays Malaysian government $111 million settlement over 1MDB audit scandal|work=ABC News – Australia|url=https://www.abc.net.au/news/2022-01-13/malaysia-1mdb-kpmg-settlement/100755620}}</ref>

A group of investors in [[Airbus]], the Dutch foundation Stichting Investor Loss Compensation (SILC), filed a lawsuit against Airbus, KPMG and EY in the Hague District Court alleging they suffered damages worth at least  €300 million (US$340 million) as a result of the company's misleading publications about its involvement in and financial settlements involving corruption, bribery, and other forms of fraud.<ref>{{Cite web|date=January 12, 2022|title=Airbus faces €300mn suit alleging company misconduct|url=https://www.ch-aviation.com/portal/news/111486-airbus-faces-300mn-suit-alleging-company-misconduct|access-date=January 16, 2022|website=Ch Aviation Gmbh, Switzerland}}</ref>

The UK accounting regulator, the [[Financial Reporting Council]] (FRC), fined KPMG £3 million for audit failings at collapsed alcohol retailer [[Conviviality]].<ref>{{Cite news|last=O'Dwyer|first=Michael|date=January 19, 2022|title=Regulator fines KPMG £3m for audit failings at collapsed retailer|work=The Financial Times|url=https://www.ft.com/content/c41f13e9-79cc-4779-bd91-9e77f966f940 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/c41f13e9-79cc-4779-bd91-9e77f966f940 |archive-date=10 December 2022 |url-status=live|access-date=January 19, 2022|url-access=subscription}}</ref>

A settlement agreement between the [[Financial Reporting Council]] and a KPMG partner, Stuart Smith, who led the firm’s audit of IT company Regenersis, later renamed as [[Blancco Technology Group]], resulted in a fine of £150,000 after he admitted misleading its inspectors.<ref>{{Cite news|last=O'Dwyer|first=Michael|date=January 18, 2022|title=KPMG auditor fined and banned for misleading watchdog inspectors|work=The Financial Times|url=https://www.ft.com/content/a48c5e7d-0e24-4ffa-a0b8-af49dd24ca1b |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/a48c5e7d-0e24-4ffa-a0b8-af49dd24ca1b |archive-date=10 December 2022|access-date=January 19, 2022|url-access=subscription}}</ref>

During March, the [[Financial Reporting Council]] (FRC) fined KPMG UK £1.3 million for serious failings within their audits of British bar chain, [[Revolution Bars Group]].<ref>{{Cite news |last=Bradley |first=Gerrard |date=March 8, 2022 |title=KPMG fined £1.3 million for 'serious' breaches over Revolution Bars audit |work=The Evening Standard |url=https://www.standard.co.uk/business/business-news/kpmg-fined-serious-breaches-revolution-bars-audit-b986670.html |access-date=April 28, 2022}}</ref>

The US securities regulator, the [[Securities Exchange Commission]], announced an investigation into conflicts of interest at auditors, including KPMG's US branch, KPMG LLP.<ref>{{Cite news |last=Michaels |first=Dave |date=March 15, 2022 |title=Big Four Accounting Firms Come Under Regulator's Scrutiny |work=The Wall Street Journal |url=https://www.wsj.com/articles/big-four-accounting-firms-come-under-regulators-scrutiny-11647364574?st=qe59v981j2a9x7u&reflink=desktopwebshare_permalink&mod=article_inline |access-date=May 22, 2022|url-access=subscription}}</ref>

During April, the US accounting regulator, PCAOB, fined the former head of KPMG's US audit practice, Scott Marcello, a record US$100,000 for having failed to reasonably supervise senior auditors who engaged in the scheme to improve KPMG’s inspection results.<ref>{{Cite news |last=Maurer |first=Mark |date=April 5, 2022 |title=Fired KPMG Audit Head Fined Over Failure to Supervise Senior Auditors |work=[[The Wall Street Journal]] |url=https://www.wsj.com/articles/fired-kpmg-audit-head-fined-over-failure-to-supervise-senior-auditors-11649193583 |access-date=April 28, 2022}}</ref>

During May, the [[Financial Reporting Council]] confirmed that KPMG would face a £14.4 million (~US$18 million) fine and a severe reprimand over false representations made by KPMG employees to the regulator concerning Carillion. (See 'Carillion audit role' section below).<ref name=Makortoff>{{Cite news |last=Makortoff |first=Kalyeena |date=May 12, 2022 |title=KPMG to be fined £14m for forging documents over Carillion audit |work=The Guardian |url=https://www.theguardian.com/business/2022/may/12/kpmg-fined-frc-audit-carillion?fr=operanews |access-date=May 13, 2022}}</ref>

