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Ernst & Young
Latest Headlines
Latest Headlines
Ernst & Young charged, other suits coming?
As expected, New York State attorney general Andrew Cuomo filed civil fraud charges against big audit firm Ernst & Young. The suit seeks $150 million, which prosecutors say represents the value of ill-gotten fees generated by its client Lehman Brothers.
The main issue is Ernst & Young'
Andrew Cuomo to charge Ernst & Young in Lehman case
For two years, people have been wondering if fraud charges would be filed against anyone connected to the demise of Lehman Brothers ( Lehman Brothers news ). A lot of people thought the most likely targets were top executives. But despite great expectations, criminal charges seem unlikely at thi
For Ernst & Young, fallout continues over Lehman Brothers issues
The Public Company Accounting Oversight Board ( PCAOB news) really had little choice but to open an investigation of Ernst & Young ( Ernst & Young news) and its role in the failure of Lehman Brothers ( Lehman Brothers news). It joins the Securities and Exchange Commission
Ernst & Young defends Lehman Brothers audit
The fallout from Anton Valukas's post-mortem on Lehman Brothers continues ( Lehman Brothers news). Bloomberg weighs in with an article that suggests audit firms, despite the landmark Sarbanes-Oxley legislation ( Sarbanes-Oxley news), may "still put client interests ahead of investors."
Settlement ends nightmare Ernst & Young audit
We've grown accustomed to the angst associated with regulators leaving their jobs to seek employment with the very industry they once regulated. It's often an unseemly situation. But what about when partners at top audit firms who leave to work for the company they once audited? All this is releva
Two Big Four firms hired as part of bailout effort
We've noted in FierceFinance that the broad TARP has attracted more than a few asset management firms vying to help the Treasury Department buy and sell troubled assets. Thus far, the Treasury seems bent on investing in such securities soon, even though the bank investment effort has taken
Farewell GAAP, hello IFRS
We're a lot closer to an IFRS road map.
Until now, people were vexed by the lack of actual implementation dates for International Financial Reporting Standards, which has loomed as a reality (albeit an uncertain one) for years now. But the SEC proposed a timetable last week--and it looks
XBRL standards body stokes worry
Most people think XBRL is a pretty good idea. But not everyone thinks the tag standards should be set by XBRL US, a non-profit group comprising top accounting firms KPMG, PricewaterhouseCoopers, Ernst & Young, Deloitte & Touche and Grant Thornton. One fear, as noted by Financial Week ,
Are you ready for IFRS?
There is no accounting initiative more important to a company right now than the move to International Financial Reporting Standards (IFRS). It may seem like a long way away, but please don't fall into the trap of thinking you've got plenty of time. By doing so, you are only sowing the seeds o
