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California Accounting Body Penalizes E&Y

SEC charges that Ernst & Young violated auditor-independence rules by doing both consulting and audit work for PeopleSoft.

> > Ernst & Young is still paying a price for violating the SEC auditor independence rules. The time the regulators are a number of state accountancy boards.
The board wants to know why the firm put itself in a conflict of interest concerning its national and international dealings with PeopleSoft and ensure that the firm is not continuing similar practices now, said board chairman Bruce Malott.
Source: CFO


Published:2004-09-27
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