In conjunction with the settlement agreement between the U.S. Department of Justice and KPMG, the Public Company Accounting Oversight Board has stated that it is in the midst of the second year of annual, intensive inspections of KPMG's auditing work. As Board members have stated in the past, and based on these inspections, the Board stated it remains confident in KPMG's ability to perform high quality audits of public companies. The PCAOB previously performed a limited inspection of KPMG's auditing work.
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