SEC Looking at KPMG, First Union Relationship

WebCPA | Tools and Resources for the Electronic Accountant - An Investcorp and SourceMedia Publication

米ＳＥＣが、ＫＰＭＧと First Union Corp社（現Wachovia Corp）の間の独立性違反を調査しているという記事。ＫＰＭＧがこの銀行の監査人であった時期である１９９７年から２００２年にかけて、富裕な顧客に対してＫＰＭＧのタックス・シェルター助言業務を紹介したのではないかと指摘されています。

First Union, now known as Wachovia Corp. after a 2001 merger, allegedly referred wealthy clients to KPMG for tax shelter advice from 1997 to 2002 -- while KPMG was already serving as auditor and client for the banking firm, according to the Charlotte Observer. KPMG served as First Union's outside auditor during the sale of the shelters, whose legality has been called into question by the federal government.

ＳＥＣは２００３年からこうした取引が独立性違反ではないか調査しています。

Since 2003, the SEC has been looking into whether the arrangement might have violated auditor independence rules.