The big four auditor will be fined more than £4m for its work on the accounts of Rolls-Royce Holdings dating back more than ten years, Sky News learns.
KPMG UK is facing the latest in a litany of multimillion pound fines for failings in its supervision of the accounts of Rolls-Royce Holdings, the aircraft engine manufacturer.
One source familiar with the situation said the £4.5m was expected to be discounted to reflect KPMG's co-operation with the inquiry led by the Financial Reporting Council . The FRC launched its investigation into KPMG soon after the engineering giant's deferred prosecution agreement with the Serious Fraud Office was announced.Rolls Royce Trent XWB engines on view on the assembly line at the factory in Derby
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