Accounting firm KPMG LLP has made sweeping changes to its audit practice in the aftermath of a cheating scandal that tarnished its reputation and laid bare its struggles to comply with U.S. audit standards.
The shake-up started soon after the firm confessed to U.S. regulators in early 2017 that it knew in advance which audits would be reviewed as part of its 2016 annual inspection.
In recent public statements and documents, KPMG paints a picture of a new and improved audit firm. And the firm pledged that the steps it has taken will result in an improved 2018 inspection report ...
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