KPMG Gave Bankrupt Banks Clean Bill Of Health Days Before Collapse
KPMG Gave Bankrupt Banks Clean Bill Of Health Days Before Collapse
View Source | March 15, 2023 10:19 pm
- One of America’s leading audit firms, KPMG, is defending giving both Silicon Valley Bank (SVB) and Signature Bank a clean bill of health just days before they collapsed last weekend.
- The banks imploded when customers rushed to withdraw their savings in panic-fueled bank runs. The two banks collapsed shortly after their respective annual reports were certified by KPMG.
- KPMG is one of the so-called “Big Four” accounting firms.
- Paul Knopp, CEO of KPMG’s U.S. operations, said that he stands by the firm’s audit work on SVB and Signature.
Click to read full article
Go back home
Share This Article: