March 24, 2016 / 7:56 AM / 4 years ago

Dutch regulator fines 'big 4' accounting firms

The KPMG logo is seen at their offices at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause

AMSTERDAM (Reuters) - The Dutch financial markets authority AFM said on Thursday it had levied fines of up to 2.23 million euros ($2.5 million) on the big four accounting firms, saying there had been shortcomings in the audits of many Dutch companies’ annual reports in 2011 and 2012.

The fines were 1.81 million euros for Deloitte [DLTE.UL], 2.23 million euros for Ernst & Young [ERNY.UL], 1.25 million euros for KPMG [KPMG.UL] and 845,000 euros for PriceWaterhouseCoopers[PWC.UL].

(This version of the story has “...totalling...” revised to “...of up to...” in the first paragraph)

Reporting by Toby Sterling; Editing by Greg Mahlich

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