KPMG Targeted In BAE Systems Accounting Probe

Law360, New York (October 25, 2010, 5:13 PM EDT) -- The U.K.'s Financial Reporting Council has launched an investigation into bookkeeping practices at KPMG Audit PLC in connection with fraud and bribery charges against BAE Systems PLC, which agreed in March to a $400 million fine to settle U.S. prosecutors' claims.

The FRC's Accountancy and Actuarial Discipline Board announced the probe Monday, saying it would focus on KPMG's audits of BAE Systems, Europe's largest defense contractor, and any subsidiaries between 1997 and 2007 in relation to commissions paid by the company. The FRC decided to spark...
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