The Public Company Accounting Oversight Board (PCAOB) fined the Big Four firm $2m (£1.64xm) after hundreds of staff shared answers for internal tests covering audit, accounting and professional independence.

The sanctions against KPMG UK were issued for violating PCAOB quality control standards related to integrity and personnel management, ranging from cheating on online tests to failures to report the use of non-affiliated firms to conduct audit work in Romania.