PFBlog logo

My Personal Finance Journey

Personal finance observation, musing and decisions in a journey toward financial independence by 36 with at least $1 million.
  Home | Feed: feed-icon.gif | About | Progress: June 07: $756,924 | Best of PFBlog | Product Reviews | PFBlog Digest | Disclaimer | Advertise | Contact Me

...

KPMG Faces Indictment Risk On Tax Shelters

Contributed by mm | June 16, 2005 10:40 AM PST





I'd rather we don't lose another major accounting firm. Those at DOG should learn some lessons from the recent reversal of the Arthur Andersen case.

From Wall Street Journal:

Federal prosecutors have built a criminal case against KPMG LLP for obstruction of justice and the sale of abusive tax shelters, igniting a debate among top Justice Department officials over whether to seek an indictment -- at the risk of killing one of the four remaining big accounting firms.

...

To avoid the possible loss of another big accounting firm, Justice Department options include seeking some other resolution of the case. One possibility is the deferred-prosecution agreement, which has become increasingly common in the past year and often is preceded by threats to seek indictment of a firm. Under these deals, a company avoids a criminal trial in exchange for agreeing to extraordinary oversight, sweeping changes in business practices and often a big fine.
What do you think of this post? Be the first to share your opinions.

Enjoy the latest personal finance news and commentary at PFBlog Network.
Similar Posts

Wall Street Scrambles to Analyze Cable Deal (June 21, 2005)
Yes, history has proven big money can be made by taking companies private before repackaging and selling them.
KPMG May Dodge One Bullet, Only to Face Another (June 21, 2005)
Woo. I didn't realize the money involved in this scandal is this big. KPMG has to be punished, but I don't want to see it to close the door like Arthur Andersen.
Saks, Struggling to File Annual Report, Gets Notice of Default From Debt Holder (June 16, 2005)
I should say this is a new business model for the hedge fund industry :-)
G.M. Board Wants Cut in Benefits (June 15, 2005)
The union workers should know they are earning more than they deserve in a competitive market.

Read all 48 articles in the same category.

Read More ... All Other Posts In The Same Category

07/22/06 | Microsoft Announces Share Repurchase Program
05/03/06 | A Microsoft, Yahoo Tie-Up? | (1)
03/12/06 | Microsoft's Tax Gambit
03/04/06 | Warren Buffett Has A Successor! | (1)
08/30/05 | Report Has Microsoft Opening NYC Retail Store
08/25/05 | Northwest Hardens Line With Strikers
08/22/05 | Well-Laid Plan Kept Northwest Flying in Strike
08/22/05 | Microsoft's Stock Stirs from Years of Slumber
08/22/05 | New CFO Aims to Revive Microsoft Stock
08/22/05 | Microsoft Reveals Xbox 360 Pricing
08/20/05 | Mechanics Strike But Northwest Air Aloft
08/20/05 | Six 5-Star Stock Ideas from Master Investors
08/20/05 | Delta Pilots Warned Of Falling Cash Levels
08/20/05 | Northwest Mechanics Go On Strike
08/11/05 | Northwest Airlines, Mechanics Hurtle Toward Showdown
08/05/05 | Microsoft Hires Wal-Mart Exec
08/04/05 | Microsoft Names Turner As Chief Operating Officer
08/02/05 | Still Growing, Still a Bargain
07/10/05 | The Reward for Leaving: $113 Million
07/05/05 | Busy Bank of America Loads Up on Challenges
07/04/05 | MBNA's Hammonds to Benefit From Firm's Old, Lavish Ways
07/01/05 | Microsoft to Pay $775 Million To Settle IBM Antitrust Claim
06/30/05 | Morgan Stanley Taps Mack as CEO
06/27/05 | Morningstar Chief to Buy 2 Magazines
06/24/05 | Oracle's Ellison Recruits Maffei To a Senior Role
06/23/05 | GE to Reorganize Into 6 Business Units
06/22/05 | China's Cnooc Nears Bid For U.S. Oil Company Unocal
06/21/05 | Ameritrade Close to Deal to Buy TD Waterhouse
06/21/05 | Wall Street Scrambles to Analyze Cable Deal
06/21/05 | KPMG May Dodge One Bullet, Only to Face Another
06/16/05 | Saks, Struggling to File Annual Report, Gets Notice of Default From Debt Holder
06/15/05 | G.M. Board Wants Cut in Benefits
06/14/05 | H-P's New Chief Separates PC Unit From Printer Arm
06/13/05 | Morgan Stanley's Purcell To Step Down as CEO
06/12/05 | Chairman of Northwest Selling Shares
06/12/05 | Searching for a Reason to Buy Google
06/12/05 | Acting Like a Chief While Still Officially in the Wings
06/12/05 | 9 Resign at Morgan Stanley to Take Jobs at Wachovia
06/12/05 | What's Bad for G.M. Is . . .
06/12/05 | Amtrak: Stuck in Its Tracks
06/10/05 | The Toyota Files
06/10/05 | Anatomy of a Google Price Target
06/06/05 | General Re Executive Pleads Guilty, Will Assist in Probes
06/01/05 | CSFB Pegs Google's Upside at $350
05/31/05 | Taking a Look at TiVo
05/30/05 | Catch Pfizer While It's On The Mend
05/30/05 | A Front-Runner at Microsoft, But There's No Race Yet


