KPMG boss sorry for 'moaning' jibe at audit staff

[LONDON] The UK chairman of global accountancy firm KPMG has apologised for telling staff to stop moaning about working conditions during the coronavirus pandemic.

"I am sorry for the words I used, which did not reflect what I believe in, and I have apologised to my colleagues," UK chair Bill Michael said in a statement sent to AFP Wednesday.

"Looking after the wellbeing of our people and creating a culture where everyone can thrive is of critical importance to me and is at the heart of everything we do as a firm," he added.

The Financial Times reported that during a virtual meeting on Monday, members of KPMG's financial services consulting team told Mr Michael about their concerns over potential cuts to pay and the ranking of individuals' performance.

Mr ichael told staff to "stop moaning" and to stop "playing the victim card", according to the FT which cited employees.

KPMG, along with Deloitte, EY and PWC, form Britain's so-called Big Four accountants that are set for a shake up.

UK authorities want the industry to separate audit and consulting activities, while increasing oversight and competition following allegations of malpractice.

AFP