More fines for Big Four: Why KPMG, EY, PwC and Deloitte aren't profitable

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do the big four county giants have a big
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fine problem rarely does a week pass
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without one of the big four firms find
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themselves in the headlines over yet
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another financial sanction and the data
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backs up this feeling data seen by city
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shows that the accountancy regulator the
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financial reporting council has fined
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the big four giants over 154 million
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pounds over the last 5 years now for
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context the majority of fines that the
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Financial Reporting Council issues come
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with a discount usually because the firm
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either admitted to it mistakes or
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reported itself to the regulator on a
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breakdown of these fines and despite
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being the smallest of the big four KPMG
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is leading in the total financial fines
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with 11 over the last 5 years KPMG was
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hit with over 81.8 million points pre-
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discount in monetary sanctions a large
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chunk of this total will include the
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record fine the watchdog slapped on it
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over its aing of the collapsed
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construction giant Curillion which went
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under with almost7 billion pounds in
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debt kpmg was fined over 26 million
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reduced to 18.5 million over exceptional
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failures for this auditing next in the
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list is PWC with eight fines totaling
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over 34.7 million pre- discounts this
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was down to his role that PWC played in
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auditing the London Capital and Finance
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which resulted in5 million pounds in
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financial penalties now London Capital
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and Finance was a mini bond firm that
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took money from almost 12,000 investors
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before collapse in 2019 and has been
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subject to high-profile civil litigation
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deote was then slapped with 19.6 million
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pounds in damages over the last 5 years
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while by total financial amounts EY
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faced the lowest amount of fines with a
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bill over £18 million discounted to 12.3
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million a lot of the heavy figures came
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recently as EY was slapped with a 6.5
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million pounds discounted to over 4.8
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million penalty last week for its aing
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of the collapsed airline Thomas Cook all
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of this comes as the big four giants
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have been struggling with their
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profitability problem now for more on
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the big four make sure to check out
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cityam.com
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More fines for Big Four: Why KPMG, EY, PwC and Deloitte aren't profitable

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More fines for Big Four: Why KPMG, EY, PwC and Deloitte aren't profitable

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