Random Links
How To Select A Franchise? (Courtesy of Quick Millionaire)
A Brief Introduction To Florida Bankruptcy Laws (Courtesy of Real Bankruptcy)
Kraft (KFT) Spin-Off At Altria (MO) Is Near (Courtesy of Stock & Options Trading)
How To Get Corporate Reports? (Courtesy of Stock & Options Trading)
Why Owning Is Better Than Renting? (Courtesy of Mortgage ABC)
Life Insurance Buying Tips (Courtesy of Term Life Insurance Blog)
How To Rebuild Poor Credit? Things To Do And Not To Do (Courtesy of Best Credit Card Guide)
Building Wealth With Annuities - Fixed Annuity (Courtesy of Smart Annuity)
401(k) Balance Is Rising (Fast) (Courtesy of Smart Retirement Savings)
How Long Is The Credit Card Grace Period? (Courtesy of Best Credit Card Guide)
Deciphering Reverse Mortgage Cost: Mortgage Insurance Premium (Courtesy of Reverse Mortgage Blog)
Credit FAQ: What Is Promotional Inquiry? (Courtesy of Best Credit Card Guide)
Top 10 Things You Should Know About Reverse Mortgage (Courtesy of Reverse Mortgage Blog)
Do-It-Yourself Debt Settlement Is A Good Alternative To Bankruptcy (Courtesy of Real Bankruptcy)
What Is Level Term Life Insurance? (Courtesy of Term Life Insurance Blog)
Different Types Of 529 Plans (Courtesy of Smart College Savings)
Life Expectancy Table (Courtesy of Term Life Insurance Blog)
Best and Worst Auto Insurance Premium by State (Courtesy of Auto Insurance Blog)
How To Survive On $12,000 A Year (And Still Save) (Courtesy of Smart Retirement Savings)
Best 529 Plans (Courtesy of Smart College Savings)
Is Bankruptcy for You? (Courtesy of Real Bankruptcy)
What Are The Diffeent Kinds Of Term Insurance? (Courtesy of Term Life Insurance Blog)
Good Questions For Target-Date (Lifecycle) Funds (Courtesy of Mutual Fund Talk)
Many Fund Manager Changes At Fidelity (Courtesy of Mutual Fund Talk)
Money Magazine: Best Mid-Cap Stock Funds for 2006 (Courtesy of Mutual Fund Talk)















This page was last rebuilt at April 01, 2008 09:18 AM.

PREMIUM SPONSORS

Car Loans
Dallas Bankruptcy Attorney
Personal Loans
Car Finance
Homeowner Loans
Cheap Car Insurance
Mortgages UK & CCJ Mortgage
Used Cars
Loans
Commercial Mortgages and Business Loans
Guaranteed Car Finance
Payday Loan
Personal Loan
Student Loan Consolidation.com
Secured Loans
Bad Credit Loans - Free Quote

  buy ad here ...


SITE REVIEWS

Low Cost Loans
Cheap Loans
Google
Web PFBlog

CREDIT CARD RECOMMENDATIONS

Citi Dividend Platinum
American Express Blue Cash
Citi Driver's Edge
Citi Premier Pass
Discover More Card
Starwood PReferred Guest Credit Card from American Express
Citi mtvU for College Students
One from American Express





WHAT I READ

WSJ
CNN Money
SmartMoney
Kiplinger
Morningstar


AFFILIATED BLOGS

Credit Card Guide
Auto Insurance Tips
Term Life Insurance
Reverse Mortgage Guide
Personal Loan Blog

Mutual Fund Talk
Debt Consolidation Tips
Easy Mortgage
Bankruptcy Blog
Smart Annuity

Universal Life Insurance
College Savings
Retirement savings
Car Loan Tips
Stock Option Trading

Health Insurance Guide
Long-Term Care
Become A Millionaire
ETF Investment
No Identity Theft

Homeowner Finance
Payday Loans
Hedge Fund Report
Personal Tax
Smart Travel

PFBlog Digest
Money Blog
Insurance Blog
Saving Advice

 

 


POWERED BY

Easy Web Hosting $6.95