HereComeTheAuditorsVille
Remember when it turned out that the bond rating agencies that were ranking crap paper-backed mortgage derivatives were actually in the pocket of the financial industry so that they could slice up all that crap and cram it into collateral debt obligations that they sold as gold for the fools?
Well, we all know how that turned out.
And while the circular double-dealing meant that many, many people lost their homes and worse while world's economy crashed, at least no one's health and wellbeing was (directly) imperilled.
Now, as Corey Doctorow notes, that may not be the case when it comes to circular double-dealing in the long term residential care business:
Gosh.
What could possibly go wrong?
Remember when it turned out that the bond rating agencies that were ranking crap paper-backed mortgage derivatives were actually in the pocket of the financial industry so that they could slice up all that crap and cram it into collateral debt obligations that they sold as gold for the fools?
Well, we all know how that turned out.
And while the circular double-dealing meant that many, many people lost their homes and worse while world's economy crashed, at least no one's health and wellbeing was (directly) imperilled.
Now, as Corey Doctorow notes, that may not be the case when it comes to circular double-dealing in the long term residential care business:
...(I)n Australia, the job of auditing residential eldercare homes' compliance with safety and anti-abuse rules has been outsourced to KPMG. While KPMG earns a mid-sized fortune from these audits, it earns far more advising the owners of residential aged care homes on how to beat those audits...
Gosh.
What could possibly go wrong?
3 comments:
Ahhh, KPMG, the favourite accounting firm of a certain premier of BC back in the day. The bespectacled, plaid shirt wearing head of the, in name only, BC Liberals, cons United, party. KPMG, if ya can’t get the financial report you want at least get the one you need. And hey, we’ll show you how to get that crown corporation out from the prying eyes of said public by turning it into a “private” in name only entity.
Graham--
Indeed.
(because I've got archives and I'm going to use 'em!...Which reminds me that I still owe you all a post on the (now disappeared) magical thinking of the 'no quid pro quo' letter that glided in after the $6 million deal ended the BC Rail trial)
.
As I recall that was the company which gave advise to clients on how to avoid paying taxes in Canada. Then some one working in a Swiss bank revealed what was going on. The fun part was harper "agreed" that the "guilty" would only have to repay what they owed. No fines, no interest to pay. Certainly a well connected company and one that ought to not be used by governments here in Canada. Australia would be smart to dump them also.
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