March 2023
KPMG’s US boss said it stood behind its audits of Silicon Valley Bank and Signature Bank, which collapsed within days of putting out annual reports certified by the Big Four accounting firm.
Paul Knopp said its audit work considered all the facts available at the time the reports were issued, and that “market driven events” in the intervening days led to the banks’ failures.
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Source: www.irishtimes.com