Accountancy

KPMG UK to pay £5m to settle claim from ex-audit client Watchstone

KPMG was accused of failings in its 2013 audit of Watchstone

KPMG was fined £4.5m over its work on Quindell’s 2013 numbers by audit watchdog the Financial Reporting Council on 11 June 2018
KPMG was fined £4.5m over its work on Quindell’s 2013 numbers by audit watchdog the Financial Reporting Council on 11 June 2018 Photo: Jack Taylor/Getty Images

KPMG UK is to pay nearly £5m to Watchstone to settle a claim over alleged failings in its audit of insurance outsourcer Watchstone in 2013.

Watchstone — formerly Quindell — served KPMG with a £14m claim in November 2021 over alleged failings in its 2013 audit of the company.

WSJ Logo
Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With TrumpExternal link

Pro Bono or Pro Nono? Law Firms Split on Fulfilling Deals With Trump