3 ms·

I'm wondering why the CEO called in KPMG for an independent audit. Was he expecting a different result? Or he just picked them to break the news?

• johannes1234321 6y ago
  Auditing is required by law.
• celticninja 6y ago
  Buys him time, the audit was necessary otherwise bonds/loans became due or a finance line would be withdrawn. By switching to KPMG he bought himself some time, probably to hide some of the assets they would likely try to seize, so that once he has done his 18 months he can go back to his multiple homes and yachts and live comfortably.
• trias 6y ago
  At some point you start believing your own lies so he probably thought everything would be fine and the markets would be calmed with another auditor confirming the results.
  • elliekelly 6y ago
    This exactly. Allegations of fraud had also bubbled up several times in the past and he was able to take care of them. I would imagine he didn't expect this time to be any different.
• corty 6y ago
  KPMG in german stands for Keiner Prueft Mehr Genau: nobody checks thoroughly anymore. I guess he just thought they would provide the desired result...