Cleaning Out the Stables.

More American corporate news:

The Big Four firm has fired five partners, including its head of audit Scott Marcello, for receiving improper warnings of regulator inspections

Six individuals in total have been let go by KPMG after it discovered they had received advance warnings of what audits were to be inspected by US regulator the Public Company Accounting Oversight Board (PCAOB). 

The leaks potentially undermined the integrity of the regulatory process and violated KPMG’s code of conduct.
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Marcello has held several high-profile positions for the firm, including the America’s leader for audit for KPMG International, former board of directors and currently sits on its management committee.

In a statement Lynne Doughtie, chairman and chief executive of KPMG, said, “KPMG has zero-tolerance for such unethical behaviour.
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KPMG later announced it has replaced Marcello with Frank Casal, who has been at the firm for 38 years. Doughtie said Casal is “widely regarded as a champion of professionalism and integrity”.