Financial Services Financial Services

KPMG chided for ‘significant weaknesses’ in UK banking audits

By Fiona Maxwell and Annie Robertson
  • 23 Jul 2021 06:06
  • 23 Jul 2021 06:47
KPMG has been told to improve the quality of its audits, after the UK watchdog found deficiencies in its work with banks.

The Financial Reporting Council criticized it for “significant weaknesses” in its procedures across all of the banking audits inspected.

The disappointing evaluation of KPMG was published alongside report

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Fiona Maxwell

Senior Correspondent

Fiona Maxwell is a financial services senior correspondent at MLex in London. She began her career as a reporter for, writing about EU post-crisis regulation, and later worked for POLITICO in Brussels, covering the intersect between financial policy and politics. Prior to joining MLex, Fiona worked at the Bank of England as a policy adviser in the prudential policy directorate.

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