'Big Four' accountancy firm KPMG is being investigated over commissions paid during ten years of BAE Systems audits.
The investigation by the Accountancy and Actuarial Discipline Board (AADB) focuses on the audits of British Aerospace/BAE Systems between 1997 and 2007, looking at commissions paid by BAE to subsidiaries, agents or other companies. Any professional advice, consultancy or tax work provided to BAE by KPMG during that period will also come under the microscope in relation to commission payments. Heads of the "Big Four" accountancy firms, including KPMG, are already being forced defend themselves to a House of Lords committee investigating their role in the recent financial crisis. The...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes