{"id":23055,"date":"2013-11-11T07:38:54","date_gmt":"2013-11-11T07:38:54","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=23055"},"modified":"2013-11-11T07:38:54","modified_gmt":"2013-11-11T07:38:54","slug":"how-can-kpmg-be-a-fund-manager-and-an-auditor","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/11\/11\/how-can-kpmg-be-a-fund-manager-and-an-auditor\/","title":{"rendered":"How can KPMG be a fund manager and an auditor?"},"content":{"rendered":"<p>I<a href=\"http:\/\/www.ft.com\/cms\/s\/0\/8f66a44e-489e-11e3-8237-00144feabdc0.html#ixzz2kJuPMGE0\" target=\"_blank\"> wrote last week about the credibility of auditing<\/a>,\u00a0or the lack of it. As if on cue to prove my point on independence the FT reports this morning:<\/p>\n<blockquote><p>KPMG, the giant professional services company, will on Monday launch its first investment fund as it branches out into other areas in a sign of the big changes afoot in the financial services industry.<\/p>\n<p>The move is significant as the fund will invest in data and analytics businesses, which are increasingly popular with investors as technology is considered a growth area that should benefit from economic recovery.<\/p>\n<p>The group, one of the big four professional services companies employing 152,000 people around the world in 156 countries and with combined revenues of $23bn, is creating KPMG Capital, a new wholly owned fund.<\/p><\/blockquote>\n<p>There's a simple question to ask. How can KPMG be both an auditor and investment fund manager without major conflicts of interest arising? I just do not see how that is possible. In which case I think it's fair to question why they have an audit licence.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I wrote last week about the credibility of auditing,\u00a0or the lack of it. As if on cue to prove my point on independence the FT<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2013\/11\/11\/how-can-kpmg-be-a-fund-manager-and-an-auditor\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[81,16,23],"tags":[],"class_list":["post-23055","post","type-post","status-publish","format-standard","hentry","category-auditing","category-ethics","category-kpmg"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/23055","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=23055"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/23055\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=23055"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=23055"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=23055"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}