In the Margins

KPMG pays $6.2m for audit failure

August 16, 2017

By The Securities and Exchange Commission

KPMG has agreed to pay more than $6.2 million to settle charges that it failed to properly audit the financial statements of oil and gas company Miller Energy Resources in 2011, the Securities and Exchange Commission said. As a result, investors were misinformed about the energy company’s value.  KPMG’s engagement partner in charge of the audit, John Riordan, also agreed to settle charges against him. Read the statement from the SEC

 

 

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