Skip to content

KPMG Director Fined $203,800 for Misleading Audit Inspectors

  • KPMG partner says he misled U.K. audit watchdog review
  • FRC agreed terms of settlement with accounting giant
Updated on

A KPMG LLP boss said he was responsible for misleading the U.K. audit watchdog during an inspection of the financial statements of data services company Regenersis Plc

Stuart Smith, a former audit director, took responsibility for misleading the Financial Reporting Council’s audit quality review and that he was “reckless” as to whether he was misleading inspectors, according to a statement from the watchdog announcing the settlement.