TITLE

Peregrine sacks KPMG

PUB. DATE
July 2002
SOURCE
Accountancy;Jul2002, Vol. 130 Issue 1307, p20
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports the sacking of accountancy firm KPMG Consulting AG by Peregrine Systems Inc. Following the fact that KPMG has uncovered "potential accounting irregularities" at the company which led to Peregrine overstating its results by as much as $100m, it launched an investigation and dismissed KPMG as their auditor just two months after it took over the audit from Anderson. U.S. Securities and Exchange Commission also set up its own investigation. Meanwhile PricewaterhouseCoopers LLP was brought in to continue and complete Peregrine's internal investigation. It has not been appointed independent auditor, but Peregrine is going through the process of appointing a new auditor at the moment.
ACCESSION #
11860585

 

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