In the Matter of KPMG LLP, et al.
Admin. Proc. File No. 3-18110
On August 15, 2017, the Commission instituted and simultaneously settled administrative and cease-and-desist proceedings (the “Order”) against KPMG LLP (“KPMG”) and John Riordan, CPA (“Riordan”) (collectively, the “Respondents”). In the Order, the Commission found that, the Respondents’ conduct during the 2011 audit and 3Q2011 review of Miller Energy Resources, Inc. (“Miller Energy”), while serving as Miller Energy’s auditor, involved repeated instances of unreasonable conduct, each resulting in violations of PCAOB standards. The Commission also found the Respondents to have caused Miller Energy’s violations. The Commission ordered, and the Respondents paid, a total of $6,258,998.00 in disgorgement, prejudgment interest, and civil money penalties to the Commission. The Commission further order that the penalties, along with the disgorgement and interest, paid will be held (the “Fund”) pending a decision whether the Commission, in its discretion, will seek to distribute funds pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, as amended or transfer the funds to the U.S. Treasury. See the Commission’s Order: Release No. 34-81396.
For more information, please contact the Commission:
Office of Distributions