All Ernst & Young articles
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ArticleSEC charges 3 EY employees with auditor independence violations
The Securities and Exchange Commission charged three Ernst & Young employees for violations of the agency’s auditor independence rules regarding services carried out at Cintas Corp. A former accountant at Cintas was also charged.
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Article
PCAOB penalizes EY partners for Synchronoss audit deficiencies
The PCAOB fined two EY partners for “failing to perform adequate procedures and obtain sufficient evidence” in connection with the Big Four firm’s audit of New Jersey software company Synchronoss Technologies.
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Article
EY fined $3M in U.K. for Stagecoach audit failings
The U.K. Financial Reporting Council ordered EY to pay a reduced fine of £2.2 million (U.S. $3 million) related to its audits of international transport company Stagecoach Group for the 2017 financial year.
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Article
EY fined $10M for independence violations in Sealed Air engagement
EY has agreed to pay $10 million as part of a settlement with the SEC related to charges of auditor independence misconduct perpetrated by several partners of the Big Four firm to secure Sealed Air as a client.
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EY member firm fined $1.5M for failure to uncover $3B homebuilding fraud
A member firm of EY Global has been fined $1.5 million by the SEC to settle audit violations and improper conduct charges connected to a $3.3 billion accounting fraud committed by one of its customers.
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EY chairman: Auditors should work harder to find fraud
The chairman and chief executive of Big Four auditing firm EY says auditors should do more to uncover fraud while conducting external audits, a topic the industry has historically been reluctant to tackle.
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Article
Wirecard scandal will have cascading impact on Germany’s audit, regulatory landscape
Wirecard already is shaping up to be to Germany what Enron was to the United States: An accounting oversight failure so epic in its scope and scale that its aftermath is likely to forever alter the country’s auditing and accounting profession as it exists today.
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FRC to probe EY, PwC audits of London Capital & Finance
The U.K. Financial Reporting Council has commenced three investigations into the audits of collapsed investment firm London Capital & Finance, including audits carried out by Big Four firms EY and PwC.
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Investigation into EY’s audit of Danske Bank dropped
Denmark’s state prosecutor has dropped its investigation into whether Big Four firm EY violated anti-money laundering laws in connection with its audit of Danske Bank.
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EY audit of NMC Health under investigation
The U.K. Financial Reporting Council has opened an investigation into EY’s audit of the 2018 financial statements of NMC Health, which is currently under investigation for accounting fraud.
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Analysis: EY now faces questions of trust
In the case of Amjad Rihan versus EY, a question of trust has opened a can of worms. Financial crime expert Martin Woods explores.
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Analysis: EY brand takes beating in case vs. whistleblower
What does the Amjad Rihan case do to the brand of EY and, more pointedly, those who spend time with EY as clients? Financial crime expert Martin Woods offers his take.
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U.K. court orders EY to pay $11M to whistleblower, a former partner
A former EY partner who blew the whistle on a massive money laundering scheme was awarded nearly $11 million by a U.K. judge, settling a lawsuit in which he claimed EY buried an audit that uncovered wrongdoing by a client.
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FRC reveals key trends in U.K. accountancy profession
A new report from the U.K.’s Financial Reporting Council says the Big Four increased their combined “total fee income” by 4.7 percent—even amid a year fraught with accounting scandal.
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EY analysis: Audit committees increasing their disclosures to shareholders
Audit committees continue to increase the amount of disclosures they are providing to shareholders across a wide variety of categories, according to a recent analysis conducted by EY.
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Investigation widens into how Sealed Air selected its audit firm
Packaging company Sealed Air, currently under investigation by the SEC, has received a grand jury subpoena from the U.S. Attorney’s Office for the Western District of North Carolina and faces a related investigation by the DOJ.
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Article
Auditing Anti-Corruption Efforts: Best Practices Take Shape
Image: More anti-corruption efforts by compliance departments means more auditing of those programs by internal audit, and a vanguard of businesses (many of them, admittedly, stung by misconduct violations in the past) are pioneering better auditing techniques on that point. Tom O’Reilly, director of internal audit at Analog Devices, says ...
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