KPMG, Deloitte, BDO to Pay Fines Over Audit at South African Company

Foreign affiliates of accounting firms KPMG, Deloitte Touche Tohmatsu and BDO agreed Tuesday to pay a total of about $390,000 to settle Securities and Exchange Commission allegations that they improperly used other firms to help them audit a South African company.

The case is the latest incident that raises questions about the unusual global setup of the major accounting firms, which are networks of legally separate affiliates in 150-plus countries, and allegations of wrongdoing by some of those affiliates. 

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