MarketWatch reporter and friend of Going Concern’s, Francine McKenna, wrote an outstanding article today after digging through court documents obtained by MarketWatch that name the audit clients caught up in the KPMG audit inspection conspiracy. And there are some pretty big names. The Justice Department in January brought criminal charges against five former KPMG executives […]
And here I thought Phil Mickelson’s meltdown on the 13th green at the U.S. Open on June 16 would be the worst thing to happen to KPMG this week. From Bloomberg: KPMG’s audit work in the U.K. is of an unacceptable standard, Britain’s accounting regulator said, fueling calls to reform the industry, including dismantling the […]
You may have seen earlier this week that KPMG South Africa is planning to lay off 400 workers and close some regional offices, as the embattled firm tries to save face following the Gupta and VBS Mutual Bank scandals. If you haven’t been paying attention, here’s a nice synopsis of what’s going on, via Reuters: […]
Louder this time, for the people in the back.
Photo: A higher proportion of hand raising than at KPMG.
In an effusive, buzzy word salad published in Accounting Today, KPMG Chairman and CEO Lynne Doughtie announced that the firm would be adding independent directors to its board. Why, might you ask? I’ll let Lynne tell you unabated: In today’s complex and fast-moving global business environment, successful organizations regularly reassess their mission and responsibilities to […]
Uh oh: KPMG LLP’s South African unit is flying in trouble shooters from around the globe and hurriedly meeting clients to stem any further loss of business after becoming embroiled in three evolving scandals. Let me jump in here to say that I think I’d make a fine accounting firm troubleshooter. A Big 4 Mr. […]
As a Big 4 alumna, when I saw the KPMG master’s degree program, I immediately thought, “What’s the catch?” But before we get to the catch, let’s look at the program itself a little more. The KPMG Master’s Degree Program Per Accounting Today, the cohort of 135 program participants for the 2018-2019 start class will […]
The Securities and Exchange Commission fined foreign affiliates of BDO, Deloitte, and KPMG for skirting oversight of the PCAOB. Here’s the skinny: According to the SEC’s orders, the Zimbabwe affiliates of Deloitte & Touche and KPMG improperly audited the majority of assets and revenues of a publicly traded company without registering with the PCAOB. The […]
One of the best things about working at a Big 4 firm is that for virtually every problem you encounter, you can dial up an internal hotline and get some help. Computer acting up? There’s a hotline. Forget the basic accounting equation? There’s a hotline. Partners passing along illegal information about PCAOB inspection plans? Um, […]