Search for: "KPMG, LLP"
Results 1 - 20 of 92
Sorted by Relevance | Sort by Date
13 Nov, 2006 7:28 pm
KPMG LLP will be forming a U.S. Private Equity Group as a dedicated practice to pull together all their top partners to assist the
larger Private Equity funds ... firms who consist of a few partners/analysts and rely heavily on external parties. As KPMG says, the U.S. Private Equity Group will work with
similar practices to better ... and put to work, with corresponding demand for Big Four services. So it appears that KPMG is doing the right thing to listen to market demands and
create a dedicated PE ...
30 Jan, 2007 8:06 pm
Mike Rake, Chairman, KPMG International has penned three down-to-earth, frank and whimsical notes in his WEF Diary while attending the action packed event at Davos from January
24 to 26, 2007. It is a mixture of personal observations, attendances at keynotes, ... been and can be accomplished by this group. We like Mr. Rake baring some of his soul, and sharing
his thoughts - it makes him so much more human. More frequent (non-Davos) blogs from him will be very welcome. See his diary at [www.kpmg.com]
12 Dec, 2006 4:59 pm
... 2004. Fannie said, ``Fannie Mae has determined that at least 30 accounting policies and practices approved by KPMG LLP were not
consistent with GAAP. It is difficult to imagine a clearer case of accounting malpractice." In response, KPMG ... GAAP for nearly every major accounting standard applicable to
mortgage financing companies. In short, Fannie dramatically alleges that KPMG abysmally failed to perform all its auditor duties. Clearly, at this point, it is just allegations,
and KPMG will probably ...
16 Feb, 2007 7:45 pm
... the firm on selling spurious tax shelters and Mr. O'Kelly, the previous KPMG LLP US Chairman stepping down abruptly to deal with
advanced cancer. Mr. ... indictment. Nonetheless, any such move would have been the kiss of death for KPMG LLP and a calamity in the
accounting industry, with the Big Four collapsing to the Big Three. ... still under the long tail of this tax lawsuit with several of the indicted partners suing KPMG for legal
fees and Judge Kaplan continuing to provide interesting twists every ...
1 Dec, 2006 4:53 pm
... US$16.9 billion grew 7.6% from US$15.7 billion in 2005 (KPMG LLP's fiscal year ends in September 30, 2006). In local currency terms,
revenue growth was 9.6%, indicating that the falling dollar reduced revenue growth by 2%. KPMG grew fastest at 42% in BRIC - Brazil, Russia, India and China, and captured some
... Markets grew greater than 11%, while Consumer Markets had the slowest growth at 4%. KPMG's stronghold, Financial Services is the largest industry, followed closely by
Industrial Makets. KPMG ...
18 Dec, 2008 2:36 pm
... has finally come to an end, the Wall Street Journal reports: A jury convicted two former KPMG LLP executives and a lawyer on
tax-evasion charges in a case once billed as the ... counts of tax evasion. Here's what Joe Kristan of Tax Updates Blog says, Thus ends the big KPMG tax shelter case that
resulted in the forced divestiture of much of KPMG's ... : KPMG Tax Fraud Case: Closing Arguments Made, Jury Deliberations Begin KPMG Tax Fraud Trial and the
Magical Tax Elimination Machine Bookmark & Share:
1 Apr 11:16 am
... firm Thomas, Alexander & Forrester LLP filed two suits today on behalf of a trustee of New Century Financial Corp. The suits allege
that the company's auditor, KPMG LLP, assisted in and certified "materially misstated financial statements," and that KPMG's
international parent is responsible for "the severely reckless and grossly negligent acts of its agent" that led to New Century's collapse two years ago. New Century, an Irvine ...
2 Apr 2:52 am
... of fiduciary duty. The California complaint, filed in the Los Angeles County Superior Court (copy here) against KPMG LLP, alleges
that the firm "did not act like a watchdog" but rather "acted like a cheerleader for ... York (copy here) substantially repeats many of the same allegations as the California complaint,
but addresses the alleged liability of KPMG's international parent. The complaint alleges that the parent represented that it would "ensure that member firms' work would meet
professional ...
25 Apr, 2008 4:42 am
... class action only to see his own case dismissed, EDWARD H. ARNOLD, Plaintiff, -against- KPMG LLP, and SIDLEY AUSTIN BROWN & WOOD
... Wood"), a law firm, for damages allegedly suffered when he bought tax shelters from KPMG with Brown & Wood's endorsement. The tax shelters, which were effectuated ...
scheme was continuous, the claim did not accrue against either Defendant until KPMG revealed its fraudulent conduct by entering into a deferred prosecution agreement with the
Department of Justice ...
16 Jun 2:20 am
... backdating-related gatekeeper claims, on June 15, 2009, Vitesse Semiconductor announced (here) that it had reached a settlement with its former auditor, KPMG LLP, in connection with the option backdating related allegations. In the settlement KPMG agreed to ... companies have filed against their outside
professionals in connection with the options backdating scandal. As noted here, KPMG is also the subject of a trustee's claim in connection with the New Century Financial Corp.
bankruptcy proceeding. ...
