Episode 25 — Unraveling the KPMG Audit Scandal
In January 2018, the Department of Justice and the Securities and Exchange Commission announced criminal and civil charges against five KPMG and a Public Company Accounting Oversight Board employee arising from sharing of confidential audit inspection information by PCAOB employees with KPMG audit partners. A sixth defendant, a KPMG official and former PCAOB employee plead guilty and agreed to cooperate with the government investigation. The five defendants are charged with multiple counts of fraud and conspiracy.
In this episode, Michael Volkov outlines the scheme and describes details of the conspiracy.