Profile of Courage: Marilyn Stitt, KPMG and the Audit of Hollinger Inc
Journal of Forensic Accounting, Vol. IX (1) June: 199-204, 2008
7 Pages Posted: 10 Mar 2008 Last revised: 11 Jun 2013
Date Written: February 29, 2008
Using Hollinger Inc., KPMG and Ms. Marilyn Stitt as our focus, we engage the accounting profession in a conversation about how to support an audit partner who exercises good professional judgment and acts with integrity. We interviewed Chartered Accountants who were current and/or recently retired partners of Big 4 firms (other than KPMG), partners of small accounting firms, corporate directors, and investment advisors or other users of financial statements. We explored three broad questions with our participants. The first question focused on assessing the audit of Hollinger Inc. The second question asked participants to consider how auditors who exercise good professional judgment can be supported by the profession. The third question asked participants to consider how auditors who exercise good professional judgment could be recognized, celebrated and publicized by the profession. We find that participants have mixed feelings towards the audit of Hollinger and feel that support for partners should come from within the firm. We propose the establishment of a Canadian Accounting Hall of Fame to recognize accountants who display technical excellence and act with courage, integrity and good judgment.
Keywords: Auditing, litigation, professional integrity
JEL Classification: M41, M47, M49
Suggested Citation: Suggested Citation