Accountancy firm KPMG "became the latest company to sever ties" with football's governing body when it informed FIFA that it was "dropping its account," according to Robinson & Letzing of the WALL STREET JOURNAL. The auditor’s Swiss affiliate "had signed off on scandal-hit FIFA’s financial statements for 16 consecutive years." The announcement came 10 days after the disclosure that "a small group of FIFA’s top officials allegedly paid each other tens of millions of dollars in bonuses and other incentives," three weeks after the resignation of Markus Kattner, who served as FIFA’s CFO. FIFA said, "FIFA welcomes this change as it gives the organization the opportunity to work with a new audit firm, which will be appointed soon. In light of the serious allegations involving financial transactions outlined by the Swiss and U.S. authorities, it is essential that for the financial function at FIFA to be externally reviewed and thoroughly reformed." KPMG confirmed its resignation, but declined to comment further, because "we have ongoing fiduciary duties to FIFA" (WSJ, 6/13). In London, Agnew & Ahmed reported FIFA President Gianni Infantino "has initiated an internal review" of FIFA's finance function, including its processes and procedures. It plans to "appoint a new auditor, as well as a new chief financial officer and a new chief compliance officer." The change of auditor comes after KPMG launched in September "an internal review" of its Swiss business's audits of FIFA (FINANCIAL TIMES, 6/13).
