Silicon Valley Bank failed just 14 days after KPMG LLP gave the lender a clean bill of health. Signature Bank went down 11 days after the accounting firm signed off on its audit.
According to a report in the Wall Street Journal, what KPMG knew about the status of two banks and what it missed will likely be the subject of regulatory scrutiny. Silicon Valley Bank failed 14 days after KPMG LLP gave the lender a clean bill of health. Signature Bank went down 11 days after KPMG signed off on its audit
According to the news reports, KPMG signed the audit report for Silicon Valley Bank’s parent, SVB Financial Group on Feb. 24. On March 10; regulators seized the bank. Both bank audits were for 2022
Jeffrey Newman is a whistleblower lawyer who can be reached at 617-823-3217 or www.Jeffnewmanlaw.com