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 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 PCAOB inspections since 2003. You can find the 2016, 2017, 2018, 2019 and 2020 PCAOB inspection reports of the firm below.

About external peer reviews

KPMG’s system of audit quality control applicable to engagements that are not subject to PCAOB permanent inspection (nonpublic entity accounting and auditing practice) is subject to external peer review triennially.

PricewaterhouseCoopers LLP issued a report on its most recent external peer review of the firm dated November 17, 2020. In that report, KPMG received a peer review rating of pass for the year ended March 31, 2020. Under the AICPA’s Peer Review Standards, firms may receive a rating of pass, pass with deficiency(ies), or fail.

The rating indicates that the firm’s system of quality control has been suitably designed and complied with to provide the firm with reasonable assurance of performing and reporting in conformity with applicable professional standards in all material respects.

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

External regulatory reviews:

External peer reviews: