KPMG knew the details about the upcoming inspections

Staff members of the accounting oversight body took the jobs at KPMG and brought the inspection information details with them

An ex employee of the Public Company Accounting Oversight Board and a resigned specialist were brought to trial on Monday, March 11.

The offenders were taking part in a fraudulent scheme which was plotted to assist KPMG, one of the Big Four audit firms, with passing the upcoming inspections. The results of these inspections go to the U.S. Securities and Exchange Commission.

Jeffrey Wada, who worked for the accounting oversight body, allegedly breached the confidential details concerning PCAOB inspections to the staff at KPMG during 2015–2017 and the case was brought against him in January 2018.

The former staff members of PCAOB, Cynthia Holder and Brian Sweet, were found guilty for leaking sensitive information to KPMG when they were hired by the audit firm.

Prosecutors unveiled charges against the violators a year ago for the confidential data that was leaked between 2015 and 2017, and the suspects have been found guilty only on March 11, this year.