Accountancy Age reports:
The Securities and Exchange Commission (SEC) yesterday filed a settled enforcement action against a Larry Rodda, a former KPMG Consulting principal and managing director, for his role in deceiving investors in a major corporate accounting fraud at the San-Diego, California-based Peregrine Systems.
On January 23, Rodda was sentenced to six months in the custody of the Bureau of Prisons, six months of home detention and two years of supervised release. Twelve other executives - including Peregrine's former chief executive officer and chief financial officer - have pleaded guilty in the ongoing criminal case.
And still they're the people the UK government calls on for help. Sure I know this was the US branch - but let's be clear. it's one firm. And let's be clear, the problems are with senior people.
So why do they retain any credibility?