EY Is In Trouble With the SEC For Lobbying On Behalf of Audit Clients
This just in: The Securities and Exchange Commission today charged Ernst & Young LLP with violations of auditor independence rules that require firms to maintain their objectivity and impartiality with clients. Ernst & Young agreed to pay more than $4 million to settle the charges. The SEC’s order instituting a settled administrative proceeding finds that […]
And Here You Probably Thought Americans for Tax Reform Just Lobbied Against Taxes
The Hill reports that tax unfriend Grover Norquist and his merry band of scamps at Americans for Tax Reform spent over $300k lobbying in the first three months of year. That beats the same time period for last year by 82%. Pretty impressive work, but considering it's an election year, not surprising. What you might […]
The Big 4’s Lobbying Efforts In Europe Make the Banks Look Like a Bunch of Amateurs
Proposed audit reforms in Europe, which include mandatory firm rotation and a ban on advisory services provided to audit clients, have been met with, shall we say, resistance: The Big Four are campaigning hard to stop many of the core changes from being approved by the European Parliament and EU states. Smaller auditors are urging lawmakers […]
Are Ernst & Young’s Lobbying Activities a Violation of Auditor Independence Rules?
This morning we linked to a Reuters story that revealed Ernst & Young doing quite a fancy dance with auditor independence rules. You see, there is an advisory group within the firm known as Washington Council Ernst & Young who "helps clients manage opportunities and risks associated with the legislative and regulatory process." That's a quite […]