The Public Company Accounting Oversight Board has reportedly opened an investigation into KPMG's audits of mortgage finance company Fannie Mae.

The board last week authorized its enforcement staff to scrutinize KPMG's work, according to a report by The Financial Times. The PCAOB investigation will reportedly look into whether the Big Four firm breached auditing rules in its work on Fannie Mae. KPMG became Fannie's auditor in 1969.

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

Don't have an account? Register for Free Unlimited Access