[Skynet]

https://www.marketwatch.com/story/kpmg-under-investigation-for-bny-mellon-reporting-lapses-2015-06-23

Excerpt:

The Financial Reporting Council, the U.K. regulator for the accounting and audit industry, is investigating KPMG’s U.K. auditing practice over its client The Bank of New York Mellon BK, +0.38% , according to a press release. The regulator is looking into lapses in KPMG’s required reporting regarding BNY Mellon’s compliance with client asset safeguarding rules for a four year period, 2007 to 2011. BNY Mellon, the world’s biggest custody bank, was fined $199 million in April for failing to segregate customer funds during the financial crisis.

https://www.telegraph.co.uk/finance/newsbysector/supportservices/8995981/PwC-fined-record-1.4m-over-JP-Morgan-audit.html

Excerpt:

The verdict was handed down yesterday by the Accountancy and Actuarial Discipline Board (AADB).

The independent arbitrators found PwC, now lead by chairman Ian Powell, wrongly reported to the Financial Services Authority that JPMSL had complied with client money rules which govern the segregation and protection of client funds.

The AADB found an average of £5.5bn was not fully segregated in an error that went undetected by PwC for six years, from 2002 to 2008.

JPMSL was fined £33.2m for its non-compliance in 2010.

The arbitrator said: “PwC accepted it did not carry out its professional work in relation to these reports with due skill, care and diligence, and with proper regard for the applicable technical and professional standards expected of it.”

[trish_1234]

cool thx for sharing, “Its a corporate world”

AUD 69, 92 7/15 Gleim and Ninja test bank
FAR sometime in 10/15 Gleim
BEC not taken
REG not taken

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