KPMG suspension upheld by Oman's Appellate Body

Muscat: Oman's Appellate Court has upheld the decision of the Capital Market Authority (CMA) against KPMG, the financial services and audit company.

In a statement, it said, “Capital Market Authority (CMA) hereby wishes to inform that the independent appellate body considered KPMG’s appeal against CMA decision that had suspended KPMG from auditing entities regulated by CMA for a period of one year starting from 13 November 2018. The appellate body, after hearing the argument of both parties, issued its judgement on 28 February 2019 upholding the decision taken by CMA.”