Ernst & Young To Review Olympus Audits Amid Scandal

Law360, New York (December 8, 2011, 2:22 PM EST) -- The Japanese arm of auditing firm Ernst & Young LLP reportedly announced Thursday that it will convene a panel of outside experts to review its audits of scandal-ridden Olympus Corp. during the 1990s.

Ernst & Young ShinNihon LLC said the outside panel of experts would investigate how the firm missed that Olympus hid at least $1.7 billion in investment losses through a series of sham transactions, a scandal which has roiled the camera and medical device maker since word of the accounting fraud came out earlier...
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