KPMG: A history up for audit.
Glowing reports masked major unsavoury business.
On several occasions over the years, Noseweek has noted KPMG’s willingness – for a handsome fee – to apply an audit gloss to some or other unsavoury business in order to give it the appearance of probity.
The drift is always the same. Early on we noted that KPMG had absorbed what remained of Arthur Andersen, the auditing company that collapsed under the weight of its bad reputation. It seems KPMG may have absorbed more than just the remains.