In May, ''The Times'' reported that the FRC was close to finishing its investigation into KPMG UK's audit of the financial statements of Rolls-Royce plc for the year ended December 2010; the investigation was begun in 2017 and the FRC may fine KPMG UK up to £4.5 million (~US$5.6 million) for questionable audit practices.<ref>{{Cite news |last=Lea |first=Robert |date=May 23, 2022 |title=KPMG faces fine over Rolls-Royce audit |work=[[The Times]] |url=https://www.thetimes.com/business-money/companies/article/kpmg-faces-fine-over-rolls-royce-audit-qt0zq6nw2 |access-date=May 23, 2022 |url-access=subscription}}</ref>

In August, the PCAOB, which reviews audit procedures of foreign firms that audit US-listed entities, fined KPMG South Korea US$500,000 for failing to have proper procedures in place to prevent its auditors from doctoring work papers.  It also fined two of its partners and banned them from working for a PCAOB registered audit firm for three years, as they were found to have improperly altered documents and violated auditing standards during the Big Four firm’s 2018 audit of the Korean business of an unnamed US-listed company.<ref>{{Cite news |last=O'Dwyer |first=Michael |date=17 August 2022 |title=KPMG Korea fined over auditors' misleading of US regulator |work=The Financial Times |url=https://www.ft.com/content/76eadd69-af90-4328-b34b-c779ce35ba97 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/76eadd69-af90-4328-b34b-c779ce35ba97 |archive-date=10 December 2022 |url-access=subscription |url-status=live |access-date=17 August 2022}}</ref>

In September, a lawsuit was filed in the [[High Court of Hong Kong|Hong Kong High Court]] which accused KPMG of "appalling" audit work that allowed a Chinese medical technology company, [[China Medical Technologies]], to commit a US$400 million accounting fraud, and which sought up to US$830 million in damages.<ref>{{Cite news |last=Kinder |first=Tabby |date=5 September 2022 |title=KPMG sued for $830mn over 'appalling' Chinese audit |work=The Financial Times |url=https://www.ft.com/content/07af027a-a1ed-4847-bcfc-263ce9b48a03 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/07af027a-a1ed-4847-bcfc-263ce9b48a03 |archive-date=10 December 2022 |access-date=5 September 2022|url-access=subscription}}</ref>

In October, Dubai Emirate's financial regulator, [[Dubai Financial Services Authority]], handed provisional fines of US$2 million to KPMG's UAE affiliate (US$1.5 million) and one of its audit employees, Milind Navalkar (US$0.5 million), for failing to follow international audit standards in the audit of the failed Dubai-based private equity firm [[The Abraaj Group]].<ref>{{Cite news |last=Kerr |first=Simeon |date=October 3, 2022 |title=Dubai hands out $2mn fine for KPMG's Abraaj audits |work=The Financial Times |url=https://www.ft.com/content/06825678-8fc6-4853-9152-3e0e3f3852b6 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/06825678-8fc6-4853-9152-3e0e3f3852b6 |archive-date=10 December 2022 |url-status=live |access-date=October 3, 2022|url-access=subscription}}</ref>

Also, KPMG affiliate KPMG Lower Gulf's CEO, Nader Haffar, quit consequent to a tumultuous year filled with accusations of nepotism, cronyism and partner discontent.  This was a month after Nader had sent a letter to clients in the UAE and Oman in which the firm’s 30 partners said that they remained united.<ref>{{Cite news |last=O'Dwyer |first=Michael |date=October 12, 2022 |title=KPMG Lower Gulf head quits after months of turmoil |work=The Financial Times |url=https://www.ft.com/content/19fede69-7d1c-44b6-a519-d63b197a98bd |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/19fede69-7d1c-44b6-a519-d63b197a98bd |archive-date=10 December 2022 |url-status=live |access-date=October 22, 2022|url-access=subscription}}</ref>

In addition, the PCAOB fined KPMG's Italian, Dutch and Canadian affiliates approximately US$275,000 for concealing the outsourcing of some audit work to unregulated firms in Poland and Romania.<ref>{{Cite news |last=Foley |first=Stephen |date=October 20, 2022 |title=KPMG flunks US overseas audit inspections twice as often as rivals |work=The Financial Times |url=https://www.ft.com/content/13562fe7-aa23-43a0-b162-ddfb537295c3 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/13562fe7-aa23-43a0-b162-ddfb537295c3 |archive-date=10 December 2022 |url-status=live |access-date=November 23, 2022|url-access=subscription}}</ref>

In November, KPMG UK agreed to pay £5 million (US$6 million) in settlement of a lawsuit by a former client, insurance software firm Quindell, relating to deficient audit work for Quindell (now known as Watchstone) relating to its 2013 financial statements.<ref>{{Cite news |last=O'Dwyer |first=Michael |date=November 14, 2022 |title=KPMG reaches £5mn settlement over Watchstone audit negligence claim |work=The Financial Times |url=https://www.ft.com/content/d677b67f-e2f0-49f4-a753-786fe05d4c7c |access-date=December 21, 2022|url-access=subscription}}</ref>

