- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Charges of fraud and conspiracy have rocked the audit profession and raised concerns about the regulatory process, leaving audit committees with more questions to ask auditors.
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After new allegations at KPMG of cheating on internal training tests, audit committees now have another area of questioning for their external auditors.
The SEC has fined KPMG for not only allegations of cheating on regulatory inspections, but also new charges of numerous auditors cheating on training exams.
The U.K. Financial Conduct Authority apologized to investors in peer-to-peer investment firm Collateral for not acting swiftly enough to prevent Collateral from defrauding its customers.
