Why Ambac was one of the KPMG clients that got a second look after inspection tip off
January 29, 2018 at 11:57 AM EST
The criminal indictment of five former KPMG executives and one former regulator included several references to clients whose audits were potentially corrupted in the alleged scheme to take advantage of early notice of which would be reviewed by the regulator. MarketWatch’s analysis of the allegations provided in the Justice Department indictment and Securities and Exchange Commission filing data led to the conclusion that one of the clients, “Issuer-2,” is almost certainly Ambac Financial.