The Abu Dhabi Accountability Authority (ADAA), which monitors Abu Dhabi government-owned and related entities, removed KPMG’s Lower Gulf affiliate from its list of authorized auditors that can sign off on financial statements.<ref>{{Cite news |last=O’Dwyer |first=Michael |date=November 18, 2022 |title=KPMG blocked from Abu Dhabi audits as it elects new boss |work=The Financial Times |url=https://www.ft.com/content/28705507-d30b-4e12-baa5-57da21c67400 |access-date=December 29, 2022}}</ref>

In December, the PCAOB announced that its inspectors had discovered that hundreds of KPMG employees in the UK and Colombia affiliates cheated on their compliance exams. In addition, inspectors also discovered document alterations to deceive inspectors in KPMG's Colombia affiliate, and blank audit papers signed by an KPMG affiliate audit partner in India.  KPMG LLP agreed to pay US$7.7 million in fines. This follows a US$50 million fine in 2019 where KPMG employees were using data stolen from the PCAOB to identify which audits would be reviewed.<ref>{{Cite news |last=Foley |first=Stephen |date=December 6, 2022 |title=KPMG staff cheated on professional tests, US regulator says |work=The Financial Times |url=https://www.ft.com/content/48931bc2-c1de-4b9f-8dcc-3d398d50354e |access-date=December 21, 2022|url-access=subscription}}</ref>

;2023
In February, KPMG UK confidentially settled the £1.3 billion (US$1.6 billion) lawsuit launched in 2022 by the UK's Official Receiver relating to KPMG's audit of the failed construction firm, Carillion, between 2014 - 2018.<ref>{{Cite news |last=Makortoff |first=Kalyeena |date=February 17, 2023 |title=KPMG settles £1.3bn lawsuit from Carillion creditors over alleged negligence |work=The Guardian |url=https://www.theguardian.com/business/2023/feb/17/kpmg-pays-13bn-to-settle-negligent-auditing-claim-by-carillion-creditors |access-date=March 11, 2023}}</ref>

Also in February, a Disciplinary Tribunal, appointed by the UK's [[Financial Reporting Council]] and led by Sir Stanley Burnton, concluded that members of the audit teams deliberately misled the FRC’s Audit Quality Review (AQR) teams about KPMG’s audits of Carillion plc and Regenersis plc by altering existing documents and by creating entirely new documents during the course of the inspection. This showed, the Tribunal found, a clear intention to mislead the regulator.<ref>{{Cite web |last=Highley |first=Richard |date=February 7, 2023 |title=The FRC Disciplinary Tribunal's Decision in KPMG - Regenersis/Carillion Its significance for junior accountants and audit firms |url=https://www.lexology.com/library/detail.aspx?g=cd6cbfd7-6012-4e3a-b05f-1dc50b7c1770 |access-date=May 25, 2023 |website=Lexology}}</ref>

In April, KPMG Lower Gulf was ordered by a [[Dubai]] court to pay 850 million [[United Arab Emirates dirham|United Arab Emirates dirhams]] (~US$231 million) to a group of investors who claim they lost money because of poor-quality audits of its client, [[The Abraaj Group]].<ref>{{Cite news |last=Louch |first=Will |date=April 16, 2023 |title=Dubai court orders KPMG to pay $231mn for Abraaj fund audit failure |work=The Financial Times |url=https://www.ft.com/content/0843cd97-ca9b-4f8e-b54e-0a7c779d0e8d |access-date=April 16, 2023|url-access=subscription}}</ref>

Also in April, KPMG’s Canadian affiliate was sued for Canadian $1.4 billion (~US$1.1 billion) by [[PwC|PriceWaterhouseCoopers]], the Receiver winding down defunct financing firm [[Bridging Finance Inc.]], for negligently failing to detect and report on misstatements in its financial statements before the firm’s collapse in 2021.<ref>{{Cite news |last=Kiladze |first=Tim |date=April 17, 2023 |title=KPMG faces $1.4-billion lawsuit for alleged role in Bridging Finance's collapse |work=The Globe and Mail |url=https://www.theglobeandmail.com/business/article-lawsuit-bridging-finance-kpmg |access-date=May 5, 2023|url-access=subscription}}</ref>

Also in April, the [[Financial Reporting Council]] fined KPMG's UK affiliate £1 million (~US$1.3 million) for failing to meet audit requirements in the case of the 2020 financial statements of its client, the stationery company [[The Works (retailer)|TheWorks.co.uk plc]], particularly its inventory.<ref>{{Cite news |last=O'Dwyer |first=Michael |date=April 26, 2023 |title=KPMG fined £1mn over 'rudimentary' failures in TheWorks audit |work=The Financial Times |url=https://www.ft.com/content/375cbfdf-5c76-4ef6-b474-a487694e5ccb |access-date=May 15, 2023|url-access=subscription}}</ref>

The [[Financial Reporting Council]] fined KPMG's UK affiliate £875,000 in April (~US$1.1 million) for failing to meet audit requirements in the case of the 2016 financial statements of its client, lighting company Luceco, particularly with regard to inventory cost errors.<ref>{{Cite news |last=Jones |first=Huw |date=April 13, 2023 |title=KPMG fined 875,000 pounds for failures in Luceco audit |work=Reuters |url=https://www.reuters.com/markets/europe/kpmg-fined-875000-pounds-failures-luceco-audit-2023-04-13/ |access-date=May 25, 2023}}</ref>

