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FRC fines KPMG £1.75m over The Works audit

KPMG’s audit was flawed by a number of failings, including failure to respond to variances in stock counts identified during controls testing and omitting the test results from the audit file

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The Financial Reporting Council has issued a fine and imposed sanctions against KPMG and Anthony Sykes in relation to the statutory audit of the financial statements of TheWorks.co.uk plc. 

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