KPMG was sued for at least $600m over its role in the insolvency of Dubai private-equity firm Abraaj Group, the latest in a string of complaints of sloppy auditing made against the Big Four firm.
If KPMG and its local Lower Gulf subsidiary had complied with their duties, then “irregularities” relating to the firm’s financial statements would have been identified sooner, the claimants said. Other Big Four firms have also been embroiled in scandal. EY faces accusations it “actively concealed” a six-year fraud from investors over its auditing for hospital operator NMC Health.
Naqvi remains under house arrest in London and faces a maximum sentence of up to 291 years in jail if he is extradited to the US and convicted. At least one other former employee has pleaded guilty to conspiracy charges.
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KPMG sued over poor auditing work in DubaiClaimants say KPMG accountants breached their duty of care when auditing Abraaj Group I thought KPMG is a reputable firm globally... Now I am beginning to question their work ethics. Mmmm. When are we going to stop respecting this profession ?
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Khanyi Mbau dedicates award to ‘Dubai bae’ and more highlights from #Feathers13'I would like to dedicate this award to Kudzai. He has shown men it's OK to show strength in pain.' I have benefited from at least R40k a week with Hendricksnino through his recommended platform with my small investment. Don't spend all your money without investing. Hendricksnino is a life saver, join me and win also in with good hands There's no greater joy than having financial freedom and a life free debts 😊, that's why I keep posting a comment about Mrs Nichelle_1111
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KPMG sued over poor auditing work in DubaiClaimants say KPMG accountants breached their duty of care when auditing Abraaj Group I thought KPMG is a reputable firm globally... Now I am beginning to question their work ethics. Mmmm. When are we going to stop respecting this profession ?
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POLL | Should government introduce a basic income grant for citizens aged 18 to 59?Reflecting on last week's local government elections, Vavi said the pots of the poor remained empty with the plight of joblessness, poor service delivery and poverty still evident. It's not sustainable The level of poverty in SA is way too much I second that. The government must introduce work opportunities, reduce corruption in the public n private sector, deal with high levels of crime n consider increasing old age income grant. We are not a developed country, what's this thing of S.A. always trying to align itself to the west
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