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Arthur Andersen
Insider-trading scandal poses risks to KPMG's reputation
Insider-trading scandal poses risks to KPMG's reputation

NEW YORK -- A former senior KPMG auditor's leaks could threaten the reputation of one of the country's biggest accounting firms, industry experts said. Auditors like Scott London, a former senior partner in KPMG's office in Los Angeles, are privy to client companies' financial secrets -- valuable data which he told the Los Angeles Times he shared with an unnamed friend who then traded stocks using the illicit tips. The scandal is evidence that apparently none of corporate America's most trusted names is immune to the temptations of insider trading. “It’s extremely rare, it’s extremely uncommon,” said Lynn Turner, a former chief...

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