Jennifer Kennedy (jenniferkennedy@barberinstitute.org) is Vice President, Governance, Risk Management & Compliance at Barber National Institute in Erie, Pennsylvania, USA.
General Electric (GE) and KPMG have had a business relationship for 109 years. In 2018, GE paid KPMG $142.9 million in audit and related fees and tax fees (more than any other year since 2000).[1] GE is currently being investigated by the Securities and Exchange Commission and the Department of Justice related to the company’s accounting. In articles covering the issue, we hear a lot from the chief financial officer and see statements from the CEO. What we don’t see is the chief compliance officer (CCO). Where is compliance in all of this? Why do organizations still prefer to keep their compliance team in the dark? Why is finance protected from an internal compliance function?