During May, the PCAOB released inspection reports regarding KPMG's China affiliate KPMG Huazhen LLP that [[Holding Foreign Companies Accountable Act]] (HFCAA) made possible. It concluded that it discovered "deficiencies of such significance that PCAOB staff believe the audit firm failed to obtain sufficient appropriate audit evidence to support its work on the public company’s financial statements or internal control over financial reporting".<ref>{{Cite web |last=Williams |first=Erica |date=May 10, 2023 |title=PCAOB Releases 2022 Inspection Reports for Mainland China, Hong Kong Audit Firms |url=https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-releases-2022-inspection-reports-for-mainland-china-hong-kong-audit-firms |website=Public Company Accounting Oversight Board}}</ref>

During June, the UK accounting regulator [[Financial Reporting Council]] imposed a £877,000 (~US$1.1 million) fine on KPMG's UK affiliate for not satisfying relevant requirements regarding its 2017 audit of the financial statements of the logistics company [[Eddie Stobart Group]].<ref>{{Cite news |last=Aglionby |first=John |date=June 29, 2023 |title=KPMG and PwC fined over Eddie Stobart audits |work=The Financial Times |url=https://www.ft.com/content/462741dc-50c1-4247-8956-d50664c44fcf |access-date=July 19, 2023|url-access=subscription}}</ref>

In July, KPMG Nederland announced that over 100 employees of the Dutch affiliate of KPMG were found to have cheated annually on their exams over the past five years and that its director Marc Hogeboom would also step down as boss of the accounting arm.<ref>{{Cite news |last=Iacone |first=Amanda |date=July 17, 2023 |title=KPMG Netherlands Cheating Scandal Embroils Top Leaders, Staff |work=Bloomberg Tax |url=https://news.bloombergtax.com/financial-accounting/kpmg-netherlands-cheating-scandal-embroils-top-leaders-staff |access-date=July 19, 2023}}</ref>

In August, KPMG Australia was accused by two whistleblowers of submitting inflated invoices and billing the Australian Department of Defence for hours never worked.  KPMG has reportedly charged this department A$1.8 billion (~US$1.2 billion) over the past decade.<ref>{{Cite news |last=Grigg |first=Angus |date=August 6, 2023 |title=Consulting firm KPMG overcharged Defence while raking in billions of dollars, whistleblowers say |work=Four Corners, ABC News |url=https://www.abc.net.au/news/2023-08-07/kpmg-consultants-overcharging-defence-four-corners/102644518 |access-date=August 24, 2023}}</ref>

Also in August, the registration authority of the [[Abu Dhabi Global Market]] imposed a AED110,000 (~US$30,000) penalty on KPMG Lower Gulf for “ineffective systems and controls leading to non-compliance with audit requirements”.<ref>{{Cite news |last=Tamo |first=Omar |date=August 31, 2023 |title=Abu Dhabi Regulator Fines KPMG Lower Gulf for Audit Failings |work=BloombergTax |url=https://news.bloombergtax.com/daily-tax-report-international/abu-dhabi-regulator-fines-kpmg-lower-gulf-for-audit-failings |access-date=September 4, 2023}}</ref>

During November, the PCAOB imposed a fine of US$80,000 on KPMG affiliates in Brazil and Argentina for failing to communicate adequately with their client's audit committees, and a US$500,000 fine on its Japanese affiliate for quality control violations.<ref>{{Cite web |last=PCAOB |date=November 15, 2023 |title=PCAOB Sanctions KPMG AZSA LLC for Quality Control Violations |url=https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-sanctions-kpmg-azsa-llc-for-quality-control-violations|access-date=January 24, 2024 |website=PCAOB}}</ref>

KPMG was criticized for its audits of three regional American banks which collapsed in 2023: [[Signature Bank]], [[First Republic Bank]], and [[Silicon Valley Bank]] (SVB).<ref>{{cite news |last1=Castonguay |first1=Jack |title=Don't Blame KPMG Audits for the Three Regional Bank Breakdowns |url=https://news.bloombergtax.com/tax-insights-and-commentary/dont-blame-kpmg-audits-for-the-three-regional-bank-breakdowns |access-date=14 May 2024 |work=news.bloombergtax.com |language=en}}</ref><ref>{{cite news |title=KPMG Gave SVB, Signature Bank Clean Bill of Health Weeks Before Collapse |url=https://www.wsj.com/articles/kpmg-faces-scrutiny-for-audits-of-svb-and-signature-bank-42dc49dd |access-date=14 May 2024 |work=WSJ |date=March 13, 2023}}</ref> The United States [[Senate Permanent Subcommittee on Investigations|Senate’s Permanent Subcommittee on Investigations]] later released a report which noted the inadequate practices by KPMG, though the firm denies the findings.<ref>{{Cite web |title=Senate report on Silicon Valley Bank rips KPMG, reveals CFO role {{!}} CFO Dive |url=https://www.cfodive.com/news/senate-report-on-silicon-valley-bank-rips-kpmg-reveals-cfo-role/760680/ |access-date=2025-10-10 |website=www.cfodive.com |language=en-US}}</ref>