14 Jan, 2007 6:51 am
... Board released its reports on the audit inspections in 2004 for Ernst & Young LLP and KPMG LLP. Both firms got rapped for inconsistencies in audits in failing to fully ... support their findings. Ernst was chided for 10 failures (issuers A to J) and
KPMG was rapped for 11 instances (issuers A to K). These are inspections done in 2005 of 2004 ... Ernst and Young at least provided comments to each of the audit issues, while
KPMG did not even provide individual comments, simply saying "The feedback we ...
23 May, 2007 9:18 am
... the district court's orders, and dismissed the civil complaint. Stein v. KPMG, LLP, No. 06-4358 (2d Cir. May 23, 2007) (available at
www.ca2.uscourts.gov). The case stems from allegations that KPMG devised and marketed fraudulent tax shelters. The district court concluded that the government violated the
individual defendants' constitutional rights under the fifth and sixth amendments by pressuring KPMG -- under threat of indictment -- not to pay the ex-KPMGers' criminal defense
costs. The ...
11 Jun, 2007 8:26 pm
... 12, 2007 The federal judge overseeing criminal proceedings against 16 former KPMG LLP executives has been wrestling with a thorny
issue: how to ensure they get ... tax shelters, Judge Lewis A. Kaplan ruled last year. Attorneys for the former KPMG executives have argued that the fees are needed to ensure an
adequate defense. Failing that, they ... issue for July 2. LEGAL LIMBO • The Issue: After finding that prosecutors pressured KPMG to cut off legal fees for ex-partners indicted
for tax fraud, a judge ...
13 Oct, 2008 5:54 pm
It's not often that a Big Four accounting firm gets hit with a multi million-dollar jury verdict, as most either get dismissed or settled. But on Friday, KPMG LLP was hit with a $31.8 million verdict in a case alleging that the accounting firm negligently audited the ... lasted for more than four weeks. The verdict
is believed to be one of the largest ever rendered against KPMG, Michael Avenatti, lead plaintiffs counsel said, adding that damages will exceed $41 million when interest ...
28 Aug, 2008 3:33 pm
... New York (Kaplan, J.), dismissing an indictment against Defendants-Appellees, thirteen former partners and employees of accounting firm KPMG, LLP. We affirm the district court's ruling that the government deprived Defendants-Appellees of their right to counsel under the Sixth Amendment by causing
KPMG to place conditions on the advancement of legal fees to Defendants-Appellees, and to cap the fees and ultimately end them. Because the government ...
29 Aug, 2008 4:17 pm
"U.S. Court Upholds Dismissal of KPMG Tax Indictments": Bloomberg News provides a report that begins, "A U.S. appeals court upheld a judge's decision to throw out the indictment
of 13 former KPMG LLP executives for tax-fraud after finding federal prosecutors violated their constitutional right to ... in
KPMG case." law.com reports that "2nd Circuit Upholds End of Cases Against Former KPMG Employees." And today's edition of The Wall Street Journal contains an editorial
entitled "White- ...
14 Jan, 2007 7:49 am
... guilty to making false statements. This is in the government's suit in the fraudulent tax shelters marketed by former partners of KPMG LLP. Grandinetti said that he lied to a prosecutor and an IRS agent when he told them in March 2006 that he had disclosed to the UMDA's board that he received
secret side ... salesman, who did so recently. Prior to that, 3 of 19 defendants, one KPMG partner and 2 non-KPMG people also pleaded guilty. In terms of timing, the trial
has been postponed ...
29 Nov, 2007 5:01 pm
... all business lines and geographies. Advisory services and BRIC countries grew the fastest, to put KPMG's 2007 revenue just shy of $20 billion. Revenues shot up 17.4% to ...
business lines: Audit revenues increased 13.3% to US$9.39 billion. In 2007 KPMG LLP, the U.S. firm, regained the number 1 position as
the auditor for the largest U.S.-based ... % percent BRIC countries (Brazil, Russia, India and China) grew an amazing 41% In 2007, KPMG had 7,160 Partners up 3.9% from 2006;
92,924 Professionals up 10 ...
12 Jun, 2007 11:00 pm
... report on how the shadow of former Dynegy executive Jamie Olis is hovering over the pending criminal proceedings against 16 former KPMG LLP executives in New York. Larry Ribstein and Peter Lattman on the issues confronting the former executives in attempting to obtain a fair trial after the
prosecution browbeat KPMG to stop paying for their defense. As I've noted before, I think we are still too close in time to the barbaric treatment of ...
28 Sep, 2007 6:04 am
"KPMG Judge Questions Laws, Tactics Used in Corporate Cases": The Wall Street Journal today contains an article that begins, "The federal judge in the case involving allegedly
fraudulent tax shelters marketed by KPMG LLP said it may be time to re-examine laws governing corporate criminal liability and the
tactics used by prosecutors to investigate those cases."
Search on: Blawgs.FM | BlawgSearch Google Co-op | Blawg.com | Bloglines | Feedster | Google Blog Search | Technorati | Google | MSN | Yahoo!