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Capitol Report: Former regulator met privately with KPMG while firm was under scrutiny

A former audit-industry regulator who advises one of the largest firms on audit quality was also one of two board members willing to meet privately in 2015 and 2016 with KPMG LLP, which was under significant scrutiny by the regulator because of chronically poor audit inspection results.

Former Public Company Accounting Oversight Board member Jay Hanson testified in March during the trial of David Middendorf, the former KPMG National Managing Partner of Audit Quality, that Jeanette Franzel, another board member, was his companion for pre-board meetings with KPMG beginning in 2015, while the firm was being heavily monitored for its high number of inspection discrepancies.

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