By Elizabeth Hearst for AMLi
KPMG’s South Korean entity has been fined $350,000 (€344,505) by the US Public Company Accounting Oversight Board (PCAOB) after the accounting firm failed to establish proper procedures to protect against “improper alterations” of work documents.
The PCAOB’s decision comes after revelations that KPMG auditors had altered work documents during checks on their work, and follows similar fines in the US and the UK, reports the Financial Times.
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