Violation Tracker Individual Record

Company: 
KPMG LLP
Current Parent Company: 
KPMG
Penalty: 
$50,000,000
Year: 
2019
Date: 
June 17, 2019
Primary Offense: 
accounting fraud or deficiencies
Violation Description: 

KPMG LLP agreed to pay $50 million to settle allegations of altering past audit work after receiving stolen information about inspections of the firm that would be conducted by the Public Company Accounting Oversight Board. The SEC also found that numerous KPMG audit professionals cheated on internal training exams by improperly sharing answers and manipulating test results.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Netherlands
Ownership Structure of Parent: 
privately held
Major Industry of Parent: 
business services
Specific Industry of Parent: 
business services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.