Land 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

PwC auditor spent just two hours on BHS audit, says chairman

Audit PwC auditor spent just two hours on BHS audit, says chairman

2d Alia Shoaib, Reporter
FRC reports an “unacceptable deterioration” in KPMG audit quality

Audit FRC reports an “unacceptable deterioration” in KPMG audit quality

5d Alia Shoaib, Reporter
PwC fined a record £10m over BHS audit

Audit PwC fined a record £10m over BHS audit

2w Alia Shoaib, Reporter
KPMG fined £4.5m over Quindell audit misconduct

Audit KPMG fined £4.5m over Quindell audit misconduct

2w Alia Shoaib, Reporter
PwC to net £50m from Carillion insolvency

Accounting Firms PwC to net £50m from Carillion insolvency

2w Alia Shoaib, Reporter
Deloitte faces disciplinary action over Autonomy accounts scandal

Audit Deloitte faces disciplinary action over Autonomy accounts scandal

3w Alia Shoaib, Reporter
Is predictive analytics the end of the annual audit?

Audit Is predictive analytics the end of the annual audit?

1m Martin Herron, MHA MacIntyre Hudson
Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

Audit Auditors ‘in the dock’ over Carillion as report calls for Big Four break-up

1m Emma Smith, Managing Editor