An insider-trading scandal has left Big 4 accounting firm KPMG reeling, but it has also created a crisis for the audit clients pulled into the fray, which now find themselves with a mess to clean up.
Faced with the sudden loss of their audit firm, which was forced to resign the engagements, and the nullification of a total of five years worth of audit opinions, officials at Skechers and Herbalife are now scrambling to find new auditors and catch up on regulatory filings.
