KPMG shuts US government audit practice after losing army contract
Pentagon consolidates work in push to modernise its accounts following years of failed inspections
Pentagon consolidates work in push to modernise its accounts following years of failed inspections

Cull comes after years of low uptake for voluntary retirement scheme

Big Four firm and rivals are struggling to regain footing even after reductions in headcount and costs

Accountancy reports global revenues of $39.8bn, still far lower than those at competitors Deloitte, PwC and EY

Big Four firm says move reflects better management of workloads

Defence secretary announces measures to increase competition for Pentagon contracts

Big Four accounting firm has improved profitability in Britain as it recovers from series of scandals