KPMG cleared in HBOS audit investigation

Dog Detective

KPMG has been cleared of any wrongdoing over its auditing of HBOS, which was rescued by Lloyds during the height of the 2008 crisis, after accounting regulators concluded the accountancy firm could not have foreseen the bank’s problems.

SEC charges KPMG with audit failures

The Securities and Exchange Commission has announced that KPMG has agreed to pay more than $6.2 million to settle charges that it failed to properly audit the financial statements of an oil and gas company, resulting in investors being misinformed about the energy company’s value. KPMG’s engagement partner in charge of the audit also agreed to settle charges against him.