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KPMG made ‘untruthful’ defence in Silentnight case, FRC says

Sanctions of £13 million and £500,000 will be imposed on KPMG and Mr Costley-Wood respectively and are the ‘highest ever’ imposed on a member firm and member in a non-audit case

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KPMG constructed an untruthful defence and withheld evidence from regulators as it tried to cut a fine for misconduct during the sale of bedmaker Silentnight, according to a report by the Independent Disciplinary Tribunal.

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