Hmmm...mister Pitt knows that his credentials as an industry watchdog have been questioned, so what does he do to dispel the suspicions?
Apparently O'Kelly's not too bright either,... memo?
The beat goes on<gg>
May 4, 2002
S.E.C. Chief Denies Report From KPMG
By STEPHEN LABATON
WASHINGTON, May 3 — Harvey L. Pitt, the chairman of the Securities and Exchange Commission, denied today that he had discussed a fraud investigation with the head of KPMG, which had once been a client, despite a memorandum to the contrary from the firm's new chief executive.
In a memo sent this week to employees of KPMG titled " Xerox — Anticipated Media Coverage," the firm's new chairman and chief executive, Eugene D. O'Kelly, said that in his "first official act" he met privately with Mr. Pitt last week and urged him to drop the agency's investigation into the firm for its auditing of Xerox.
The memo, sent out Wednesday and disclosed today by Bloomberg News Service, did not describe the response from Mr. Pitt, who has faced repeated questions from critics for continuing to meet privately with former Wall Street clients that he now regulates.
nytimes.com |
