Event
KPMG’s use of PCAOB inspection data
Senior people at KPMG’s U.S. firm obtained confidential PCAOB lists of planned inspections and used them to revise audit work; settled with the SEC in 2019.
Connections 2
involved
- KPMG LLP the firm whose personnel obtained the data Scholarship & press 1
- Public Company Accounting Oversight Board the inspector whose confidential lists were obtained Scholarship & press 1
Proof 1 source
-
KPMG to Pay $50 Million for Using Stolen Data, Exam Cheating, Chief Investment Officer, 17 Jun 2019.
Scholarship & press
improperly obtained and used confidential information belonging to the PCAOB
The SEC said KPMG sought the information because it had experienced a high rate of audit deficiency findings in prior PCAOB inspections
The information obtained included lists of the specific audit engagements the PCAOB planned to inspect, the criteria the PCAOB used to select engagements for inspection, and the focus areas of the inspections.
Page history 1 change
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