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Three failed US banks had one thing in common: KPMG

KPMG's work for three failed US banks is under scrutiny, raising questions about the quality of its work and independence. Regulators are likely to pay close attention to KPMG's role in the financial system.

1 min read
  • KPMG's work for three failed US banks, including Silicon Valley Bank and First Republic, is under scrutiny.
  • Questions are being raised about the quality of KPMG's work and independence.
  • KPMG audits more US banks than any other Big Four accounting firm.
  • Banking clients accounted for 14% of KPMG's fees from public clients in 2021.
  • Regulators are likely to pay close attention to KPMG's role in the financial system.
Three failed US banks had one thing in common: KPMG
Big Four auditor’s work for SVB, Signature and First Republic comes under scrutiny in aftermath of their collapses
Financial TimesStephen Foley

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