KPMG - Regulation Asia

Malaysia Secures Settlement from KPMG to Resolve 1MDB Claims

The settlement concludes a civil suit filed against KPMG and its current and former partners over the audits 1MDB's 2010-2012 financial statements.

September 18, 2021

80

Australia & NZ

NZ Privacy Commissioner Issued Compliance Notice to RBNZ

The compliance notice was triggered by the cyber-attack suffered by the RBNZ in December 2020, and confirms the work underway to make its systems more secure.

September 17, 2021

132

Australia & NZ

PCAOB Fines KPMG Australia Over Training-related Misconduct

Cheating in online training tests was found to be widespread within the audit practice. KPMG Australia sanctioned 1,131 individuals.

September 16, 2021

104

Australia & NZ

Australian Court Issues Fines in First Criminal Case of Bad Audits

EC Audit and its former director Robert James Evett have been convicted and sentenced to pay fines for failing to follow auditing standards.

August 19, 2021

289

Feature

Bank of Korea CBDC Pilot to Kick off This Month

Ground X, Kakaobank, Kakao Pay, Consensys, Samsung and Onther are among the firms that will participate in the pilot. Phase one will be complete by December.

August 9, 2021

162

AML / KYC

Malaysia Files Suit Against KPMG Partners Over 1MDB Losses

The Malaysian government and 1MDB filed a $5.64bn lawsuit against 44 current and former KPMG partners over the firm's audits of 1MDB’s financial statements.

July 14, 2021

91

Australia & NZ

Australian Court Set to Impose First Sentences Over Bad Audits

EC Audit and its former director are the first auditors in Australia to face criminal prosecution for failure to comply with auditing standards.

July 12, 2021

97

Australia & NZ

NZ FMA Cancels Fund Manager Licence for ‘Material’ Breaches

Fund Managers Otago incorrectly calculated and disclosed returns in fund updates and entered into prohibited related party transactions, among other breaches.

July 11, 2021