Accounting firm KPMG is letting go 5% of its American workforce. The cuts at KPMG — one of the “Big Four” consultants — will take place through the summer, a company spokesperson told PYMNTS Monday (June 26). The spokesperson also shared a statement from KPMG U.S. CEO Paul...
America’s biggest bank auditor is reportedly under fire after a trio of high-profile banking failures. KPMG, one of the “Big Four” accounting firms, was the auditor for Silicon Valley Bank (SVB), Signature Bank and First Republic Bank, all of which were taken over by federal...
The “critical audit matters” standard reportedly failed to catch key issues in the recent bank failures. The standard, introduced in 2017 and meant to make audit opinions more useful to investors, failed to highlight the unrealized bond losses that brought down Silicon Valley Bank, The...
When it comes to banking, compliance is king. That makes proper accounting and internal controls queen, at the very least. This, as the collapse of Silicon Valley Bank (SVB) last week and Signature Bank over the weekend, comes just a handful of days after big-four accountant KPMG LLP reportedly gave both...
January 02, 2019
On the face of it, the lure of real-time payments might seem like an inevitability. The concept is gaining traction and deployment across any number of avenues and several countries. In a recent example, in the U.S., a number of leading tech companies have become vocal in their support of a real-time payments (RTP) network, to be […]
November 16, 2018
Nearly a year on, Open Banking has a bit of mileage behind it and roadmap stretching ahead. Far-flung governments are requiring banks to make customer data available to third parties...
June 25, 2018
FinTechs by the dozen. Apps by the dozen. Banks have competitive, operational and communication challenges in place, as Mitch Siegel, National FS Strategy and Transformation Leader at KPMG tells Karen...
April 27, 2018
As Muhammad Ali once said, “Float like a butterfly, sting like a bee.” Translated for the financial services sector, this idiom might read thus: “Act like a startup, think like...
August 16, 2023
The United Kingdom has taken a significant step to bolster its position as a global FinTech investment hub by launching a £1 billion investment fund, announced Wednesday (Aug. 16) by UK FinTech Growth Partners. The fund, called the Fintech Growth Fund, aims to support growth-stage financial technology companies until they can go public. This move […]
June 26, 2023
Accounting firm KPMG is letting go 5% of its American workforce. The cuts at KPMG — one of the “Big Four” consultants — will take place through the summer, a company spokesperson...
May 03, 2023
America’s biggest bank auditor is reportedly under fire after a trio of high-profile banking failures. KPMG, one of the “Big Four” accounting firms, was the auditor for Silicon Valley Bank...
April 10, 2023
The “critical audit matters” standard reportedly failed to catch key issues in the recent bank failures. The standard, introduced in 2017 and meant to make audit opinions more useful to...
