spectacular audit failures

Accountants Behaving Badly: Ex-Deloitte India CEO Gets 7-Year Audit Ban, KPMGer Fired for Facebook Rant, Ponzi Schemer Gets 10 Years

Plus, the engagement quality review partner for Deloitte India also got banned by an audit regulator in connection with IL&FS audit failures. NFRA bars former Deloitte head from audit for 7 years over lapses at IL&FS [Livemint] Former Deloitte Haskins & Sells CEO Udayan Sen was banned from auditing for seven years and fined Rs […]

Grant Thornton May Have Hosed Fire Engine Company Audit

It appears the Financial Reporting Council — the UK's answer to audit cops — is looking into a "minor" matter involving the company that owns London's fire trucks and former auditor Grant Thornton. The investigation is specifically aimed at financial statements ended March 31 2008 – March 31 2010 and "the preparation of financial information […]