KPMG slapped with $50m fine over past audit work

KPMG has agreed to pay a $50m penalty after the American Securities and Exchange Commission (SEC) charged the firm with altering past audit work after receiving stolen information about upcoming inspections. The SEC also found that numerous KPMG audit professionals cheated on internal training exams by sharing answers and manipulating test results.
Alongside the $50m penalty, KPMG agreed to adhere to a set of measures, including retaining an independent consultant to review and assess the firm&r