Quote of the Day: Ernst & Young Partners Losing Sleep? | 03.12.10

Posted on by Caleb Newquist

“A successful lawsuit against E&Y could result in a court finding that the failure to properly advise the audit committee prevented Lehman from taking genuine steps to substantially reduce its leverage, which may have saved the firm from bankruptcy. Which is to say, E&Y could find itself blamed for all the losses to Lehman shareholders. That would be a stretch – such a claim would be speculative – but it still should be scaring the heck out of the partners.”

~ John Carney

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You’d Be Wrong If You Thought the Ernst & Young Golden Globe Auditors Were Taking a Back Seat to Other Award Show Auditors

Because, really, is team of Ernst & Young and Ricky Gervais versus PwC, James Franco and Anne Hathaway even a debate?

If you feel strongly about it we’ll hear you out but it’ll take some convincing.

The winners of the 68th annual Golden Globe® Awards will remain a secret until they are revealed January 16 to millions of viewers around the world, thanks to the efforts of Ernst & Young LLP, a leader in assurance, tax, transaction, advisory services and strategic growth markets. The Hollywood Foreign Press Association has relied on Ernst & Young for the past 38 years to conduct the ballot tabulation process of the Golden Globes® with security, integrity and reliability.

And just in case you’re concerned about Ernst & Young’s “security, integrity and reliability” because of you know who, the protocols have been laid out in detail:

• Winners are known only to three senior Ernst & Young executives in advance of the telecast;

• Ernst & Young is also responsible for qualifying voting members of the Hollywood Foreign Press Association, confirming that their credentials are current and meet the standards set forth by the Hollywood Foreign Press Association;

• Ernst & Young controls the entire voting process beginning with the nomination ballots, and maintains control of the ballots until the telecast is over;

• Results are triple-checked to eliminate any margin of error; and

• Winner envelopes are assembled by Ernst & Young and are maintained exclusively under Ernst & Young’s control until they are handed directly to each celebrity presenter moments before they appear on-stage.