Tuesday, August 30, 2005

How to avoid indictment - fork over half a billion dollars

Feds charge former KPMG execs; firm to pay fine

So it looks like KPMG just got wacked for about half a billion dollars and some former senior partners will be walking the plank. KPMG itself escaped an indictment and entered into a deferred prosecution agreement.

My personal feeling is that the firm should have been indicted, a la Anderson. This would help reshape the accounting world, allowing it to shed old habits and evolve, much like how a forest fire clears out old growth for new growth...............

The accounting industry needs a good shake up..........if this can't do it, what will?

Why can't individuals get deferred prosecution agreements?


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