SEC Warns Auditors To Keep Things Strictly Professional
By Carmen Germaine (September 19, 2016, 10:51 PM EDT) -- In reaching more than $9 million in settlements with Ernst & Young on Monday, the U.S. Securities and Exchange Commission is sending a stern reminder that cozy relationships between audit partners and clients are off the table, while also demonstrating that its focus on accounting isn't limited to the content of financial reports, experts said.
The SEC said the case is the first auditor independence action the agency has brought over close personal relationships between auditors and client personnel. (AP) Ernst & Young LLP agreed to pay a total of $9.3 million in two separate enforcement actions, without admitting or denying...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!