The Financial Reporting Council (FRC) has imposed sanctions against KPMG LLP and Michael Frankish for their audits of Revolution Bars Group plc, a UK operator of premium bars, for the financial years ended 30 June 2015 and 2 July 2016.  KPMG had been auditor at the company since 2006 and was in post when the firm listed in 2015.

This is the seventh case of audit failure at KPMG which has been handed FRC sanctions in the last four years.

Frankish was audit engagement partner in charge of the audits on behalf of KPMG, although he was an audit director, not a partner in the firm. He has since left KPMG and become a partner at Grant Thornton.