Another bad week for KPMG with the US Government pushing ahead with its tax shelter case, the firm being pinged $80 million for accoutning fraud and then being accused of Enron-style shenanigans with failed subprime lender New Century Financial.
Sphere: Related ContentThe US Government has been accused of abusing its powers in the prosecution of alleged wrongdoers. Now the prosecutors are getting their own back. They have asked the court to reinstate criminal charges against 13 former KPMG partners who were let off for peddling dubious tax shelters
Sphere: Related ContentSiemens is trying to move on from the bribery scandal by creating a new board position for legal and compliance issues. But investigations in Italy, Germany and the US are continuing and now there’s a probe into how much KPMG knew.
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KPMG has been hauled over the coals by the Public Company Accounting Oversight Board for some pretty basic deficiencies. Read through the PCAOB report , and you realize we are talking Accounting 101.
Sphere: Related ContentA judge has dismissed charges against 13 former partners of accounting giant KPMG. US attorney general Alberto Gonzalez says the US Government will be appeal but as the judge pointed out, there has been a fundamental violation of rights where the Government denied people the right to defend themselves in court.
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