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The fine on the auditing firm’s Netherlands unit is the largest ever from the Public Company Accounting Oversight Board

KPMG’s Netherlands unit agreed to pay a $25m fine over claims of exam cheating and misinforming investigators, the largest monetary penalty imposed on an auditing firm by the Public Company Accounting Oversight Board.

The US audit regulator on 10 April said the KPMG member firm, KPMG Accountants, violated its quality control rules relating to the firm’s internal training program and monitoring of its system of quality control.

KPMG fined record $25m in exam-cheating scandal

Mark Maurer, The Wall Street Journal

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European Indexes Fall on Slower U.S. Rate Cut Projections

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