Auditor: No surprise at payments made to Conrad Black

Former head of KPMG Hollinger audit grilled in trial

Written by AccountancyAge.com

Patrick Ryan, the auditor who headed the Hollinger account at KPMG, has testified at the lack of surprise shown by the head of Hollinger International audit committee when he was told that Conrad Black and other top executives made $15m (£7.5m) on a series of company asset sales.

When asked by defense attorney Ronald S. Safer if former Illinois governor James R. Thompson, the then Hollinger audit committee chairman, ‘fell of his chair’ when he was told of the payments to Black and others, Ryan said he did not and had ‘remained upright’.

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Safer was hoping to convince jurors that the head of the watchdog committee already was well aware of the payments, which prosecutors claim Black and other executives slipped past the newspaper company's board of directors.

Further reading:

Chief witness wraps up testimony against Conrad Black

Key witness in Black trial admits he lied

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