{"id":29257,"date":"2015-06-06T07:43:42","date_gmt":"2015-06-06T06:43:42","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=29257"},"modified":"2015-06-06T07:43:42","modified_gmt":"2015-06-06T06:43:42","slug":"why-didnt-kpmg-blow-the-whistle-at-fifa","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2015\/06\/06\/why-didnt-kpmg-blow-the-whistle-at-fifa\/","title":{"rendered":"Why didn’t KPMG blow the whistle at FIFA?"},"content":{"rendered":"

From Francine McKenna<\/a>:<\/p>\n

\n

\u201cOf all the individuals and firms tied up in the scandal over bribery and corruption at FIFA, scrutiny has so far largely escaped KPMG, the soccer association\u2019s external auditor.\u201d<\/p>\n<\/blockquote>\n

That\u2019s the summary, and our quote of the day. The article continues:<\/span><\/p>\n

\n

\u201cThe accounting and consulting firm\u2019s Swiss member is responsible not only for the audit of the multibillion-dollar umbrella FIFA organization, and has been since before the period under scrutiny by U.S. and Swiss prosecutors, but also audits a large sample of member associations around the world that receive FIFA funding on an annual basis. KPMG also prepares a compilation of all financial reports after the completion of each four-year World Cup cycle.<\/p>\n

KPMG was also the auditor and adviser for the official Russia<\/a> and\u00a0Qatar<\/a> organizing committees when they prepared the winning bids that are now targeted in corruption investigations in the U.S. and Switzerland. KPMG continues to support Russia\u2019s organizing committee, while Qatar switched to Ernst & Young in 2011.\u201d<\/p>\n<\/blockquote>\n

And here\u2019s a particularly pathetic detail:<\/p>\n

\n

\u201cThe transactions highlighted by the DOJ indictment may not have met KPMG\u2019s materiality threshold, given the size of the organization.\u201d<\/p>\n<\/blockquote>\n

Enough said.<\/p>\n

Hat tip: Alex Cobham of TJN, and first posted on the\u00a0Tax Justice Network blog<\/a>.<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

From Francine McKenna: \u201cOf all the individuals and firms tied up in the scandal over bribery and corruption at FIFA, scrutiny has so far largely
 Read the full article…<\/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":[26,81,23,11],"tags":[],"class_list":["post-29257","post","type-post","status-publish","format-standard","hentry","category-accounting","category-auditing","category-kpmg","category-tax-justice-network"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/29257","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=29257"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/29257\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=29257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=29257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=29257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}