BusinessPeople In BusinessA taxing issue for KPMG

A taxing issue for KPMG

TS couldn’t help but wince as we read through the US Department of Justice’s agreement with KPMG over the firm’s tax shelter schemes. It was fined $450m (£252m) and was forced to agree to having a monitor stationed in its offices on a humiliating ‘he’s free to go anywhere’ kind of policy.

But just when you thought the DoJ was going for the jugular, it gets all friendly and agrees that KPMG can stay on as DoJ auditor. No conflict of interests there then! Mind you, perhaps the level of trust has dropped somewhat. The settlement is at pains to points out that KPMG’s $450m fine is not deductible for tax purposes. They wouldn’t have tried it, would they?

Related Articles

Colin: Is the grass greener in commerce, rather than practice?

More News Colin: Is the grass greener in commerce, rather than practice?

1y Stephanie Wix, Writer
Colin: World markets are 'Trumped'

Governance Colin: World markets are 'Trumped'

1y Stephanie Wix, Writer
Taking Stock: Life’s a puzzle for Ben Affleck in The Accountant

People Business Taking Stock: Life’s a puzzle for Ben Affleck in The Accountant

2y Taking Stock
Taking stock: Accountant film trailer has little Hart but big Johnson

People Business Taking stock: Accountant film trailer has little Hart but big Johnson

2y Taking Stock
Colin: New HMRC CEO 'parachuted' in

People Business Colin: New HMRC CEO 'parachuted' in

2y Taking Stock
Taking Stock: 'Application' for top HMRC job released

People Business Taking Stock: 'Application' for top HMRC job released

2y Taking Stock
Taking Stock: Affleck looks to UK for The Accountant inspiration

People Business Taking Stock: Affleck looks to UK for The Accountant inspiration

2y Taking Stock
Colin: End of Homer's HMRC Odyssey

People Business Colin: End of Homer's HMRC Odyssey

2y Taking Stock