Methinks the chairman doth protest too much. In a carefully worded letter to the House Committee on Energy and Commerce this week, KPMG chairman Eugene O'Kelly delicately backpedaled from remarks he made about a meeting with Securities and Exchange Commission chairman Harvey Pitt.

To recap: In an internal e-mail which was promptly leaked to the media last week, O’Kelly said that during his meeting with Pitt, they discussed an SEC probe of the firm related to its audit of Xerox. Pitt characterized the meeting as merely a courtesy call and said the pair never discussed any enforcement matters.

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