A member firm of Ernst & Young Global has been fined $1.5 million by the Securities and Exchange Commission (SEC) to settle audit violations and improper conduct charges connected to a $3.3 billion accounting fraud committed by one of its customers.
Mancera S.C., EY’s Mexican member firm, as well as a former partner and a current partner of the firm, allegedly committed the violations when Mancera filed “deficient” audits of the Mexican homebuilding company Desarrolladora Homex S.A.B. de C.V. from 2010-12, the SEC said.
