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CCO learning from the KPMG indictments

Tom Fox | January 25, 2018

As you would expect, Tammy Whitehouse has already put out some great pieces on the KPMG indictments. Yet, the scandal is so huge there are multiple angles to mine for the compliance practitioner. The confidential information stolen from the PCAOB and given to KPMG regarded the timing of PCAOB reviews of KPMG audits, which had come under fire from several clients and under scrutiny by the PCAOB. Three PCAOB employees were, apparently, offered jobs if they provided KPMG with information on the PCAOB’s planned reviews of certain KMPG audits of specific public companies. The confidential information was used to not only prepare for the PCAOB reviews, but also to change prior audits and work papers, which would be reviewed by the government as a part of their its review process.

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