TS should start with two apologies. Firstly for the bad language that follows but secondly for coming to this email exchange between two KPMG partners a little late.
KPMG is in a lot of trouble in the US over its work peddling tax shelters to clients. Back in February a US senate committee report was published on the role of professional firms in the US tax shelter industry.
The report quoted an April 1999 email from the then head of the firm’s Washington tax practice, Philip Wiesner, to eight senior KPMG tax professionals urging final approval of a tax product called bond linked issue premium. ‘I do believe the time has come to shit and get off the pot,’ he endearingly urged his colleagues.
One recipients, Jeffrey Stein, then head of the tax operations, stuck with the theme. ‘I think it’s shit OR [his caps] get off the pot,’ he replied with grammatical precision. ‘I vote for shit’. Lovely.
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