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M&C Saatchi plc (SAA.L)

LSE - LSE Delayed Price. Currency in GBp (0.01 GBP)
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177.00-4.00 (-2.21%)
As of 11:29AM GMT. Market open.
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  • PA Media: Money

    KPMG fined almost £1.5m over M&C Saatchi audit failures

    The Financial Reporting Council also sanctioned auditor Adrian Wilcox.

  • The Telegraph

    KPMG fined £1.5m over accounting scandal at top Tory ad agency

    The UK audit watchdog has fined KPMG £1.5m for “serious failings” after it didn’t spot an accounting scandal at ad agency M&C Saatchi.

  • Reuters

    KPMG fined $2 million for 'failures' in M&C Saatchi audit

    Britain's accounting watchdog said on Monday it has fined KPMG 1.46 million pounds ($1.90 million) for "basic failings" in its audit of advertising company M&C Saatchi plc in 2018. The Financial Reporting Council (FRC) said it launched an investigation after M&C Saatchi found accounting errors which led to the restatement of the company's accounts for 2018. KPMG and Adrian Wilcox, the audit engagement partner at KPMG for M&C Saatchi, both admitted breaches regarding failures to audit with sufficient professional scepticism regarding a type of payment that inflated revenue by 1.2 million pounds.