Tagged: auditor

Auditing firms and the mortage crisis

With lawsuits filed against KPMG claiming that “reckless and grossly negligent audits” helped acclerate the collapse of subprime mortage lender New Century Financial, Law Professor Tamar Frankel – an authority on securities law – reminds of the legal role played by auditors. “You cannot make accountants responsible for bad business plans or decisions.   But they […]