Specifics of a deal are being hammered out between federal prosecutors and KPMG LLP, and the name of former Securities and Exchange Commission Chairman Richard Breeden is being floated to serve as in independent monitor of the firm's future activities.

An announcement is expected within the next week that will save KPMG from an indictment for its sale of allegedly illegal tax shelters. Investigators have said that the shelters may have cost the government more than $1.4 billion in taxes, and if the Big Four firm were to be found guilty in a court proceeding, it would be barred from doing work for publicly traded companies.

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