KPMG
ORG
KPMG
Four auditors from KPMG who were involved in its audits of the Xerox Corporation settled suits with the Securities and Exchange Commission, with two of them agreeing to pay the largest fines ever. Even after Xerox restated its results and accepted a fine of $10 million, KPMG insisted that it had acted properly and that the S.E.C. was pursuing the case to justify its large expenses in the investigation. KPMG argued that it forced Xerox to restate earlier financial results in 2000. KPMG settled with the S.E.C. in April 2005, as new leadership at the firm sought to put the legal issues behind it. Four auditors from KPMG who were involved in its audits of the Xerox Corporation settled suits yesterday with the Securities and Exchange Commission. Even after Xerox restated its results and accepted a fine of $10 million, KPMG insisted that it had acted properly and that the S.E.C. was pursuing the case to justify its large expenses in the investigation. KPMG settled with the S.E.C. in April 2005, as new leadership at the firm sought to put the legal issues behind it.