Financial Accounting News

Ex-KPMG Employee Pleads Guilty to Tipping on U.S. Audits (1)

Oct. 16, 2018, 7:02 PM

A former employee of the auditing industry’s U.S. regulator admitted to leaking confidential information about planned inspections to KPMG LLP, allowing the accounting firm to improve its government audit results.

Cynthia Holder, who joined KPMG after several years at the Public Company Accounting Oversight Board, pleaded guilty Oct. 16 to wire fraud and conspiring to defraud the U.S. in federal court in New York. Holder, of Houston, will be sentenced April 5, a few months after the trial of her alleged co-conspirators is scheduled to start.

“I knew that my actions were unlawful,” Holder, who didn’t reach a plea...

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