Financial Accounting News

2 Found Guilty in KPMG, Audit Regulator Cheating Scandal

March 11, 2019, 9:23 PM

KPMG LLP’s former head of professional practice and a former staff member of the U.S. audit regulator have been found guilty of federal fraud charges.

  • The guilty verdicts were returned March 11 against David Middendorf and Jeffrey Wada, who were accused of conspiring to steal audit inspection plans from the Public Company Accounting Oversight Board in order to improve the results of the firm’s annual review.
  • Four others were also charged in connection with the case.

To contact the reporter on this story: Amanda Iacone in Washington at aiacone@bloombergtax.com

To contact the editors responsible for this story: Jeff Harrington at jharrington@bloombergtax.com; Patrick Ambrosio at pambrosio@bloombergtax.com

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