Financial Accounting News

Ex-KPMG Audit Partners Suspended for Sharing Exam Answers (1)

May 18, 2020, 10:09 PMUpdated: May 18, 2020, 11:30 PM

Three former KPMG LLP audit partners have been suspended from practice as a result of their efforts to cheat on the firm’s own internal training exams.

The conduct violated professional standards that require public company auditors to act with integrity, the Securities and Exchange Commission said Monday in an announcement detailing settled charges against the former audit partners.

In 2018, Timothy Daly and Michael Bellach exchanged questions and answers to the exams and deleted text messages about them, according to the SEC. Daly falsely told KPMG investigators that they hadn’t cheated or shared the test questions. John Donovan received answers...

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