UAE
Dubai Court Fines KPMG $231M Over Abraaj Fallout
A Dubai court has ruled in favour of a group of investors and ordered KPMG Lower Gulf to pay more than $231 million compensation – one of the largest ever against an accounting firm – for losses made by them, reported Financial Times (FT).
The investors had approached the court saying they lost their money because of the poor-quality audit of Abraaj by KPMG.
KPMG ‘committed many violations,’ says Dubai court.