;2024

In late December 2023 an organisation named Collectif Porteurs H2O, that represents 9,000 individual investors in funds managed by French asset manager, H2O, sued its auditor, KPMG's French affiliate, as being jointly liable, along with H2O, its former parent Natixis, and its custodian CACEIS, for the losses of almost €700 million ($764 million) due to investments in illiquid assets tied to German financier [[Lars Windhorst]]. The UK financial regulator, [[Financial Conduct Authority]], in August made H2O compensate investors to the extent of €250 million ($273 million) and forced H2O to relinquish its UK license. H2O was separately fined €75 million ($82 million) in 2022 by the French regulator, [[Autorité des Marchés Financiers (France)]].<ref>{{Cite news |last=Smith |first=Robert |date=August 7, 2024 |title=H2O Asset Management to pay investors €250mn after FCA finds 'serious breaches' |url=https://on.ft.com/4du8Ijq |access-date=August 9, 2024 |work=The Financial Times}}</ref>

During February, KPMG's South African affiliate is supposed to have entered into a confidential out-of-court settlement of 500 million Rand (~$27 million) with the liquidators of bankrupt South African bank [[VBS Mutual Bank]] in response to their lawsuit against KPMG filed in February 2021 for 863.5 million Rand (~$59 million).<ref>{{Cite news |last=Mantshantsha |first=Sikonathi |date=February 1, 2024 |title=KPMG agrees to cough up R500 million to quash lawsuit for flawed VBS Mutual Bank audit |url=https://www.news24.com/fin24/companies/kpmg-agrees-to-cough-up-r500-million-to-quash-lawsuit-for-flawed-vbs-mutual-bank-audit-20240201 |access-date=March 20, 2024 |work=News24.com|url-access=subscription}}</ref>

In March, KPMG's UK affiliate was fined £1.46 million ($1.9 million) by the [[Financial Reporting Council]] for 'basic failings' in its audit of the 2018 financial statements of advertising agency M&C Saatchi plc.  FRC indicated that KPMG would have been fined £2.25 million ($2.8 million) had it not admitted to the breaches.<ref>{{Cite news |last=Meddings |first=Sabah |date=March 4, 2024 |title=British accounting watchdog fines KPMG $1.9 mn over Saatchi audit failings |url=https://www.business-standard.com/world-news/british-accounting-watchdog-fines-kpmg-1-9-mn-over-saatchi-audit-failings-124030400575_1.html |access-date=March 12, 2024 |work=Business Standard}}</ref>

Also in March, the [[Public Company Accounting Oversight Board]] sanctioned three partners of KPMG China affiliate KPMG Huazhen LLP for violations of audit standards, and fined it $150,000.<ref>{{cite web |title=PCAOB Sanctions Three Partners of KPMG China for Violations of Audit Standards |url=https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-sanctions-three-partners-of-kpmg-china-for-violations-of-audit-standards |website=PCAOB New Release |publisher=PCAOB |access-date=10 August 2024}}</ref>

In April, the PCAOB fined KPMG's Netherlands affiliate, KPMG Accountants N.V, US$25 million for violations of its rules and quality control standards relating to the firm’s internal training program and monitoring of its system of quality control. The PCAOB found that widespread improper answer sharing occurred at the firm over a five-year period and that the firm made multiple misrepresentations to the PCAOB about its knowledge of the misconduct.<ref>{{Cite web |date=April 10, 2024 |title=PCAOB Imposes Record $25 Million Fine on KPMG Netherlands and Bars a Firm Leader After Exam Cheating, Misinforming Investigators |url=https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-imposes-record--25-million-fine-on-kpmg-netherlands-and-bars-a-firm-leader-after-exam-cheating--misinforming-investigators |access-date=April 18, 2024 |website=Public Company Accounting Oversight Board (PCAOB)}}</ref>

KPMG has been criticized over its audit for the distressed [[New York Community Bank]] (NYCB) in light of its passing audits for three regional banks that failed in 2023.<ref>{{cite news |title=KPMG faces fresh questions over audits after New York Community turmoil |url=https://www.americanbanker.com/news/kpmg-faces-fresh-questions-over-audits-after-new-york-community-turmoil |work=American Banker |date=6 March 2024 |language=en}}</ref>

