June 17, 2019 / 2:05 PM / 2 months ago

CORRECTED-KPMG to pay $50 mln for using stolen data, exam fraud -U.S. SEC

(Corrects to say LLP, not LLC, in paragraph 1)

WASHINGTON, June 17 (Reuters) - Accounting firm KPMG LLP has admitted to using stolen information to alter some of its previous audit work and cheating on training exams, and agreed to pay a $50 million penalty, the Securities and Exchange Commission said on Monday.

KPMG also said it would also hire an independent consultant to assess the firm’s ethics and integrity controls as well as its compliance, the SEC said in a statement. (Reporting by Susan Heavey and Tim Ahmann)

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