A $24m (£15m) settlement by KPMG in the US over its audit work at Countrywide
has been granted preliminary approval by a federal judge.
Bank of America, which owns Countrywide, agreed in May to pay $600m to
resolve class-action litigation, with KPMG agreeing $24m.
The final hearing on the settlement is likely to be held on 15 November,
Pensions funds had alleged that Countrywide’s chief executive and other
officials had misrepresented the lender’s reliance on sub-prime and adjustable
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
Smaller businesses could be excluded from government plans for making business transactions digital, found new research from ICAEW
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Further powers are being sought by HMRC, but it is ‘failing’ to use those it already has, such as Conduct Notices, says RPC