The report states that the audit firm left depositors and investors unaware of the banks’ deficient recordkeeping, troubled risk management, and other concerning practices.
A lengthy report from the Democrats on a US Senate Homeland Security and Governmental Affairs subcommittee criticizes Big Four firm KPMG for the overly rosy and unqualified audit opinions it issued to Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank prior to their collapses in 2023.
The report
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