More NewsKPMG scoops 30% more fees from BBC

KPMG scoops 30% more fees from BBC

KPMG brings in £2.6m in fees for work with the BBC in 2008/2009

BBC’s auditors KPMG scooped an extra 30% in fees from the broadcaster in
2009, compared to a year earlier.

The firm charged the BBC a total of £2.6m in 2009 for its audit and other
services, from £2m in 2008.

The audit fee for 2009 was £500,000, down from £600,000 a year earlier.

KPMG’s fees for BBC subsidiaries audit, tax and corporate finance stayed
roughly the same. However fees for ‘all other services’ increased to £1.1m from
£500,000.

The increase was principally driven by work relating to BBC Worldwide
transactions and projects, as well as individual assignments such as a review of
management and financial controls in bbc.co.uk, following the BBC Trust’s 2008
review of BBC Online, said the BBC’s press office.

The valuation of the BBC’s pension scheme shows a deficit of £139m compared
to a surplus of £528m a year earlier.

‘We remain committed to the defined benefit scheme and constantly review our
approach to pension provision to effectively manage both cost and risk; however
we also recognise that it must remain affordable to the license fee in the
long-term,’ said BBC CFO Zarin Patel in the broadcaster’s financial overview.

Further reading:

BBC trustees slam door on NAO probe

Related Articles

Autumn Statement: “Consistency” in the light of Brexit

Corporate Finance Autumn Statement: “Consistency” in the light of Brexit

1y Stephanie Wix, Writer
Colin: KPMG providing new partners with right Brexit tools

Accounting Firms Colin: KPMG providing new partners with right Brexit tools

1y Stephanie Wix, Writer
Creditors throw CVA lifeline to BHS

Business Recovery Creditors throw CVA lifeline to BHS

2y Chris Warmoll, Writer
ICAEW ditches KPMG employee for £43,000 false expense claims

More News ICAEW ditches KPMG employee for £43,000 false expense claims

8y Kevin Reed, Writer