re: The Auditors Blog – Francine McKenna

My take on the latest at the PCAOB and KPMG

November 3, 2019/in Audit Firm Management, Featured, PCAOB, Regulators, Laws, Standards, Regulations, The Case Against The Auditors

In Episode 449 of the FCPA Compliance Report, I spoke with Tom Fox to discuss the current status of the KPMG defendants and what their conduct means for the audit profession going forward.

Update: Botta v. PricewaterhouseCoopers LLP, Case 3:18-cv-02615-RS

June 30, 2019

A judge denied PwC's motion for summary judgement. The case goes to trial in October. Mauro Botta brought an action in district court in California against PricewaterhouseCoopers LLP alleging that PwC wrongfully terminated him in retaliation for a whistleblower complaint he made to the Securities and Exchange Commission about PwC's auditing practices. There's been a lot written about the case, which is ongoing.

An SEC Fine for KPMG in the PCAOB Data Theft Scandal and Another Horrible Revelation

2 Comments

June 26, 2019

“Innovation demands risk-taking… which, in turn, entails redefining failure, stripping away its power to inhibit.” Chairman and CEO of KPMG Lynne Doughtie

Amazon and taxes, oh my!

February 18, 2019

Jeff Bezos has bigger problems than the Queens pull-out…

Update: KPMG: Whittle and Holder Plead Guilty

November 28, 2018

KPMG partner Thomas Whittle broke ranks on October 29 and pleaded guilty to all five criminal charges. He is now cooperating with prosecutors. Do you have more information about this case? Leave a comment here, one I can leave unposted, if you wish to communicate confidentially or DM me on Twitter @retheauditors for Signal encrypted confidential messaging instructions.

More on KPMG and the Precedents for Possible Punishment

April 23, 2017

Why did they do it? The WSJ walks around the question but KPMG may face big fines and, I think, its partners and the PCAOB professional could face criminal charges.

$99 Million Buys EY Ticket Out Of Private Lehman Litigation, Finally

3 Comments

October 21, 2013

Last defendant standing. Not an enviable place for EY in the case, In re Lehman Brothers Securities and Erisa Litigation. Holding out until the end has now cost EY $99 million, more than Lehman officers and directors.