Regulatory and Peer Reviews | KPMG | US

Regulatory and Peer Reviews

Regulatory and Peer Reviews

About external regulatory and peer reviews

About external regulatory and peer reviews

About external regulatory reviews

The Public Company Accounting Oversight Board (PCAOB) was established by the Sarbanes-Oxley Act of 2002 to oversee the audits of public companies in order to protect the interests of investors and further the public interest in the preparation of informative, accurate, and independent audit reports. To assist it in fulfilling its mission, the PCAOB conducts periodic inspections of registered public accounting firms.

KPMG has been subject to 14 periodic PCAOB inspections, including a limited inspection in 2003. You can find the 2012, 2013, 2014, and 2015 PCAOB inspection reports of the firm below.

About external peer reviews

KPMG’s accounting and auditing practice applicable to engagements not subject to PCAOB permanent inspection and the related system of audit quality control is subject to external peer review triennially.

PricewaterhouseCoopers LLP issued a report on its most recent external peer review of the firm in December 2014. In that report, KPMG received a peer review rating of pass for the year ended March 31, 2014. Under the AICPA’s Peer Review Standards, firms may receive a rating of pass, pass with deficiency(ies), or fail.

KPMG’s most recent peer review report, and the AICPA’s acceptance letter of our peer review, is available below.

External regulatory reviews:

  • On December 6, 2016, the PCAOB released KPMG’s 2015 inspection report (PDF). KPMG expects to submit its response to the nonpublic portion of this report to the PCAOB by November 2017.
  • The PCAOB released KPMG’s 2014 inspection report (PDF) in November 2015. KPMG submitted its response to the nonpublic portion of this report to the PCAOB in October 2016.
  • The PCAOB released KPMG’s 2013 inspection report (PDF) in October 2014. KPMG submitted its response to the nonpublic portion of this report to the PCAOB in September 2015.
  • The PCAOB released KPMG’s 2012 inspection report (PDF) in August 2013. KPMG submitted its response to the nonpublic portion of this report to the PCAOB in July 2014.

External peer reviews: