An Ohio accounting firm is under scrutiny over its audit work at some of the off-balance sheet vehicles used by the auto parts manufacturer First Brands to amass a mountain of hidden debt before it went bankrupt.
Bober Markey Fedorovich, a small, two-office firm, is named in a court filing as having produced audit reports for two special purpose vehicles used by First Brands before its collapse in September, which shook US credit markets.
Evolution Credit Partners, a First Brands creditor, last week filed a request for information from BMF, a 124-person firm based in Akron, Ohio, relating to its work at the entities, including its inspections of inventory at the centre of a fraud dispute.
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