Wednesday, July 8, 2009

KPMG Might Be Trying to Pick a Fight

The Radio Station came out with some fighting words in a report entitled, Focus on Transparency, regarding banks and how they haven't quit sucking at financial reporting.

They didn't waste their time naming measly players either. To wit:

"Investment banks, including Goldman Sachs (NYSE:GS) and Barclays Capital (LON:BARC) were in particular accused of inventing schemes to reduce their capital costs in the latest sign that financial market innovation is far from dead."

Color us shocked if Goldman and Barclays give a rat crap what the House of Klynveld thinks about their reporting but we suppose ten points can go to them for calling out some heavy hitters.

KPMG slams bank annual reporting [Director of Finance Online]

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