KPMG loses audit of US’ largest mortgage lender

KPMG has lost the audit of Countrywide, the US mortgage lender stricken by
the subprime crisis and at one time the country’s largest lender.

New owner, Bank of America, has appointed PricewaterhouseCoopers to do the
audit, according to a Reuters report.

The news was revealed in a regulatory filing made in the US on Tuesday. The
filing by Bank of America said KPMG’s audit reports of 2006 and 2007 included no
adverse opinion on the lender’s books.

Prior to Bank of America’s acquisition Countrywide was the biggest mortgage
lender in the US.

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