KPMG faces hefty fine over ‘conflict of interest’ in Silentnight sale
Britain’s accounting watchdog called for KPMG’s UK arm to be fined more than £15m over a ‘conflict of interest’ when it advised on the sale of bed maker Silentnight
21 June 2021 - 18:46
London — Britain's accounting watchdog called for KPMG's UK arm to be fined more than £15m ($21m) on Monday over a 'conflict of interest' when it advised on the sale of bed maker Silentnight.
KPMG, which is one of the world's Big Four auditors and was advising on the sale to US private-equity company HIG Capital in 2011, said the fine should be no more than £5m, and that it no longer has a restructuring business...
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