KPMG partners in Dubai raised concerns about the cost and transparency of a $1.5mn review by lawyers at Freshfields that followed allegations of misconduct at the Big Four firm.
The review was announced in July 2022 after the FT reported allegations of nepotism by KPMG’s then-boss in the United Arab Emirates, Nader Haffar, whose tenure had been extended by five years after a snap vote with no opponents. Freshfields also advised on a fresh leadership election as part of the mandate.
Board members complained they were being kept in the dark about the “magic circle” law firm’s investigation, according to new information disclosed to the Financial Times. One person with knowledge of the matter said board members did not receive a copy of any Freshfields report.