Watchdog Flags Problems With One-Fifth of KPMG Canada’s Audits

Canada’s audit watchdog found “significant” problems with about one-fifth of 2025 audits performed by the country’s KPMG affiliate and about 13% of audits by other Big Four network firms, newly released inspection results show.

The Canadian Public Accountability Board published inspection reports for individual firms for the first time Wednesday, covering branches of the Big Four accounting giants—Deloitte, Ernst & Young, KPMG, and PwC. It inspected the most audits at KPMG, noting “significant findings” in five of the 24 audit files reviewed.

KPMG Canada said in an emailed statement that it was making “substantial ...