As KPMG’s chief legal officer, Sven Erik Holmes says he works to prevent the mistakes that caused the auditing and accounting giant to bring him on board in the first place.
Holmes’ hiring in January 2005 was widely seen as an attempt by the firm to find a “Mr. Clean” — as some press accounts referred to him — to help lead it out of a U.S. Justice Department investigation for tax shelter fraud. The deferred prosecution agreement with the DOJ that Holmes signed on KPMG’s behalf later that year allowed the firm to avoid a criminal prosecution. (The firm also paid $456 million in civil and criminal penalties.)
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