New Partners and a Preliminary Settlement for KPMG

Things seem to be looking up for KPMG recently.

On Monday, U.S. District Judge Dennis M. Cavanaugh gave preliminary approval to a proposed $225 million class-action settlement by KPMG and Sidley Austin Brown & Wood
LLP, the Associated Press reports. KPMG would pay 80 percent of the settlement, according to the Associated Press.

A conclusion to the suit over the sale of questionable tax shelters would be good news for KPMG’s 166 new partners. The “Class of 2005” is the largest group of new partners admitted in the firm’s history and provides a range of services including audit (87), risk advisory services (50) and tax services (29) practices.

“I am pleased to announce this class of outstanding new partners,” said Timothy P. Flynn, chairman and CEO of KPMG LLP in a statement. “On behalf of all of us at KPMG, I offer my new partners and their families our congratulations. I look forward to working with them during an exciting and dynamic period in our profession.”


Already a member? log in here.

Editor's Choice

Upcoming CPE Webinars

Dec 3The materials discuss the concepts and principles in the AICPA’s new special purpose framework.
Dec 8Kristen Rampe will cover how to diffuse the tension in challenging situations in this one-hour webinar.
Dec 9A key component to improving your firm’s workflow efficiency while enhancing your profitability at the same time is how you leverage emerging technologies.
Dec 16Kristen Rampe will give tips on how to bring confidence into the room and build a valuable network.