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Called to account: September 2019

In this month’s round up of the latest scandals, convictions and penalties, an ex-KPMG accountant is jailed over PCAOB inspection tip offs, a gambling-addicted Devon dairy trader sentenced in £900k VAT scam, a call centre boss and accountant get seven and a half years for £2.3m tax con, a builder is put behind bars for £100k tax fraud and a bouncy castle director gets banned

Former US KPMG director jailed over PCAOB tip-offs

Cynthia Holder, one of six accountants accused of tipping off KPMG about upcoming Public Company Accounting Oversight Board (PCAOB) inspections in order to improve the US firm’s audit scores, is the first to be jailed and has been handed an eight-month term for fraud.

Holder, a former PCAOB inspections leader who left the regulator to become a KPMG executive director, pleaded guilty to participating in a scheme to defraud the US Securities and Exchange Commission (SEC) and the PCAOB by obtaining, disseminating, and using confidential lists which detailed the specific KPMG audits the PCAOB was planning to review so that KPMG could improve its performance in inspections.

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