Three former KPMG audit partners have settled charges with the Securities and Exchange Commission (SEC) regarding the improper sharing of answers for internal training exams.
The settlements are part of a larger SEC investigation into KPMG that involved the firm improperly receiving inspection information from the Public Company Accounting Oversight Board (PCAOB)—a scandal that has so far resulted in a $50 million fine and jail time for several executives involved. The SEC uncovered a concerted effort by KPMG to subvert regulatory inspections by the PCAOB. During that investigation, KPMG disclosed that employees at all levels had been sharing internal test exam questions and answers.
