{"id":4812,"date":"2009-09-17T14:15:19","date_gmt":"2009-09-17T12:15:19","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=4812"},"modified":"2009-09-17T14:15:19","modified_gmt":"2009-09-17T12:15:19","slug":"kpmg-and-ethics","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2009\/09\/17\/kpmg-and-ethics\/","title":{"rendered":"KPMG and ethics"},"content":{"rendered":"<p><a href=\"http:\/\/www.accountancyage.com\/accountancyage\/news\/2249602\/kpmg-audit-head-defends-4824468\">KPMG audit head defends controversial Rentokil role  - Accountancy Age<\/a>.<\/p>\n<div class=\"content\">\n<blockquote><p>KPMG&rsquo;s audit chief has penned a strident defence of his firm&rsquo;s controversial Rentokil service, arguing the arrangement was ethically sound and caters for the &ldquo;unprecedented challenges&rdquo; faced by businesses today.<\/p>\n<p>Audit guidelines warn of two dangers when an external auditor takes on internal duties. The first concerns the potential for a company to audit its own internal work, while the second concerns auditors making management decisions.<\/p>\n<p>Controversy has centred on the potential mix of internal and external audit services the firm has offered, which has raised eyebrows across the audit industry in recent weeks.<\/p><\/blockquote>\n<\/div>\n<div class=\"content\">\n<p>Let's be blunt: there is no defence for this. It is flagrantly wrong. Internal audit is a management function. Holding that post and being external auditor has to mean you are in flagrant breach of all independence rules.<\/p>\n<p>But what do KPMG care? They have only one ethical yardstick - as has been proved time and again, which is the profit they make from a deal.<\/p>\n<p>This one makes them profit. So they'll do it.<\/p>\n<p>The answer is very obvious: strip their audit licence. It is clear they ae not fit and proper persons to act as auditors as they have proven they cannot identify a confluct of interest.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>KPMG audit head defends controversial Rentokil role &#8211; Accountancy Age. KPMG&rsquo;s audit chief has penned a strident defence of his firm&rsquo;s controversial Rentokil service, arguing<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2009\/09\/17\/kpmg-and-ethics\/\"><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":[81,23],"tags":[],"class_list":["post-4812","post","type-post","status-publish","format-standard","hentry","category-auditing","category-kpmg"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/4812","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=4812"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/4812\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=4812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=4812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=4812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}