[joelfried]

> "When the scale of these things is so large in a single firm, and only comes to light after 2(!) whistleblowers, it is hard to imagine that it is an isolated incident in the industry."

Why would it be an isolated incident when the penalty is so small?

KPMG's global revenue for 2023 was around $23 billion per DDG.

When your fine for doing business the "wrong" way is around 1/1000th of your revenue, it's hard to see that as a meaningful punishment.

[jonstewart]

There’s some truth to it but a consulting firm like KPMG is like a feudal empire, comprised of many little fiefdoms, all tasked with earning and growing a certain amount. A $25M fine means whichever department responsible has probably been nuked and won’t be doing much of this type of work again. However, you are right that it’s not significant enough to change how the emperor’s court conducts oversight.

[joelfried]

I do agree some small group of people within the KPMG empire is going to feel the sting of this. I worry the lesson for the rest is going to be "don't get caught", not "don't do that". I struggle to think of a way to get the right message across that doesn't involve real punishment at the top of the pyramid.