The former audit leader for KPMG LLP agreed to pay a $100,000 fine and to be censured for not quickly stepping in to halt a scheme to cheat on the firm’s regulatory inspections, which led to a $50 million fine for the firm.
Scott Marcello failed to supervise senior KPMG audit staff and didn’t “take appropriate action” when he learned in 2016 that staff had received confidential details of the firm’s upcoming inspection, according to a settlement order the Public Company Accounting Oversight Board released Tuesday.
Marcello, who separated from the firm in 2017, neither admitted nor denied the charges, ...
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