[samtheman]

UN official Benon Sevan Iraq's new governing council has hired the accountants KPMG and the international law firm, Freshfields Bruckhaus Deringer, to investigate claims that large sums of money - which should have been spent on food and medicine for ordinary Iraqis - were diverted through oil "vouchers" to line pockets abroad.

So who is KPMG and who owns them?

I'm not impressed.

Call in the FBI. Or the NYPD.

Then I'll believe it.

[Loyal Buckeye]

KPMG is one of the largest international public accounting firms and one of the "Big Four" of accounting firms in the U.S. I would trust their work on this so long as the engagement scope is not unduly limited.

[PhilDragoo]

The History of KPMG

KPMG was formed in 1987 with the merger of Peat Marwick International (PMI) and Klynveld Main Goerdeler (KMG) and their individual member firms. Spanning three centuries, the organization's history can be traced through the names of its principal founding members - whose initials form the name "KPMG."

K stands for Klynveld. Piet Klynveld founded the accounting firm Klynveld Kraayenhof & Co. in Amsterdam in 1917.

P is for Peat. William Barclay Peat founded the accounting firm William Barclay Peat & Co. in London in 1870.

M stands for Marwick. James Marwick founded the accounting firm Marwick, Mitchell & Co. with Roger Mitchell in New York City in 1897.

G is for Goerdeler. Dr. Reinhard Goerdeler was for many years chairman of Deutsche Treuhand-Gesellschaft and later chairman of KPMG. He is credited with laying much of the groundwork for the KMG merger. In 1911, William Barclay Peat & Co. and Marwick Mitchell & Co. joined forces to form what would later be known as Peat Marwick International (PMI), a worldwide network of accounting and consulting firms.

In 1979, Klynveld joined forces with Deutsche Treuhand-Gesellschaft and the international professional services firm McLintock Main Lafrentz to form Klynveld Main Goerdeler (KMG).

In 1987, PMI and KMG and their member firms joined forces. Today, all member firms throughout the world carry the KPMG name exclusively or include it in their national firm names.

An accountant from Peat Marwick audited a bank I worked at in Boston in 1970.

I was more impressed with the auditor from the FDIC who could work the 9-key with either hand at blur speed while conversing intently with you, looking in your eye.

In point of fact President Bush and the coalition forces have done the audit of records found in the taking of Baghdad.

The report is in.

Kofi Annan, you have the right to remain silent.

If you give up that right you go directly to orange jumpsuit Disney World in beautiful Guantanamo Bay, Cuba.