From www.goingconcern.com: The PCAOB sanctioned nine KPMG global network firms for failing to accurately report outsourced work on their audits, violating PCAOB Rule 3211.

These violations resulted in a total fine of $3.375 million and highlighted significant disclosure deficiencies, particularly in multi-country audits where multiple parties are involved.

Subsequently, KPMG is considering merging several of its international entities to streamline operations and prevent future audit scandals.