During August, the National Financial Reporting Authority (NFRA), an independent regulatory body in India that oversees the accounting and auditing of companies, fined KPMG's Indian affiliate, BSR & Associates LLP, 10 crore rupees (~$1.2 million) for lapses in auditing the 2018-19 financial statements of the coffee chain Coffee Day Enterprises and barred two of its partners from audit work for up to ten years.  This followed an earlier 2.15 crore rupee (~$0.3 million) fine for similar lapses with a related entity, Coffee Day Global.<ref>{{Cite web |date=August 19, 2024 |title=National Financial Reporting Authority - Orders |url=https://cdnbbsr.s3waas.gov.in/s3e2ad76f2326fbc6b56a45a56c59fafdb/uploads/2024/08/202408191036463933.pdf |access-date=November 5, 2024 |website=National Financial Reporting Authority of India}}</ref>

;2025

During January, the [[Financial Reporting Council]] announced that it has opened an investigation into the 2022 audit of the gambling company Entain, which was conducted by KPMG's UK affiliate.<ref>{{Cite news |last=Davies |first=Rob |date=2025-01-20 |title=KPMG under investigation over audit of gambling company Entain |url=https://www.theguardian.com/business/2025/jan/20/kpmg-investigation-entain-frc |access-date=2025-01-21 |work=The Guardian |language=en-GB |issn=0261-3077}}</ref>

During March, the [[PCAOB]] announced nine settled disciplinary orders sanctioning nine firms from KPMG’s global network (Switzerland, Korea, Australia, Canada, Brazil, Italy, Israel, Mexico and UK) for violations of PCAOB rules and standards, including quality control standards. Each firm consented to a PCAOB order that censures the firm and imposes civil money penalties totaling US$3.375 million.<ref>{{Cite news |date=2025-03-11 |title=PCAOB Sanctions Nine KPMG Global Network Firms for Violations of PCAOB Rules and Standards, Including Quality Control |url=https://pcaobus.org/news-events/news-releases/news-release-detail/pcaob-sanctions-nine-kpmg-global-network-firms-for-violations-of-pcaob-rules-and-standards--including-quality-control |access-date=2025-03-13 |work=PCAOB |language=en-GB }}</ref>

During June, the [[Financial Reporting Council]], announced a fine of £0.69 million (US$0.8 million) on KPMG's UK affiliate as a result of an investigation into auditor independence during the financial audit of UK manufacturing firm Carr’s Group, where KPMG was found to be relying on another firm’s work.<ref>{{Cite news |last=Kissin |first=Ellesheva |date=June 12, 2025 |title=KPMG fined for breaching audit independence rules |url=https://www.ft.com/content/e86c2565-8e55-4041-84f6-0839ee1f63d4 |access-date=August 9, 2025 |work=The Financial Times}}</ref>

==Cultural issues==
Controversies around KPMG Lower Gulf first emerged in July 2022, when staff at the UAE division accused the multinational firm of neglecting multiple complaints filed against the Emirati CEO Nader Haffar.<ref>{{cite news|url=https://www.ft.com/content/4a36d91b-2ba8-4790-8a11-d8b227b5eea5 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/4a36d91b-2ba8-4790-8a11-d8b227b5eea5 |archive-date=10 December 2022 |url-access=subscription |url-status=live|title=Staff accuse KPMG of ignoring complaints about UAE boss|access-date=9 July 2022|website=The Financial Times|date=9 July 2022 |last1=Marriage |first1=Madison |last2=O'Dwyer |first2=Michael }}</ref> The controversy resurfaced in September 2022, when the global bosses were urged to suspend Haffar, citing "[[nepotism]], [[cronyism]] and a culture of fear" under his leadership. In an email sent to KPMG International’s top executives, ten capital partners at the firm’s UAE branch asked them to address the "massive crisis" in the local company. They also raised concerns over the falling profits, affecting their pay. The average profits per partner fell, and they were not paid bonuses for 2021 due to "cash flow issues".<ref>{{cite news|url=https://www.ft.com/content/a3658585-f704-495a-bc0a-62c90d027f55 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/a3658585-f704-495a-bc0a-62c90d027f55 |archive-date=10 December 2022 |url-access=subscription |url-status=live|title=KPMG partners in Dubai seek suspension of local leadership|access-date=16 September 2022|website=The Financial Times|date=16 September 2022 |last1=Kerr |first1=Simeon |last2=Marriage |first2=Madison |last3=O'Dwyer |first3=Michael }}</ref>

In October 2022, the ''[[Financial Times]]'' published a report in which dozens of employees said that unethical employment practices at KPMG [[Saudi Arabia]] were commonplace and had left expatriate staff fearing for their personal safety and struggling with their mental health. Several former employees witnessed colleagues being fired abruptly for no reason, and put this down to hostility towards westerners from the largely Arab leadership team at KPMG Saudi Arabia. Racial tensions within the firm were also a problem, with [[Xenophobia|xenophobic]] language being used towards certain nationalities. The FT viewed copies of three whistleblowing reports sent to KPMG International since 2018, alleging issues in the Saudi Arabia practice, including wrongful terminations, failure to pay staff and concerns about personal safety in the region.<ref>{{cite news|url=https://www.ft.com/content/45f2eda8-9219-4aa5-9434-277d74ea175b |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/45f2eda8-9219-4aa5-9434-277d74ea175b |archive-date=10 December 2022 |url-access=subscription |url-status=live|title=The plight of expat workers at KPMG Saudi Arabia|accessdate=18 October 2022|website=Financial Times|date=18 October 2022 |last1=Marriage |first1=Madison }}</ref>

