LONDON (Reuters) – Britain’s Financial Reporting Council (FRC) has fined KPMG 4.5 million pounds ($5.7 million) over its audit of aero engine maker Rolls-Royce more than a decade ago, the accounting watchdog said on Tuesday.
The FRC said the fine, which was reduced to 3.3 million pounds after admission of failures by KPMG, related to payments made by Rolls-Royce to agents in India, which ended with the aero-engine maker being fined by the Serious Fraud Office in 2017.
($1 = 0.7951 pounds)
(Reporting by Huw Jones; Editing by David Goodman)
