Federal prosecutors have notified as many as 20 former partners at Big Four firm KPMG LLP that they may face criminal charges for selling illegal tax shelters.
According to The Washington Post, "tough concessions" from KPMG are likely to be the price of any settlement, although lawyers are still investigating individual executives and weighing whether or not to press criminal charges against the firm. The report said that negotiations between KPMG and prosecutors were continuing and a resolution could be weeks away.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access