The PCAOB (Public Company Accounting Oversight Board) has fined KPMG $3.37 million. The PCAOB imposed the fine due to failures in audit and monitoring processes across nine global offices.
The measure covers the company’s offices in various countries, including Canada, Italy, the United Kingdom, and Mexico.
The PCAOB identified inconsistencies in monitoring and quality processes, as well as issues with the submission of audit forms.
KPMG’s Response
The company, in turn, stated that it had voluntarily corrected these failures and assured that such errors did not affect its clients’ financial statements.
In an official statement, the agribusiness industry expressed regret over communication failures with audit committees.
BP Money, 14/03/2025
