Auditor KPMG is in the news for its audits of failed Silicon Valley Bank (SVB) and Signature Bank. How could the auditors report that these banks were going concerns two weeks before they failed?
Big Four firm KPMG was the auditor for SVB and Signature Bank. It recently gave these companies clean bills of health in their 10K filings. Two weeks later, SVB became the second largest bank in US history to fail and Signature Bank the 3rd largest bank in history to fail.
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>Auditor KPMG is in the news for its audits of failed Silicon Valley Bank (SVB) and Signature Bank. How could the auditors report that these banks were going concerns two weeks before they failed?
>Big Four firm KPMG was the auditor for SVB and Signature Bank. It recently gave these companies clean bills of health in their 10K filings. Two weeks later, SVB became the second largest bank in US history to fail and Signature Bank the 3rd largest bank in history to fail.
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[Source Article](https://www.thegatewaypundit.com/2023/03/big-mistake-big-4-firm-kpmg-gave-svb-and-signature-bank-clean-bills-of-health-days-before-banks-collapsed/)
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