Senators Open Probe Into KPMG’s Relationships With Failed Banks

Two senators are looking into KPMG’s relationship with three recently failed banks, asking the firm for a wide range of documents for their initial inquiry.

Sens. Richard Blumenthal (D-Conn.) and Ron Johnson (R-Wis.) sent a letter to KPMG CEO Paul Knopp Wednesday asking for “all communications,” records “referring or relating to” the firm’s audits and advisory work, and a “complete list of all advisory work” between KPMG and Silicon Valley Bank, Signature Bank, and First Republic Bank.

The senators said in the letter they’re asking for the trove of documents under their authority to review “matters relating to auditing ...