KPMG has fired a senior partner in the accounting firm's Los Angeles office for allegedly providing inside information to an unnamed third party, who then used the data to trade in stocks of several West Coast companies.
KPMG, one of the "Big Four" accounting and audit firms, said it has resigned as the auditor for two clients upon discovery of the individual's action.
KPMG did not name the client firms or the West Coast companies whose stocks were traded by the unnamed third party. The accounting firm did not identify the partner nor did it say how it learned of the individual's alleged activity.
Tim Connolly, KPMG’s spokesman, declined to comment beyond the statement when contacted by Reuters.
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