News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Accountancy

Former KPMG auditors agree to suspensions over test cheating

The accounting firm says the sanctions on three of its former staff in the US were expected

Three former partners at KPMG agreed on 18 May to temporary suspensions from public accounting roles over cheating on training exams, the Securities and Exchange Commission said.

The settlement is the latest fallout from an earlier SEC ethics probe that resulted in KPMG paying a $50m civil penalty to resolve. The case involved senior KPMG employees who were accused of using confidential regulatory information to better prepare for oversight examinations and other auditors who allegedly cheated to pass continuing-education tests, the SEC announced in June 2019.

WSJ Logo