Official PCAOB releases or major financial news outlets

PCAOB Fines KPMG Netherlands $25M, Deloitte for Exam Cheating

Apr 15, 2024, 12:21 PM

The Public Company Accounting Oversight Board (PCAOB) has imposed a record $25 million civil penalty on KPMG Netherlands for widespread exam cheating that occurred from 2017 to 2022. The cheating involved top partners and was described as 'egregious' by the regulator. In a related action, the PCAOB also fined Deloitte for similar offenses, emphasizing its renewed regulatory efforts.