SAN FRANCISCO (Reuters) - Auditor KPMG either initiated accounting fraud at New Century Financial Corp or stood idly by as the failed subprime mortgage lender committed fraud in 2005 and 2006, an independent report requested by the U.S. Department...

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KPMG, one of the "big four" global accounting firms, is facing criticism over its role in the collapse of New Century Financial, the sub-prime lender whose bankruptcy last year was an early clue to the severity of the credit crisis. A...
Those who were anticipating yesterday’s unsealing of the report on collapsed mortgage lender New Century — written by court-appointed bankruptcy examiner Michael Missal, a partner at Kirkpatrick & Lockhart — surely expected to read about a litany...

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How is it that KPMG, a “Big Four” auditor, is implicated in one of the US’s key subprime-mortgage implosions? JOHANNESBURG - Never mind the spawn of Enron, today we are just starting to get into the roots of the US subprime-mortgage bond...