UK - Accountants and auditors KPMG is been investigated by the accountancy regulator over its role as auditor to the failed insurer Independent Insurance.
KPMG fully denies negligence and said: “The fact is surrounding the collapse of Independent Insurance are very complex with clear evidence that information was withheld from both ourselves, advisers, the board and the regulators.
“KPMG is cooperating fully with the liquidators and the regulators in their investigation.”
The firm faces questions on how it allegedly failed to spot £700m in the independent’s books before the insurer went into liquidation.
Trustees lack expertise, time and resources to develop effective communications on technical pensions issues and need professional help, a major review of the British Steel saga has concluded.
In this week's Pensions Buzz, we want to know if you think trustees should consult directly with members before agreeing to a DB superfund buyout.
Thousands of savers taking tax-free lump sums ahead of retirement are at risk of a pensions shortfall in later life due to neglecting their remaining pot, Zurich has warned.
Professional Pensions is looking to update its list of pensions master trusts in the UK ahead of authorisation. Can you help?