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January 30, 2023

Swiss Regulator Investigating Whether KPMG’s Audit of FIFA Is Worth Investigating

Well, this is something? Switzerland's Federal Audit Oversight Authority ("FAOA") will be kicking the tires on KPMG's audit of corruption factory/sports organization FIFA.

"The FAOA is monitoring developments related to FIFA, and has selected for evaluation aspects of KPMG's work in connection with the auditing of the financial statements of FIFA," the FAOA, which helps monitor the performance and quality of audit services, said in a statement.

The good news for KPMG is that this isn't a problem…until it is:

"This evaluation is not a formal investigation which would only be initiated if breaches of duty would be identified. Please note that there is a presumption of innocence."

Noted.

[Reuters]

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