== Sponsorship ==
[[File:DSCI0058 Flughafen Frankfurt Squaire.jpg|thumb|KPMG Europe headquarters in [[the Squaire]] building over [[Frankfurt Airport long-distance station]]]]
The Swedish member firm was the main sponsor for Swedish [[biathlon|biathlete]] [[Magdalena Forsberg]], six-time world champion and two-time Olympic medalist. Forsberg was working as a tax consultant at the KPMG [[Sundsvall]] office parallel to her athletic career.<ref>{{cite web |url=http://www.aftonbladet.se/sportbladet/article64943.ab |title=''Från skott till skatt'' |work=Aftonbladet |date=24 March 2002 |access-date=22 March 2010 |archive-url=https://web.archive.org/web/20110609064352/http://www.aftonbladet.se/sportbladet/article64943.ab |archive-date=9 June 2011 |url-status=dead }}</ref>

In February 2008, [[Phil Mickelson]], ranked one of the best golfers in the world, signed a three-year global sponsorship deal with KPMG. As part of the agreement, Mickelson was to wear the KPMG logo on his headwear during all golf related appearances.<ref>{{cite web |url=http://www.pgatour.com/news/2008/02/06/mickelson_release.html |title=Mickelson signs agreement with KPMG LLP |publisher=PGA Tour |date=6 February 2008 |access-date=21 June 2015 |archive-date=21 June 2015 |archive-url=https://web.archive.org/web/20150621102320/http://www.pgatour.com/news/2008/02/06/mickelson_release.html |url-status=dead }}</ref> The sponsorship lasted until 22 February 2022, when the two parties mutually split following comments in which Mickelson called [[Saudi Arabia]] "scary" but said he would overlook the country's human rights controversies in the best interest of the [[PGA Tour]].<ref>{{cite web|url=https://www.espn.com/golf/story/_/id/33349367/phil-mickelson-offers-apology-super-gold-league-comments-focus-best-interests-golf |title=Phil Mickelson offers apology for Super Golf League comments, will focus on 'the best interests of golf' |publisher=ESPN|date=22 February 2022}}</ref>

The Canadian member firm sponsored skier [[Alexandre Bilodeau]], who won the first gold medal for Canada on home soil in the [[2010 Vancouver Olympics]]. Bilodeau's father is a tax partner in the Montreal office.<ref name=Bilodeau>{{cite web |url=http://www.thebottomlinenews.ca/index.php?section=article&articleid=438 |title=Golden opportunity for KPMG and skier |last=Kirbyson |first=Geoff |date=April 2010 |work=The Bottom Line |access-date=8 September 2014 |url-status=dead |archive-url=https://web.archive.org/web/20140908022429/http://www.thebottomlinenews.ca/index.php?section=article&articleid=438 |archive-date=8 September 2014 |df=dmy-all }}</ref><ref name=GoingConcern>{{cite web |url=http://goingconcern.com/2010/2/alexandre-bilodeau-kpmg-canadas-phil-mickelson |title=Alexandre Bilodeau Is KPMG Canada's Phil Mickelson |last=Newquist |first=Caleb |date=18 February 2010 |publisher=The Going Concern |access-date=8 September 2014 |archive-url=https://web.archive.org/web/20150621102314/http://goingconcern.com/2010/2/alexandre-bilodeau-kpmg-canadas-phil-mickelson |archive-date=21 June 2015 |url-status=dead }}</ref>

In 2014, KPMG and [[McLaren Technology Group]] formed a ten-year strategic alliance to apply [[McLaren Applied Technologies]]' [[predictive analytics]] and technology to KPMG's audit and advisory services. KPMG's logo was also placed at the engine air intake of the [[McLaren|McLaren F1 team]]'s cars.<ref>{{cite web|url=https://www.consultancy.uk/news/1074/kpmg-mclaren-join-forces-to-transform-services|title=KPMG & McLaren join forces to transform services|date=21 November 2014 |access-date=24 February 2015}}</ref><ref>{{Cite web |date=2015-01-29 |title=McLaren unveils Honda-powered MP4-30 |url=https://www.eurosport.com/formula-1/mclaren-unveils-honda-powered-mp4-30_sto4580592/story.shtml |access-date=2023-06-11 |website=Eurosport |language=en}}</ref> KPMG terminated the partnership in 2017 and McLaren signed a similar partnership with competitor Deloitte.<ref>{{Cite web |last=Sweet |first=Pat |date=16 May 2017 |title=Deloitte takes pole position from KPMG for McLaren F1 technology |url=https://www.accountancydaily.co/deloitte-takes-pole-position-kpmg-mclaren-f1-technology |access-date=2023-06-11 |website=www.accountancydaily.co |language=en}}</ref><ref>{{Cite web |last=Medland |first=Dina |date=May 15, 2017 |title=Deloitte And McLaren Join Forces To Build Data-Driven Business Products |url=https://www.forbes.com/sites/dinamedland/2017/05/15/deloitte-and-mclaren-join-forces-to-build-data-driven-business-products/ |access-date=2023-06-11 |website=Forbes |language=en}}</ref>

