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KPMG fined £1.25m over Revolution Bars audit failures
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KPMG has been fined £1.25m by over failures in its 2015 and 2016 audits of Revolution Bars Group and one of its former directors has been fined £50,000.
The Financial Reporting Council, the industry watchdog, levied the fines for the “serious breaches” the firm made in its audits of the listed entertainment company, whose business centred on a national chain of cocktail bars. The audits related to the financial year ended 30 June 2015 and the 53 weeks ended 2 July 2016.
The...
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