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March 26, 2023

When accounting goes unaccounted for

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EY

Ernst & Young’s PCAOB Inspection Results Look Even Worse in Chart Form

by Caleb Newquist

Hey! Auditing is, in its own way, like rocket science!Last week, we discussed just how bad EY's auditing had gotten from a PCAOB inspection report perspective. And with a failure rate of 48% we can all say, "That sucks, EY," with the utmost confidence. 

Yet, nothing in the PCAOB inspection report or anything we wrote last Tuesday sums things quite like this chart from the Wall Street Journal. I don't know why it caught my eye today and not on Tuesday, but maybe Rick Telberg's tweet had something to do with it:

Sweet Jesus, what does that remind you of? A bird? A plane? SUPERMAN?! 

To reiterate: get better, EY. This is embarrassing.

[WSJ via Rick Telberg]

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