The Financial Reporting Council (FRC) has imposed sanctions and a severe reprimand against KPMG and retired audit engagement partner, Anthony Sykes, for serious failures in their statutory audit of the financial statements of online fashion retailer N Brown Group plc, the name behind sites like JD Williams and Jacamo, for the financial year ended 26 February 2022 when it was listed on Aim.

This is the third time Sykes, who had 27 years of audit experience and had been with KPMG since the early 80s, has been sanctioned for serious audit failings and given severe reprimands by the regulator.