The Financial Reporting Council (FRC) has fined auditor KPMG and some of its par...
FILE PHOTO: The KPMG logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo
KPMG has been fined 6 million pounds, its partner Mark Taylor and former partner Anthony Hulse 100,000 pounds each, the FRC said in a statement on Tuesday. The fines followed the FRC’s investigation on the auditing of Lloyd’s of London car and motorcycles insurer Equity Red Star for accounts dating back to 2007, 2008 and 2009.Equity Syndicate Management Limited was the management agent and a corporate member of the Lloyd’s of London, trading as Equity Red Star.
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