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KPMG Unit To Pay $25M PCAOB Fine Over Cheating Claims

Law 360

KPMG Netherlands will pay more than $25 million to settle allegations from the Public Company Accounting Oversight Board of widespread answer sharing in its internal training program and misrepresentations about its knowledge of the misconduct, marking the largest fine PCAOB has ever imposed.

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Fallout From Accounting Class Actions Could Extend Beyond Issuers

Intelligize Blog

The number of filings that referenced financial restatements or insufficient internal controls also rebounded to levels seen prior to 2021, when such filings went through a significant one-year decline. That suggests litigants have started taking a broader swath of publicly traded companies to court. million to $15.5 million in 2022.

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PCAOB: Audits Getting Sloppier

Intelligize Blog

The overall quality of audit work has been poor for years and is only getting worse, according to a recent report from the Public Company Accounting Oversight Board. Notably, this group includes the so-called Big Four accounting firms of Deloitte, Ernst & Young, KPMG and PwC. deficiency.

Legal 52
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Making Crypto Available to Everyone

InHouseOps

What I was interested in was internal investigations. Long story short, I was at KPMG and Grant Thornton and then as a partner at Moss Adams, where I led nationwide litigation, forensic and investigation practices. Corporate malfeasance, embezzlement, things that were happening inside very large corporations that required attention.

Legal 52
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New California Legislation Would Be a Major Step Forward for Climate Disclosure

ClimateChange-ClimateLaw

If adopted, this legislation would have a global impact, as California is the fifth largest economy in the world, and companies around the world sell into California. Several leading companies including IKEA Supply, Microsoft, and Salesforce support the reform, and a number of smaller firms do as well. [5] 16] Most U.S.

Laws 98
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Crossing Legal’s Digital Divide with Contract Data

InHouseOps

We are a full contract lifecycle management solution, and we pride ourselves on being a very data-driven, customer-centric, and security-first company. In fact, a recent study by KPMG found that 76% of organizations say that the digitization of their contracting process is now a priority.