Professor Elam

Tuesday January  23 2018

This is a new link as the previous one did not work.

https://www.justice.gov/usao-sdny/pr/5-former-kpmg-executives-and-pcaob-employees-charged-manhattan-federal-court-fraudulent

It is one thing to be unethical. But as I read this article, demonstrating just how stupid one can be is something else.

KPMG wanted to improve its standing in the eyes of Federal Regulators. Rather than have employees take intensive training in Federal Regulation, the firm started hiring from the ranks of the PCAOB.  Then KPMG execs demanded information on  which of its audits the PCAOB planned to examine. The new hires were only too happy to oblige. One KPMG exec even reminded the new hire of where his paycheck came from.

And much of this is documented in firm e mail.

As I say, I never run out of new unethical examples of bad behavior.

Or as Blue Collar Comedian Ron White puts it,

You can't fix stupid.