Comments on: KPMG – Were They Threats or Desperate Pleas?

By: re: The Auditors » Blog Archive » Being Expedient: PwC Settles Satyam U.S. Class Action

Tue, 10 May 2011 01:36:47 +0000

[...] distance themselves from the “rogue” partners and firms, sometimes going so far as to pull their legal support or sue them in order to save their own [...]

By: re: The Auditors » Blog Archive » Auditors Under Pressure In The UK: Or Are They?

Tue, 25 Jan 2011 05:28:56 +0000

[...] KPMG knows that being under the thumb of a federally mandated monitor in the event of a near-death by litigation is the lesser of two evils. Their leadership decided quickly who was at fault in their tax shelter scandal, threw their own partners under the bus – and withheld funds for their defense – then cut a deal with the Department of Justice. They’ve survived to thrive. [...]

By: Is Any Other Audit Firm Vulnerable Besides Ernst & Young? - Francine McKenna - Accounting Watchdog - Forbes

Thu, 23 Dec 2010 18:04:10 +0000

[...] paid to settle Tyco ($225 million) and be less than what KPMG paid ($456 million) to settle their near fatal tax shelter sins or what EY paid a few years ago to settle Cendant ($335 [...]

By: re: The Auditors » Blog Archive » Treasury Votes To Reappoint KPMG As Auditor of Citigroup

Sun, 31 Oct 2010 15:57:11 +0000

[...] the US Treasury, via the IRS, was scaring the living daylights out of KPMG over tax shelter abuses in 2005 and the Department of Justice was considering indicting the firm, [...]

By: re: The Auditors » Blog Archive » PCAOB Waiting For Godot: Reporting On Auditor Performance During The Financial Crisis

Fri, 08 Oct 2010 13:15:59 +0000

[...] policy was first voiced by Attorney General Alberto Gonzalez when he let “KPMG the firm” off the hook for tax shelter transgressions in 2005. KPMG [...]

By: re: The Auditors » Blog Archive » Deloitte – A Culture of Non-Compliance?

Thu, 05 Aug 2010 03:29:15 +0000

[...] be a rat to the profession, but Mother Deloitte also deserves to be tried, and not allowed to throw its babies under a bus. Thanks for subscribing to the re: The Auditors feed. Please tell a colleague [...]

By: re: The Auditors » Blog Archive » PwC and AIG – Way Past The Time To Resign

Mon, 01 Feb 2010 03:17:34 +0000

[...] My next question is: Where is the SEC on this issue? When will they force the Big 4 to publicly disclose how much they have in reserve to protect the investor public, their other clients, their employees and partners, their business communities and their vendors from a nuclear bomb? [...]

By: re: The Auditors » Blog Archive » Looking Out For Me, Myself, And I

re: The Auditors » Blog Archive » Looking Out For Me, Myself, And I — Sun, 15 Mar 2009 23:43:13 +0000

[...] at PCAOB is even cold? Even the SEC has stricter rules. Remember, Mr. Ray was at the PCAOB when KPMG escaped the guillotine in the tax shelter case. Mr. Ray presided over investigations of partner misconduct at Deloitte. [...]

By: Francine McKenna

Francine McKenna — Mon, 10 Nov 2008 01:18:00 +0000

@5:47

I'm going to address this question on a blog post hopefully tomorrow. Many asking about Deloitte's future given insider trading issue and subprime client losses and litigation and others asking where a new grad should go given the issues all the firms have.

So many things to write about...

By: Anonymous

Anonymous — Sun, 09 Nov 2008 23:47:00 +0000

Francine – do you still think that KPMG will fall next? What about Deloitte? Rumor has it that Deloitte’s handling of the Bear Stearn audit is a big case against it.