The last time an accounting firm was implicated with a major screw up it went belly up, remember Andersen which was swallowed up by E&Y. Now it seems that E&Y have their own dirty customers to deal with.
So who exactly can we trust these days?
By Francesco Guerrera and Henny Sender in New York and Patrick Jenkins in London
Published: March 12 2010 00:41 | Last updated: March 13 2010 00:21
The fallout from the report into the collapse of Lehman Brothers shook Wall Street and London on Friday as US officials grilled banks about off balance-sheet trades and questions were raised over the City’s role in the company’s attempts to cover up its problems.
The 2,200-page report by Anton Valukas, appointed by a US court to probe the reasons for Lehman’s failure in September 2008, paints a damning picture of the bank’s top management, including former chief executive Dick Fuld, three of its chief financial officers and auditors Ernst & Young.
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