Description: KPMG resigned Tuesday as the auditor of Herbalife and Skechers after the partner in charge of the accounting firm’s Los Angeles audit practice was alleged to have engaged in insider trading.

Source: Marketwatch.com

Date: Apr 09, 2013

Link: http://www.marketwatch.com/story/kpmg-steps-down-as-herbalife-auditor-2013-04-09?siteid=nwtwk

Questions for Discussions:

• Summarize the highlights in this report.
• What can management and regulators do to improve controls?