I am not sure what planet KPMG are on. The FT report this morning that:
The total value of large frauds reported by UK corporates fell to £824m in 2012, its lowest level since 2004, but that may represent a temporary lull because groups continue to be hit hard by malfeasance committed by insiders, an annual survey by KMPG has found.
Hang on a minute. Have they heard of PPI, LIBOR rigging, HSBC's money laundering, and more. Or has all that been sanctified out?
This appears to be a wilful exercise in turning a blind eye to the fraud the Big 4 audited to me, but I'm sure they'd disagree.