Sunday, August 28, 2005

KPMG Strikes Deal Over Tax Shelters

Washington Post:
"KPMG LLP will pay about $450 million and open up its operations to independent review as part of a deal with federal prosecutors to avoid a criminal indictment that could have sent the nation's fourth-largest accounting firm into a death spiral, according to sources familiar with the pact."
Im glad to see this. I would hope this would be the first of many but I know it won't be (article says as much). Corporations are going to push too far someday.

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