Accountancy

KPMG hits back at claims it ran ‘dishonest defence’ in Silentnight tribunal

Ex-KPMG partner accused of advancing ‘false narrative’ in disciplinary hearing

Tribunal continues after audit watchdog issues critical report into Big Four firm’s work with mattress company
Tribunal continues after audit watchdog issues critical report into Big Four firm’s work with mattress company Photo: Getty Images/Chris Ratcliffe

A barrister for KPMG has denied the Big Four audit firm deliberately put forward a “dishonest defence” to misconduct claims over its work on the sale of mattress company Silentnight to private equity firm HIG in 2011.

A draft report from the Financial Reporting Council’s disciplinary tribunal found KPMG and its former partner David Costley-Wood had advised both Silentnight and HIG despite an “obvious” conflict of interest between the two businesses between August 2010 and January 2011, a tribunal heard on 21 June.

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