An independent report requested by the U.S. Department of Justice shows: auditor KPMG either initiated accounting fraud at New Century Financial Corp or stood idly by as the failed subprime mortgage lender committed fraud in 2005 and 2006.
Still remember Enron, WorldCom and Arthur Andersen? This is gonna be a new case for business ethics teaching: You need to rotate the auditor more often otherwise the auditor becomes part of their team.
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