ISS recommends against GE keeping auditor KPMG
Auditor KPMG faces accounting investigation
An advisory firm recommended that shareholders of General Electric Co (GE) vote against keeping accounting firm KPMG as the company’s auditor because of “concerns about GE’s previously undisclosed liabilities and accounting practices.”
ISS (Institutional Shareholder Services) said that GE shareholders must beware that a “long-tenured auditor can become too close to a client,” while a new auditor can “uncover problems previously unidentified.”
