Ritchie (for of course it is he) fumes:

I am not sure what planet KPMG are on. The FT report this morning that The total value of large frauds reported by UK corporates fell to £824m in 2012, its lowest level since 2004, but that may represent a temporary lull because groups continue to be hit hard by malfeasance committed by insiders, an annual survey by KMPG has found.

Hang on a minute. Have they heard of PPI, LIBOR rigging, HSBC’s money laundering, and more. Or has all that been sanctified out?

This appears to be a wilful exercise in turning a blind eye to the fraud the Big 4 audited to me, but I’m sure they’d disagree.

Of course they'd disagree. Because if Ritchie had bothered to check the original KPMG press release, he'd have discovered their methodology:

This year’s KPMG Fraud Barometer measures fraud cases in the UK from January 2012 to December 2012 (inclusively), and compares to the same 12 month period in 2011.

KPMG’s Fraud Barometer has been running for 24 years, and considers major fraud cases being heard in the UK’s Crown courts where the charges are in excess of £100,000

None of the issues he raised were heard in the UK's Crown Courts in 2012. It's not that KPMG is wilfully turning a blind eye; it's that their barometer deliberately measures something different, in order to provide an objective measure of whether fraud is increasing or decreasing.

Tosser.

People who read this post also read:

• The lazy anti-auditor rhetoric must stop
• Et tu, Ritche?
• Ritchie and Frankie get their comeuppances
• SuperRitchienomics – how bungs contribute to the tax gap, without insulting HMRC
• Richard Murphy is 624 times stupider than navel fluff

Filed under: Other blogs with tags fraud, idiots, kpmg, richard murphy