The Securities and Exchange Commission said the former KPMG accountant who oversaw audits of Xerox Corp. will pay a $100,000 fine to settle charges that he failed to disclose accounting violations that came to his attention.
Joseph Boyle retired from the firm in 2003, and the alleged violations concerned audits of Xerox's financial statements from 1999 and 2000. Boyle, neither admitted nor denied wrongdoing, and will be suspended for a year from performing accounting work for any public company. The SEC also dropped a fraud charge as part of the settlement.
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