Kamunun Finans Haberleri Merkezi
Kamunun Finans Haberleri Merkezi
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The firm and the two partners consented to the SEC’s order without admitting or denying the findings that they engaged in improper professional conduct. EY agreed to pay disgorgement of $9 million, prejudgment interest of more than $1.8 million, and a penalty of $1 million. The two partners agreed to be suspended from appearing or practicing before the SEC, including participating in the financial reporting or audits of public companies, though Fronckiewicz may apply for reinstatement after two years, and Adams after one year.
“Audit quality is central to EY and all of our stakeholders,” the firm said in a statement. “Since the time of the Weatherford audits, and as referenced in the SEC order, EY has taken significant steps in improving audit quality. Our commitment to audit quality is ongoing, and we are continually reviewing and enhancing our audit procedures, policies and training of our people. We are pleased to put this matter behind us.”
source:http://www.accountingtoday.com/news/audit-accounting/ernst-young-to-pay-11-million-for-failing-to-detect-weatherford-fraud-79579-1.html?utm_content=socialflow&utm_campaign=accountingtoday-fb&utm_source=facebook&utm_medium=social
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