I mean, really.
The chairman of KPMG has dismissed as a “one-day wonder” the insider trading scandal involving the former head of the firm’s Los Angeles audit practice. Michael Andrew downplayed the global prominence of the controversy involving Scott London, a senior audit partner who has admitted leaking client secrets to a golfing partner who traded on the information. He told the Financial Times that the story grabbed headlines “because it was a slow news week”.
The KPMG chairman commended Mr London for taking public blame for what happened. “To his credit, he did go on TV and take full responsibility for it,” he said. Mr Andrew added: “It is very difficult to deal with one rogue guy”.