GULFPORT, Miss.- Singing River Health System is suing its former accounting firm, KPMG LLP, for $88 million dollars in mistakes.
That is the exact amount the hospital’s pension fund is underfunded.
Singing River Health System said in a press release that the federal lawsuit accuses the national accounting firm of breach of contract, negligence and professional malpractice.
The Sun Herald reports, Singing River is accusing another firm found errors and an $88 million shortfall from bad debts reported as revenue. It alleges that bad audits masked pension plan underfunding.
The Sun Herald reported in November that the system stopped putting money into the pension plan in 2010.