Many must be puzzling over how the KPMG CEO for Africa managed to pay his own expenses at the Gupta wedding. At the time it was widely reported that the whole place had been taken over for the wedding. Presumably this meant all costs had been paid for as part of that booking. So presumably guests who paid their own expenses merely paid for their own petrol to get there, although I expect that was paid for by KPMG, as is normal for executives. Accountants seem to have come a long way since I studied accounting and auditing half a century or so ago. Apparently all they do now is check the correctness of the entries but do not really apply their minds to the validity of the entries. Any story about how an expense is incurred in the generation of income can be explained if the money is just passing through. Business for the KPMGs of this world is all about the consulting arm and, of course, that is behind a Chinese wall and separate from their auditing function. A profession, indeed. He...
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