KPMG Fined £6M Over Insurer's Botched Audit

Law360, London (April 30, 2019, 12:16 PM BST) -- A U.K. watchdog fined KPMG fined £6 million ($7.8 million) and levied sanctions against a partner and an ex-partner on Tuesday over the auditing giant's botched reviews of a major motorcycle insurance underwriter that suffered a financial crash.

The accounting watchdog has fined KPMG £6 million ($7.8 million) and handed financial penalties to a partner and former partner for the Big Four company's handling of audits of a Lloyd's syndicate. (AP) The Financial Reporting Council "severely reprimanded" the company and fined Mark Taylor and former partner Anthony Hulse £100,000 each for their firm's handling of audits of Lloyd's Syndicate 218 in...

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