KPMG’s $154m (£82m) settlement of a class-action lawsuit brought against the
firm for its role in selling tax-shelter products later deemed improper by the
Internal Revenue Service has received final approval.
A federal judge approved the scheme in New Jersey, although 50 plaintiffs
opted out of the scheme and will pursue their own individual cases.
KPMG escaped a potential criminal indictment related to the matter last year
when it entered into a deferred-prosecution agreement with the government and
agreed to pay a $456m (£243m) fine.
A spokesman for KPMG said the firm was ‘pleased the court has upheld the
fairness of our negotiated resolution’.
A new head of solutions, Aidan Brennan, has been appointed at KPMG UK
Hundreds of jobs are secure after Spectrum Contracting has been sold out of administration to Minstrell Recruitment by FRP Advisory
Cowgill Holloway and Warings Business Advisors have merged, with a range of growth plans in the North West put in place
The Practitioner discusses their timesheet militancy, and reaction to someone playing it fast and loose with the details...