*NEWS*K.P.M.G. CHARGED FOR XEROX AUDIT !

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*NEWS*K.P.M.G. CHARGED FOR XEROX AUDIT !

 user 2003-10-07 at 2:37:00 pm Views: 172
  • #7620
    5th KPMG Partner Is Charged in Xerox Case
    Securities and Exchange Commission Charges Fifth KPMG Partner for Their Roles in Auditing Xerox

    The Securities and Exchange Commission has filed civil charges against another KPMG LLP partner, bringing to Five the number of partners charged for their roles in auditing Xerox Corp.

    According to the agency, it amended its complaint against the firm Friday to add Thomas Yoho for his role in permitting copier giant Xerox to manipulate its accounting to close a “$3 billion gap between actual operating results and results reported to the investing public.”

    Between 1997 and 2000, the SEC alleges that the five KPMG auditors falsely represented to the public that their audits were conducted in accordance with generally accepted auditing standards and that Xerox’s financial reports fairly represented the company’s financial condition.