By now the accounting profession is up to speed on KPMG acquiring Rothstein Kass. It was a pairing that kept the rumor mill churning. (see KPMG, Rothstein Kass Merger Official). Speculation on the merger went on for years, but resurfaced last summer after Rothstein Kass’ CEO, Steven Kass, sent out a memo telling his employees that the firm was “not for sale.”

“The interesting thing is that the while those rumors were persisting through 2013, there was no truth to them,” Kass told Accounting Today. He said the baseless rumors caused a disturbance throughout the organization, and he needed to shut down the chatter in the letter he wrote to his staff. “I think everybody has seen that letter. It was the truth, and I wouldn’t have sent anything like that if it wasn’t the truth.”

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