[ga] Fw: New Century Bankruptcy Examiner Says KPMG Aided Fraud

[jwkckid1@xxxxxxxxxxxxx]

All,

FYI

  Isn't this [ KPMG ] ICANN's auditor of choice?  Bit
concerning again?

-----Forwarded Message-----
>From: TS Glassey <tglassey@xxxxxxxxxxxxx>
>Sent: Mar 26, 2008 4:34 PM
>To: ST-ISC@xxxxxxxxxxxxxxx
>Subject: New Century Bankruptcy Examiner Says KPMG Aided Fraud
>
>Yeeee Ha!
>
>Subject: New Century Bankruptcy Examiner Says KPMG Aided Fraud
>
>
>In case you haven't heard.
>
> 
>
>New Century Bankruptcy Examiner Says KPMG Aided Fraud
>
>In the Enron debacle, one of the most disturbing disclosures was that Arthur 
>Andersen's technical accounting experts were overruled by the engagement 
>partners in Houston, allowing accounting decisions to be approved even though 
>Andersen's experts knew they were wrong.
>
>Other auditing firms assured me that no such thing could happen on their watch.
>
>Today the bankruptcy examiner for New Century Financial - a subprime lender 
>whose collapse just a year ago got the current mess going - is out with his 
>report. Parts of it are reminiscent of the bad old days, pre-Sarbanes Oxley. 
>
>http://www.bloomberg.com/apps/news?pid=20601103&sid=aXebBOZ3eBjQ&refer=news
>
> 
>
>http://norris.blogs.nytimes.com/2008/03/26/when-auditors-cave/?hp
>
> 
>
>
>
>
>
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Regards,

Jeffrey A. Williams
Spokesman for INEGroup LLA. - (Over 277k members/stakeholders strong!)
"Obedience of the law is the greatest freedom" -
   Abraham Lincoln

"Credit should go with the performance of duty and not with what is very
often the accident of glory" - Theodore Roosevelt

"If the probability be called P; the injury, L; and the burden, B; liability
depends upon whether B is less than L multiplied by
P: i.e., whether B is less than PL."
United States v. Carroll Towing  (159 F.2d 169 [2d Cir. 1947]
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