BDO Chief Defends Firm’s Reputation After First Brands Crash (1)

BDO’S US chief executive told staff this week that there is no link between the accounting firm’s work for collapsed auto supplier First Brands Group and its financial relationship with asset giant Apollo Global Management.

The firm will defend its reputation against what it described as “falsehoods and innuendos” implying a connection, Wayne Berson, CEO of BDO USA P.C., said in a statement Tuesday.

“The reporting that occurred last week attempting to link our audit relationship with First Brands to our relationship with Apollo was false. The two firms had no such connectivity,” Berson said in the message to BDO ...