PracticeAuditLand Rover calls for KMPG ‘blacklist’

Land Rover calls for KMPG 'blacklist'

A call for car manufacturers to boycott Big Five firm KPMG following a public clash with Land Rover fell on deaf ears this week

The row between Land Rover and KPMG exploded after it emerged the firm, as receiver of Midlands-based engineering company UPF, tried to force the Ford subsidiary to make an upfront payment of #45m before it would continue supplying the chassis for the company’s Discovery model.

The demand infuriated Land Rover’s chairman Bob Dover who is reported to have called for other car manufacturers to blacklist the Big Five firm.

But it appeared the action had left KPMG’s larger motor manufacturing clients, which include BMW and DaimlerChrysler, unmoved.

Though neither of the car giants would comment, it is believed the row was seen as an internal dispute between Land Rover, Ford and KPMG in the UK. One insider said: ‘We don’t see why we should change auditors – if we dropped our accountants every time something like this happened, we would have no accountants left.’

KPMG’s Mark Orton, one of UPF’s receivers, said Land Rover’s reliance on UPF was a valuable asset of the business, for which he was required to get the best price. ‘While I understand Ford’s concerns, I hope it will understand our legal duties and take us up on our offer to reach a negotiated settlement,’ he said.

A spokesman for Land Rover confirmed the company was back at the negotiating table, but said: ‘Opinion (of KPMG) is quite low at the moment.’

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

4d Emma Smith, Managing Editor
FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

Accounting Firms FRC closes KPMG HBOS audit investigation, Treasury Committee expects ‘full explanation’

7d Emma Smith, Managing Editor
PwC to audit BBC pay policies following gender pay gap outrage

Accounting Firms PwC to audit BBC pay policies following gender pay gap outrage

3w Alia Shoaib, Reporter
PwC fined a record £5.1m by the FRC over RSM Tenon audit

Audit PwC fined a record £5.1m by the FRC over RSM Tenon audit

1m Alia Shoaib, Reporter
KPMG fined £4.8m over Miller Energy audit

Audit KPMG fined £4.8m over Miller Energy audit

1m Alia Shoaib, Reporter
PwC to take over from Deloitte as Diploma auditor

Accounting Firms PwC to take over from Deloitte as Diploma auditor

3w Alia Shoaib, Reporter
Deloitte rises in auditor rankings with most FTSE 250 clients

Accounting Firms Deloitte rises in auditor rankings with most FTSE 250 clients

3w Alia Shoaib, Reporter
Latest Big Four auditor changes

Audit Latest Big Four auditor changes

1m Alia Shoaib, Reporter