Ernst & Young Pays $10 Million To Settle Lehman Brothers Audit Failure Lawsuit

http://www.corpwatch.org/article.php?id=16019
Date Written:  2015-04-16
Publisher:  www.corpwatch.org
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.

Subject Headings

• Auditing
• Auditing Fraud
• Corporate Crime
• Financial Disclosure
• Financial Industry
• Financial Risk
• Financial Statements