Since 2016, KPMG has been a strategic sponsor of [[Brain Bar]], a Budapest-based, annually held festival on the future.<ref>{{cite web|url=https://home.kpmg.com/hu/en/home/events/2016/06/brain-bar.html|title=Brain Bar 2016|date=2 June 2016}}</ref>

== Awards ==
KPMG ranked in the top two overall in Consultancy Rankings 2009 by OpRisk & Compliance, in recognition of KPMG's experience in risk management.<ref>{{cite web|url=http://www.kpmg.com/cn/en/about/awards-rankings/pages/oprisk-compliance-consultancy-rankings.aspx|title=Awards and Rankings – KPMG – CN|date=27 July 2016|access-date=16 November 2016|archive-url=https://web.archive.org/web/20151104060917/http://www.kpmg.com/CN/en/about/Awards-Rankings/Pages/OpRisk-Compliance-Consultancy-Rankings.aspx|archive-date=4 November 2015|url-status=dead}}</ref>

In 2011, the company was ranked second on the World's Best Outsourcing Advisors, in recognition of the firm's depth of experience, global reach and holistic approach.<ref>{{cite news|url=http://www.iaop.org/content/23/152/2042/|title=IOAP 2011 Worlds Best Outsourcing Advisors|access-date=5 September 2014|url-status=dead|archive-url=https://web.archive.org/web/20141002205156/http://www.iaop.org/content/23/152/2042/|archive-date=2 October 2014|df=dmy-all}}</ref> That same year, the company was inducted into Working Mother Hall of Fame after being honored for 15 years as one of Working Mother magazine's 100 Best Companies for Working Mothers.<ref name="workingmother">{{cite web|url=http://www.workingmother.com/best-companies/working-mother-100-best-companies-2011-press-release |title=Working Mother 100 Best Companies for 2011 Press Release |publisher=Working Mother |date=15 September 2011}}</ref> KPMG was ranked number 13 in ''Consulting Magazine'''s Best Firms to Work for in 2016.<ref>{{cite web|url=http://www.consultingmag-digital.com/consultingmag/september_2016?pg=30#pg30|title=KPMG|publisher=Consulting Magazine|access-date=12 November 2016|archive-date=13 November 2016|archive-url=https://web.archive.org/web/20161113121830/http://www.consultingmag-digital.com/consultingmag/september_2016?pg=30#pg30|url-status=usurped}}</ref>

In 2017, KPMG was ranked 29th on the ''Fortune'' list of 100 best companies to work for.<ref>{{cite news|url=https://fortune.com/best-companies/|title=100 Best Companies to Work For|date=2017|access-date=2 May 2018}}</ref> That same year, KPMG, along with [[PwC]], [[Deloitte]], and [[PA Consulting Group]], were ranked among the UK's 25 top companies to work for.<ref>{{cite web|url=https://www.consultancy.uk/news/13506/pwc-deloitte-kpmg-and-pa-among-top-25-uk-companies-to-work-for|title=PwC, Deloitte, KPMG and PA among top 25 UK companies to work for|website=www.consultancy.uk|date=30 May 2017|access-date=30 May 2017}}</ref>

== See also ==
{{Portal|Companies}}
* [[Accounting networks and associations]]
* [[Big Four accounting firms]]
* [[Financial audit]]
* [[FTSE 100 Index]]
* [[Management consulting]]
* [[Professional services]]

== Notes ==
{{notelist}}

== References ==
{{Reflist}}

== External links ==
* {{Commons category-inline}}
* {{URL|https://home.kpmg|Official website}}
{{KPMG|state=expanded}}
{{Big4}}
{{Consulting}}
{{Major information technology consulting and outsourcing companies}}
{{Madoff investment scandal}}{{1MDB}}{{Wirecard}}
{{2008 economic crisis|state=collapsed}}
{{Authority control}}

{{DEFAULTSORT:Kpmg}}
[[Category:KPMG| ]]
[[Category:1818 establishments in England]]
[[Category:Consulting firms established in 1818]]
[[Category:Financial services companies established in 1818]]
[[Category:Organisations based in Amstelveen]]
[[Category:Companies based in North Holland]]
[[Category:Companies based in Zug]]
[[Category:International management consulting firms]]
[[Category:Madoff investment scandal]]
[[Category:Privately held companies of Switzerland]]
[[Category:Accounting firms]]
[[Category:Financial services companies of Canada]]
[[Category:Accounting firms of the United Kingdom]]
[[Category:Accounting firms of the United States]]
[[Category:International accounting firms]]