Why Didn’t KPMG’s “Speak-Up” Culture Work? The recent scandal between KPMG and the Australian government centers around the firm’s solicitation of audit clients subsequent to receiving insider information about the bids from other firms to gain audit contracts. KPMG violated independence because of the conflict of interest emanating from ties of firm partners to board […]
KPMG-Australia Scandal: A Case of Decision Drift Read More »
ACCOUNTING FIRMS’ ETHICS SHOULD BE CAREFULLY SCRUTINIZED Having taught both millennials and Gen Z, I’ve always wondered the extent to which values and ethics are considered in the job search decision. Even if they want to consider it in their decision-making process, the question is how to do so. Candidates for positions can’t ask straight
DO MILLENNIALS AND GEN Z CARE ABOUT THE ETHICS OF POTENTIAL ACCOUNTING EMPLOYERS? Read More »
The Case of GE and KPMG A new rule adopted by the U.S. Securities and Exchange Commission requires disclosure of the tenure of a public company’s external auditor in the annual report. KPMG recently reported that it has audited GE since 1909. This raises the question of whether there should be mandatory audit firm rotation
Should Auditors Rotate Every 109 Years? Read More »
KPMG-PCAOB Scandal Raises Questions About Oversight of the Accounting Profession In an unprecedented event, on January 22, 2018, it was announced that a former Public Company Accounting Oversight Board (PCAOB) staffer, Brian Sweet, who was hired by KPMG in 2015, leaked confidential information about PCAOB’s plans to audit the company. Most of the leaked information
KPMG Compromises Integrity by “Stealing” PCAOB Inspection Information Read More »