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Q: BearingPoint ( Answered,   3 Comments )
Question  
Subject: BearingPoint
Category: Business and Money > Accounting
Asked by: haleam-ga
List Price: $2.00
Posted: 11 Oct 2002 12:04 PDT
Expires: 10 Nov 2002 11:04 PST
Question ID: 75376
Was their an article about BearingPoint having tax issues in Indonesia?
Answer  
Subject: Re: BearingPoint
Answered By: markj-ga on 11 Oct 2002 18:08 PDT
 
Haleam --

Thanks for your feedback and your kind words.  The following is a
reposting of the substnace of my previous comment as an answer, per
your instruction.
markj-ga

As you may know, BearingPoint is the new name of KPMG Consulting.  I
have a found an SEC press release of September 12, 2002 regarding the
settlement of a 2001 lawsuit brought by the SEC and the Department of
Justice against an affiliate of KPMG International called KPMG
Siddharta, Siddharta & Harsono.  The allegations involved bribery of
an Indonesian government tax official.
  
Here is the link to more details of the settlement: 
http://www.sec.gov/litigation/litreleases/lr17127.htm 
 
Again, thanks for your feedback.

markj-ga

Clarification of Answer by markj-ga on 11 Oct 2002 22:27 PDT
Search terms used:

kpmg indonesia tax
://www.google.com/search?sourceid=navclient&q=kpmg+indonesia+tax
Comments  
Subject: Re: BearingPoint
From: markj-ga on 11 Oct 2002 12:52 PDT
 
As you may know, BearingPoint is the new name of KPMG Consulting.  I
have a found an SEC press release of September 12, 2002 regarding the
settlement of a 2001 lawsuit brought by the SEC and the Department of
Justice against an affiliate of KPMG International called KPMG
Siddharta, Siddharta & Harsono.  The allegations involved bribery of
an Indonesian government tax official.

Since it is not clear that this action involved KPMG's consulting
operation (which just recently was renamed BearingPoint) or just its
accounting operation, I have not looked further for news articles and
am not posting this as an answer.

Here is the link to more details of the settlement:
http://www.sec.gov/litigation/litreleases/lr17127.htm

If this is what you are looking for, please post a comment and I will
repost this as an answer or, if you prefer, look further for related
news converage.

markj-ga
Subject: Re: BearingPoint
From: aceresearcher-ga on 11 Oct 2002 13:01 PDT
 
I could not find any indication of a scandal involving KPMG Consulting
in Indonesia.

http://www.bearingpoint.com/news/press_releases/2002/pr_10-02-2002_news.html
"KPMG Consulting Is Now BearingPoint"

http://www.line56.com/articles/default.asp?ArticleID=4060
"KPMG Consulting split from the auditing brand in February of last
year ahead of accounting scandals of the type that were plaguing
Arthur Andersen..."

From the above pages, I gathered that KPMG might have managed to
escape the conflict-of-interest scandals that have plagued Arthur
Andersen. I'm guessing that KPMG Consulting just changed its name to
BearingPoint now to further distance itself from possible criticism of
any apparent conflict-of-interest between it and its former parent
KPMG.

Sorry I could not be of more assistance.
Subject: Re: BearingPoint
From: haleam-ga on 11 Oct 2002 16:21 PDT
 
Thank you both for your help!  markj I've passed along your
information!  Great find!!!

Yes, you have answered my question.  Thank you again!

haleam-ga

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