According to the New York Times, the Securities and Exchange Commission (SEC) said the cheating involved hundreds of EY’s workers from 2017 to 2021, resulted in the largest penalty ever imposed by the agency against an auditing firm. Questions: What amount was the fine imposed by U.S. securities regulators? What were the three (3) charges… Read more »
Posts Tagged: KPMG
KPMG’s Most Recent Fine
According to Accounting Today, KPMG faces a 15M pound fine (or $21M), for gross misconduct in the U.K. Questions: What were the name of the company and the private equity firm that relied on misstatements by KPMG? What was the name of the partner at the head of the consulting engagement? How many times did… Read more »
E&Y Sues Wirecard AG
According to Bloomberg News and Accounting Today, accounting firm Ernst & Young was sued over its work for Wirecard AG, just two days after Wirecard’s headquarters were raided as part of a market manipulation probe. Questions: What is Wirecard AG? What does E&Y’s suit allege? Discuss what the issues are related to Wirecard’s purported fraud…. Read more »