Ernst & Young Pays $10 Million To Settle Lehman Brothers Audit Failure Lawsuit
Date Written: 16/04/2015
Year Published: 2015
Resource Type: Article
Cx Number: CX17515
Ernst & Young, one of the Big Four auditing firms, has agreed to pay a $10 million to New York state to settle a lawsuit for overlooking accounting gimmicks by Lehman Brothers, the defunct Wall Street bank. The scheme allowed Lehman to hide billions of dollars in bad deals.