Passing Bull 319 – Untrustworthy accountants

Some of the nonsense coming from big accounting firms passes belief.  A lot of people at KPMG were found to have cheated in exams.  About 1100 were accused.  Of cheating between 2016 and 2020.  Many were found guilty.  A complicated process by a body having some regulatory function took a long time on it.  Some were fired.  Others cautioned.  The AFR says the watchdog is keeping the names and penalties secret. 

Obviously, public confidence in what used to be a profession does not rank with that watchdog – a very somnolent poodle.

I used the past tense because this report is one of those that suggests that these big firms are not professional.  If you are found to have cheated in an exam, you cannot be trusted. That being so, you would be a danger to the public.  You cannot therefore be or remain in the profession.  There is high authority for the proposition that these regulators are there to protect the public – not to punish the wrongdoer.

Instead we get this from KPMG.

Our integrity is not up for negotiation.  We have implemented a comprehensive remediation plan designed to respond to this matter, and we continue to strengthen our ethical culture.

That bullshit alone show that we are not dealing with professional people.

Ethics – accounting – KPMG – regulators.

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