Bulgaria's Commission for Public Oversight of Statutory Auditors is to fine the international accounting firm of KPMG 100,000 levs (€51,000) for auditing a bank.

The bank in question is Corpbank, whose main 50.6% shareholder, Tsvetan Vassilev, recently gave himself up to Serb authorities for extradition on an embezzlement charge in line with an international arrest warrant. Despite the auditors' rosy summary of its finances, there was a run on the bank last year. It is Bulgaria's fourth biggest lender.