KPMG was Towergate auditor when client money misallocation took place

Audit magnifying glass

KPMG has confirmed that it was the auditor for Towergate during the 2007 to 2011 period in which the misallocation of £15m of client money occurred.

A spokesperson for the financial services firm said: “We are aware of the issue.”

When questioned about what action Towergate was taking over the issue, a spokesperson for the consolidator said: “As part of a programme to improve our finance control framework, we identified a £15m misallocation between company funds and client and insurer monies.


To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: