In the article, the Editorial Board, 2017, report of leaked information, undermined the integrity of the regulatory process. Also author report that incident raises fundamental questions about the integrity of all public-company auditors. The reputation of KPMG took hit when it fired 5 partners, including the head of its audit practice in the United States, for “unethical behavior”. They were fired because they didn't report the leaked information they had received about to the Public Company Accounting Oversight Board. leaking information that was received will allow the partners to know in advance which audits will be checked. The author also states that KPMG acknowledges that leaking information "potentially" undermines the integrity of the regulatory process. The investing public wants to know when the leak occurred and what checks were carried out. the proper response to a bad score is to improve performance, not succumb to the lure of cheating on the test. KPMG could do nothing but to fire the partners, and the regulator now has to give an accurate idea of what happened. The author concludes that a quality audits are the bedrock of fair and transparent financial markets, but they turned out to be elusive and now the KPMG is at the bottom
In the article, "Auditing the Auditors", 2017, the authors report on some leaked information that undermines ... According to the author the incident raises fundamental questions about the integrity of all public-company auditors.
In an article published in the journal "editorial Board" maintains that leaked information, undermined the integrity of the regulatory process. Author of the article also maintains fundamental questions about the integrity of all auditors of public companies. The author goes on to say that the reputation of KPMG took another hit when it fired five partners for “unethical behavior”. They were fired because they failed to report on leaked information the had received about inspections planned by the firm's regulatory. The essence of the audits is to measure compliance with auditing rules. The leaked information enabled the partners to know in advanse which audits would be inspected. Author concludes that good audits are the bedrock of fair and transparent financial markets.
According to "Auditing the Auditors" raises the problem of "unethical behavior" during the audit process. For several years, auditors don't see violation occurring in the company. The point is to measure compliance with audit rules and give investors a benchmark for accessing the quality of firms results. The question of honesty of all public audit companies is acute, as auditors do not report leakage of information that undermines the integrity of the regulation of firms. The Public Company Accounting Oversight Board have to take steps to ensure the integrity of market and to train good auditors who form a transparent financial market.
According to "Auditing the Auditors" its primary focus is on the problem of "unethical behavior" during the audit process of KPMG, one of the Big Four accounting firms.
According to the authors, the explanation lies in its high deficiency rate, which means that inspectors find more mistaken and unreliable audits than good ones.
To sum up, the authors claim that good audits are the bedrock of fair and transparent financial markets. The way out of the current alarm situation comes to the further development of steps ensuring the integrity of markets.
According to the "Auditing the auditors", 2017, The Editorial Board notes about a leak of information in the auditing process and about the imperfection of the activities of state bodies in this process.
The author draws attention to the fact that KPMG being the auditor of a number scandal-scarred public companies takes hit after hit in auditing scandals deepening doubts about itself. After their employee's failing to report on leaked information about future audit inspection in the firm, which enable the partners to know in advance which audits would be inspected, and would give them a chance to make sure that any targeted audits are clean.
The author talks about statistics where the deficiency rate of a firm has decreased in one year after the regulatory body starts its activity reinforcing doubts about the high risk of information leakage from the regulatory body.
The author maintains that the proper response to fearing a bad grade is to improve performance, not succumb to the lure of cheating on the test and in this way The Public Company Accounting Oversight Board has to help fix mistakes and must take steps to ensure its own integrity and, in so doing, the integrity of markets.
According to the article "Auditors", 2017, it is said about the leakage of information about the results of the audit by the company's regulator.
The author of the article notes that doubts about KPMG are exacerbated by the latest violation in the reporting of public companies. As a result, partners and a KPMG employee were fired. KPMG also acknowledged that the leak "potentially" undermined the integrity of the regulatory process. The regulator now has no choice but to give the public a full picture of what happened, why and when, and what checks might be affected.
"Quality auditing is the backbone of fair and transparent financial markets. They have proven elusive - KPMG is at the bottom of the Big Four, but other firms also have alarmingly high deficit rates. The Public Company Accounting Oversight Board should have helped fix this, and now it must also take steps to ensure its own integrity and thus the integrity of the markets." - notes the author.
According to the "Auditing the auditors", 2017, The Editorial Board reports about a leak of information in the auditing process and about the imperfection of the activities of state bodies in this process. The author points out that for years KPMG was auditing scandal-scarred companies and didn’t see any violations. One more hit to the reputation of KPMG was firing of five partners and one employee because they failed to report on leaked information they had received about future audit inspection in the firm. This leakage gave them a chance to make sure that any targeted audits were clean. KPMG also acknowledged that the leak "potentially" undermined the integrity of the regulatory process. The regulator now has no choice but to give the public a full picture of what happened, why and when, and what checks might be affected. The author provides statistics which show us that the deficiency rate of a firm decreased exactly in one year after the regulator started its activity. This fact enhancing doubts about the high risk of information leakage from the regulator. The author concludes that the best way to the proper response to fearing a bad grade is to improve performance, not succumb to the lure of cheating on the test and that The Public Company Accounting Oversight Board was supposed to help fix that and now it, too, must take steps to ensure its own integrity and, in so doing, the integrity of markets.
According to "Auditing the Auditors" its primary focus is on the problem of "unethical behavior" during the audit process of KPMG, one of the Big Four accounting firms.
The author believes that after a number of scandals that occurred with KMPG, the latest breach deepens doubts about KPMG and, in the process, raises fundamental questions about the integrity of all public-company audits.
The reputation of KPMG, took hit by hit when The partners and one KPMG employee were fired because they failed to report on leaked information they had received about inspections planned by the firm’s regulator
The leaked information, which came from an employee at the regulator who no longer works there, enabled the partners to know in advance which audits would be inspected.
The author shows statistics where exactly a year after the start of activity the deficit level was reduced by more than 16, this fact increases doubts about the leakage of information
According to the authors, the explanation lies in its high deficiency rate, which means that inspectors find more mistaken and unreliable audits than good ones.
Of course, the proper response to fearing a bad grade is to improve performance, not succumb to the lure of cheating on the test.
To sum up, the authors claim that good audits are the bedrock of fair and transparent financial markets. The way out of the current alarm situation comes to the further development of steps ensuring the integrity of markets.
In the article, the Editorial Board, 2017, report of leaked information, undermined the integrity of the regulatory process. Also author report that incident raises fundamental questions about the integrity of all public-company auditors.
ОтветитьУдалитьThe reputation of KPMG took hit when it fired 5 partners, including the head of its audit practice in the United States, for “unethical behavior”. They were fired because they didn't report the leaked information they had received about to the Public Company Accounting Oversight Board. leaking information that was received will allow the partners to know in advance which audits will be checked.
The author also states that KPMG acknowledges that leaking information "potentially" undermines the integrity of the regulatory process. The investing public wants to know when the leak occurred and what checks were carried out. the proper response to a bad score is to improve performance, not succumb to the lure of cheating on the test.
KPMG could do nothing but to fire the partners, and the regulator now has to give an accurate idea of what happened.
The author concludes that a quality audits are the bedrock of fair and transparent financial markets, but they turned out to be elusive and now the KPMG is at the bottom
In the article, "Auditing the Auditors", 2017, the authors report on some leaked information that undermines ... According to the author the incident raises fundamental questions about the integrity of all public-company auditors.
УдалитьIn an article published in the journal "editorial Board" maintains that leaked information, undermined the integrity of the regulatory process.
ОтветитьУдалитьAuthor of the article also maintains fundamental questions about the integrity of all auditors of public companies.
The author goes on to say that the reputation of KPMG took another hit when it fired five partners for “unethical behavior”. They were fired because they failed to report on leaked information the had received about inspections planned by the firm's regulatory.
The essence of the audits is to measure compliance with auditing rules. The leaked information enabled the partners to know in advanse which audits would be inspected.
Author concludes that good audits are the bedrock of fair and transparent financial markets.
According to "Auditing the Auditors" raises the problem of "unethical behavior" during the audit process. For several years, auditors don't see violation occurring in the company. The point is to measure compliance with audit rules and give investors a benchmark for accessing the quality of firms results.
ОтветитьУдалитьThe question of honesty of all public audit companies is acute, as auditors do not report leakage of information that undermines the integrity of the regulation of firms. The Public Company Accounting Oversight Board have to take steps to ensure the integrity of market and to train good auditors who form a transparent financial market.
According to "Auditing the Auditors" its primary focus is on the problem of "unethical behavior" during the audit process of KPMG, one of the Big Four accounting firms.
УдалитьThe thing is that KPMG hide the fact of leaked information about inspections planned by the firm’s regulator.
УдалитьAccording to the authors, the explanation lies in its high deficiency rate, which means that inspectors find more mistaken and unreliable audits than good ones.
УдалитьHowever, instead of improving its performance, KPMG practice cheating on the test.
УдалитьTo sum up, the authors claim that good audits are the bedrock of fair and transparent financial markets. The way out of the current alarm situation comes to the further development of steps ensuring the integrity of markets.
УдалитьMedina Nurmagomedova
ОтветитьУдалитьAccording to the "Auditing the auditors", 2017, The Editorial Board notes about a leak of information in the auditing process and about the imperfection of the activities of state bodies in this process.
The author draws attention to the fact that KPMG being the auditor of a number scandal-scarred public companies takes hit after hit in auditing scandals deepening doubts about itself. After their employee's failing to report on leaked information about future audit inspection in the firm, which enable the partners to know in advance which audits would be inspected, and would give them a chance to make sure that any targeted audits are clean.
The author talks about statistics where the deficiency rate of a firm has decreased in one year after the regulatory body starts its activity reinforcing doubts about the high risk of information leakage from the regulatory body.
The author maintains that the proper response to fearing a bad grade is to improve performance, not succumb to the lure of cheating on the test and in this way The Public Company Accounting Oversight Board has to help fix mistakes and must take steps to ensure its own integrity and, in so doing, the integrity of markets.
Dayana Shihgasanova
ОтветитьУдалитьAccording to the article "Auditors", 2017, it is said about the leakage of information about the results of the audit by the company's regulator.
The author of the article notes that doubts about KPMG are exacerbated by the latest violation in the reporting of public companies. As a result, partners and a KPMG employee were fired. KPMG also acknowledged that the leak "potentially" undermined the integrity of the regulatory process.
The regulator now has no choice but to give the public a full picture of what happened, why and when, and what checks might be affected.
"Quality auditing is the backbone of fair and transparent financial markets. They have proven elusive - KPMG is at the bottom of the Big Four, but other firms also have alarmingly high deficit rates. The Public Company Accounting Oversight Board should have helped fix this, and now it must also take steps to ensure its own integrity and thus the integrity of the markets." - notes the author.
According to the "Auditing the auditors", 2017, The Editorial Board reports about a leak of information in the auditing process and about the imperfection of the activities of state bodies in this process.
ОтветитьУдалитьThe author points out that for years KPMG was auditing scandal-scarred companies and didn’t see any violations. One more hit to the reputation of KPMG was firing of five partners and one employee because they failed to report on leaked information they had received about future audit inspection in the firm. This leakage gave them a chance to make sure that any targeted audits were clean.
KPMG also acknowledged that the leak "potentially" undermined the integrity of the regulatory process. The regulator now has no choice but to give the public a full picture of what happened, why and when, and what checks might be affected.
The author provides statistics which show us that the deficiency rate of a firm decreased exactly in one year after the regulator started its activity. This fact enhancing doubts about the high risk of information leakage from the regulator.
The author concludes that the best way to the proper response to fearing a bad grade is to improve performance, not succumb to the lure of cheating on the test and that The Public Company Accounting Oversight Board was supposed to help fix that and now it, too, must take steps to ensure its own integrity and, in so doing, the integrity of markets.
According to "Auditing the Auditors" its primary focus is on the problem of "unethical behavior" during the audit process of KPMG, one of the Big Four accounting firms.
ОтветитьУдалитьThe author believes that after a number of scandals that occurred with KMPG, the latest breach deepens doubts about KPMG and, in the process, raises fundamental questions about the integrity of all public-company audits.
The reputation of KPMG, took hit by hit when The partners and one KPMG employee were fired because they failed to report on leaked information they had received about inspections planned by the firm’s regulator
The leaked information, which came from an employee at the regulator who no longer works there, enabled the partners to know in advance which audits would be inspected.
The author shows statistics where exactly a year after the start of activity the deficit level was reduced by more than 16, this fact increases doubts about the leakage of information
According to the authors, the explanation lies in its high deficiency rate, which means that inspectors find more mistaken and unreliable audits than good ones.
Of course, the proper response to fearing a bad grade is to improve performance, not succumb to the lure of cheating on the test.
To sum up, the authors claim that good audits are the bedrock of fair and transparent financial markets. The way out of the current alarm situation comes to the further development of steps ensuring the integrity of markets.