KPMG

==== 2024 ====

During February, KPMG's South African affiliate is supposed to have entered into a confidential out-of-court settlement of 500 million Rand (~US$27 million) with the liquidators of bankrupt South African bank, [[VBS Mutual Bank]] in response to their lawsuit against KPMG filed in February 2021 for 863.5 million Rand (~$59 million).<ref>{{Cite news |last=Mantshantsha |first=Sikonathi |date=February 1, 2024 |title=KPMG agrees to cough up R500 million to quash lawsuit for flawed VBS Mutual Bank audit |url=https://www.news24.com/fin24/companies/kpmg-agrees-to-cough-up-r500-million-to-quash-lawsuit-for-flawed-vbs-mutual-bank-audit-20240201 |url-status=live |access-date=March 20, 2024 |work=News24.com|url-access=subscription}}</ref>

In March, KPMG's UK affiliate was fined £1.46 million ($1.9 million) by the UK accounting regulator, [[Financial Reporting Council]] for 'basic failings' in its audit of the 2018 financial statements of advertising agency, M&C Saatchi plc.  FRC indicated that KPMG would have been fined £2.25 million had it not admitted to the breaches.<ref>{{Cite news |last=Meddings |first=Sabah |date=March 4, 2024 |title=British accounting watchdog fines KPMG $1.9 mn over Saatchi audit failings |url=https://www.business-standard.com/world-news/british-accounting-watchdog-fines-kpmg-1-9-mn-over-saatchi-audit-failings-124030400575_1.html |url-status=live |access-date=March 12, 2024 |work=Business Standard}}</ref>