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Monthly Archive: December 2006

KPMG Tax Case: Another Twist

"The KPMG tax trial has had its share of twists and turns, and here is one more:

With trial originally set for January 2007, we now hear that Judge Kaplan has indefinitely postponed the criminal tax fraud trial. As we have said, 16 former KPMG partners are setting off against KPMG, and now the dispute has turned to who would bear […]

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PCAOB 2006 Report on Deloitte – Issues and Disagreements Too

PCAOB recently released its 2006 report on Deloitte and Touche LLP based on its inspection in 2005 and complying with Sarbox Act. The Board identified 17 unnamed public companies (Issuer A to Issuer Q) where it identified a variety of audit deficiencies, ranging from revenue recognition, inventory control, debt covenants, cash flow statement preparation, allowance for loan losses etc.

Deloitte responded […]

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