The Executive Counsel to the Financial Reporting Council v KPMG

Joanna Smith QC has recently acted on behalf of the Financial Reporting Council in a prosecution against KPMG for breaches of APB Ethical Standards. KPMG admitted the breaches but a decision on sanctions is awaited from the Disciplinary Tribunal.

This is the first case of its type for the FRC and is likely to set a precedent for similar cases in the future.