Just what did KPMG do and at how much? Here is a copy of the initial KPMG Master Services Agreement and the continued task orders. Please read carefully the number of people billed to provide services at FAMU. Interesting enough, KPMG billed FAMU for 4,606 hours.
Little known fact: Grace Ali worked for KPMG and so did John Dasburg (BOG) as a partnter.
And did you know that Lowe had a relationship with them (KPMG) while at Ryder Systems?
ReplyDeleteThis is the worst defined and formatted, outlined task force agreement that I have ever seen and I worked for several of the large consulting companies.
ReplyDeleteFrom the Dollar General website:
ReplyDelete(LINK)
J. Neal Purcell
J. Neal Purcell has served as a director of Dollar General since May 2004.
Purcell served as the Southeast area managing partner of KPMG from July 1993 to October 1998 and as the vice chairman in charge of National Audit Practice Operations from October 1998 until his retirement on January 31, 2002. Purcell is a director (and chairman of the audit committee) of Southern Company and Synovus Financial Corporation, as well as Kaiser Permanente Health Care and Hospitals, a non-public entity. Purcell, who the Dollar General Board of Directors has determined to be independent as defined in NYSE listing requirements and the Dollar General Corporate Governance Principles, has been designated as one of Dollar General’s audit committee financial experts.
KPMG is one of the top 5-6 accounting firms. If you survey 100 accountants, you will probably find at least 10 who have worked there at some point in their careers. They are independent accountants and they take audit standards very seriously. I would pay attention to what they have to say over some politicians who are not famliar with university finance and accounting.
ReplyDeleteMy Mama always said that actions speak louder than words. What I heard KPMG say is, "As long as Castell Bryant and Challis Lowe run FAMU, it's a gravy train. Let's rip them off for all we can."
ReplyDeleteIt's ironic that U of FL; USF, UCF, FAU all do not use the services of KPMG. As a matter of fact, when Allen questioned Merkel about this, she was adamant in her response that a firm hired at this cost was not worth it. For task requiring some expertise, they hired consultants and were very specific about the deliverables. Unlike the contract that we have currently with KPMG.
ReplyDeleteThese idiots just don't know what they are doing.
No, "these idiots" know EXACTLY what they're doing: Paying back favors to old friends at taxpayers' and FAMU's expense!
ReplyDelete