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Hundreds of staff in KPMG’s Netherlands business, including senior partners and managers, cheated on professional exams and misled investigators, according to the US audit regulator, in the latest ethics scandal to hit a Big Four accountancy firm.
The Dutch arm of KPMG was on Wednesday fined $25mn by the Public Company Accounting Oversight Board, the largest penalty in the US regulator’s history.
The firm also faces disciplinary action in the Netherlands.
This is a developing story
