KPMG chairman calls for global standards, cites Olympus fraud

HONG KONG: KPMG chairman has called for a global set of standards for the auditing industry and said the Olympus Corp scandal in Japan reveals evidence of “significant fraud”.

Michael Andrew also outlined steps needed to improve the auditing industry in a speech entitled, “Fraud, Financial Crises and the Future of the Big Four.” He spoke to the Foreign Correspondents Club in Hong Kong.