Why stop at corrupting capitalism when you can corrupt democracy as well? KPMG is the sole auditor for Swiss electronical voting.
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Here in South Africa KPMG’s name is still so dirty from its involvement with state corruption, many media outlets specifically prevent journalists from quoting any of their “experts” or using any of their analysis reports as sources of information for reports. Same for McKinley. https://ewn.co.za/2018/12/10/kpmg-south-africa-appeals-for-second-chance-after-corruption-scandals
Course, that probably just equates to disproportionate coverage for EY, Gartner, et al… but it’s a start. (I’m a freelance journalist in South Africa, for reference)
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And with lack of ethical integrity of this magnitude, you can just guess how they’ll pay that fine…
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The issue is actually that the big-4 are not partnerships anymore since decades. Partners have no personal liability and that obviously causes many of these problems. The main purpose of the big-4 is anyway to dilute accountability of managers and regulators and for that they are paid quite well.
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IIRC, that’s also behind a lot of the problems with the big Wall Street investment banks. They used to be partnerships, but are now LLCs, with responsibility and personal liability diluted or nonexistent.
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Is there anything worse than corporate videos?
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I used to work for a company that was acquired by KPMG (after I had left). Said company had some pretty ugly stuff going on (fudging research results - oh let’s change the sample until we get the result the client wants, enabling racism in at least one country, bullying staff, all the usual corporate BS) so I rather hope that some of my most deserving ex-‘colleagues’ get caught up in this and that figurative heads roll.
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Barney Stinson’s job title was a peak behind the curtain. P.L.E.A.S.E.
Provide
Legal
Exculpation
And
Sign
Everything
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It’s a horrible job though. Compromised souls. Every step of the way. They train in it and the good, marketable people leave asap. You’re left with dedicated compromisers, and worse.
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It is an utterly broken system, and it is a mystery why the regulators and governments ever agreed to it. There is little point in dealing with all the ethical issues with the big-4, as long as this fundamental flaw is not resolved.
I’m late to this party, but I used to be a federal auditor, and am now a state auditor. When we review CPA firms for audits, and it’s a joke. They just go checklist everything, and walk off. They are paid by the client, and there is no incentive to actually audit shit. Very often, we have to redo all their audit work because it’s not up to standards.
I’m not entirely shocked.
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