PKF Accountants and Business Advisers
Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2026
ADGM Registration Authority fines PKF Accountants and its audit principal $100,000 over audit deficiencies
Fine or penalty
The Registration Authority of ADGM in Abu Dhabi imposed fines totalling $100,000 — $65,000 on ADGM-registered audit firm PKF Accountants and Business Advisers and $35,000 on its registered audit principal Saranga Lalwani — after an on-site inspection identified significant deficiencies in an audit of an ADGM-registered entity, including failures to conduct the audit and prepare the audit report in accordance with International Standards on Auditing, failure to exercise due skill, care and diligence, improper rebuttal of the mandatory fraud risk of management override of controls, failure to assess fraud risks, insufficient audit evidence and inadequate audit documentation.
Stated objective. This action reinforces the importance of robust audit practices and demonstrates that failures to meet regulatory requirements will result in appropriate enforcement action.
Source excerpt
The action was taken against PKF Accountants and Business Advisers, an ADGM-registered audit firm, and its registered audit principal, Saranga Lalwani, the authority said in a statement on Friday.
It has imposed a fine of $65,000 on PKF and $35,000 on Ms Lalwani.
The firm was also accused of failing to assess fraud risks, failing to obtain sufficient and appropriate audit evidence, inadequate audit documentation, and insufficient evidence demonstrating the audit principal's involvement in the audit process.