Thursday, October 15, 2009

Police raid KPMG and Price Waterhouse Cooper in Iceland

Many think that auditors have some responsabilty in the Banking crash in Iceland .
KPMG and Price Waterhouse Cooper Audit companys in Iceland ,where raided by the Special prosecutor in Iceland on the 1. of october 2009.
It is done as a part of investigation into potential criminal activity at three collapsed national banks.

Computer data and documents where taken ,from KPMG and Price Waterhouse Coopers,which had the banks as clients.
22 Police officers and 6 foreign accountants raided the Audit companys.

The raid was suggested last spring by Jean Michael Matt, a french special court audit investigator.
It looks like that the raids are quite embarrasing for KPMG and Price Waterhouse Coopers.

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