The majority of investors enticed into KPMG’s tax shelter schemes look set to
accept a new compensation offer.
According to the New York Times, KPMG will pay about $150m (£83m) to
209 eligible investors if the deal is approved next month.
The revised settlement will give each investor an average of more than
A deal offering $195m (£108m) in September collapsed after 64 of the 264
investors chose not to take part, saying the agreement did not offer them enough
The new deal is likely to see 76% of investors taking part, according to
papers filed in the US District Court in Newark, New Jersey this week.
Last August, KPMG paid $456m (£253m) in a deferred- prosecution agreement
with US prosecutors over certain tax shelter schemes.
Mazars has announced the appointment of Michael Tripp as the new head of financial services
A new leader, Darra Singh has been appointed to lead EY’s UK government and public sector practice
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
Revenue and profitability growth in on the rise for CPA firms, found a survey from the American Institute of CPA’s and its subsidiary CPA.com