KPMG has been criticised by the audit watchdog for putting forward an “untruthful defence” in a misconduct hearing related to the collapse of mattress company Silentnight.
KPMG and a former partner at the firm were fined and severely reprimanded by the Financial Reporting Council in August after a tribunal found they had failed to maintain objectivity and integrity while advising on the sale of mattress company Silentnight to private equity firm HIG in 2011.