KPMG is appealing a professional malpractice and negligence verdict after a
Jersey jury awarded Cast Art more than $41m in damages.
Cast Art sued KPMG in 2003 for for failing to detect financial fraud at
NJ-based Papel Giftware which Cast Art acquired in December 2000, claiming KPMG
knew of the fraud but purposely overlooked it in order to assist the chairman of
Papel’s board, who provided significant business to KPMG. WebCPA
KPMG argued in its defense it had indicated during the three years it was the
auditor of the company there were problems, but Cast Art decided to buy Papel
‘We do not believe that there is a factual basis for this verdict, and are
it will be reversed on appeal,’ Dan Ginsburg, KPMG spokesman, said.
Richard Cartwright becomes the new head, taking over from incumbent head of office David Lemon
Brian Burke, business development director, has moved within the firm to 'develop Quantuma’s networks with Sussex professional firms'
Stephen Mills joins the Manchester office from IBM, where he spent 12 years as an associate partner in the data, analytics and cognitive consulting group
Rupert Guppy will be responsible for capital allowances in the southern region, and joins the firm from specialist consultancy E3 Consulting