KPMG and one of its restructuring partners have been accused of “bringing discredit to the profession” in a hearing stemming from the sale of mattress company Silentnight to private equity fund HIG in 2011.

KPMG and restructuring partner David Costley-Wood have been accused by watchdog the Financial Reporting Council (FRC) of acting where their judgement and objectivity was compromised and misleading the Pension Protection Fund (PPF) and the Pensions Regulator (TPR) and others.