FRC ABANDONS KPMG BAE AUDIT PROBE

摘要

The FRC has closed its long-running investigation into KPMG's conduct as auditors to British Aerospace/BAE Systems Group and subsidiaries, saying there is little chance of reaching a conclusion as the events under consideration took place so long ago. In 2010 the AADB started an investigation into audits and professional services advice provided by KPMG to BAE during the period 1997 to 2007. The action centred on commission payments BAE had made to third parties, after the defence contractor was fined £285m in 2010 in relation to bribery charges brought by US and UK authorities.