KPMG’s Dutch Arm Fined $25 Million for Exam Cheating Charges (3)

The US audit regulator hit KPMG Netherlands with a record $25 million civil penalty for widespread cheating on internal training as the watchdog cracks down on ethics violations that have plagued accounting firms around the globe.

Deloitte affiliates in Indonesia and Philippines also agreed to a combined $2 million in fines for similar misconduct, the Public Company Accounting Oversight Board said Wednesday.

Those enforcement actions mark the latest in a series of penalties the PCAOB has brought against Big Four accounting firms for rampant cheating by staff, including auditors, on routine training exams—often covering ethics issues. They underscore that the ...