• Register
Return to: Home > News > Advisory > KPMG UK in talks to sell pensions practice

KPMG UK in talks to sell pensions practice

KPMG UK has entered into exclusive talks to sell its pensions practice.

A KPMG spokesperson said: “Following significant interest in our market-leading pensions practice, we can confirm we have entered into exclusive talks with Exponent with a view to progressing a sale. We will not comment further while negotiations remain ongoing.”

The talks come as the Big Four face political and public scrutiny over the perceived conflicts of interest between audit and non-audit work.

Most recently, PwC’s UK head of Audit Hermione Hudson was questioned by MPs over the firms audit and non-audit work for travel company Thomas Cook which collapsed last month, prompting the largest peace-time repatriation effort in British history as 155,000 tourists were stranded outside of the UK.  

The Big Four have all defended the need for multi-disciplinary firms to ensure the quality of audit despite calls for them to be partitioned.

Earlier this year, the UK’s Competition and Markets Authority (CMA) called for an operational split of the between the Big Fours’ audit and non-audit practices while the Business, Energy and Industrial Strategy Committee’s (BEIS) Future of Audit report called for a full, legal structural break-up of the Big Four.

Top Content

    Brazil: regulation and technology form basis for recovery

    Opportunities in the capital markets and the ever-growing influence of technology are expected to have a significant impact on the Brazilian accounting profession over the next 12 months, writes Paul Golden.

    read more

    Mentoring support and the opportunity to delegate

    Jon Lisby will be known to many from his former role as CEO of Kreston International. Here, he explains the background to his new venture, Global Alliance Advisory Services (GAAS), and how he aims to offer support to alliance CEOs.

    read more

    Global by name, global by nature

    Stephen Heathcote became chief executive officer of PrimeGlobal on 1 June 2019. Robin Amlôt met him to discuss the various new challenges that he has taken on, and his ambitions for the association.

    read more

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.