Wall Street Regulator Approves Tougher Rules for Accounting ‘Negligence’ August 21, 2024 By Douglas Gillison Wall Street’s top regulator on Tuesday voted 3-2 to bless new rules making it easier for an audit watchdog to...
EY Fined $4.8M by UK Accounting Watchdog Over Audit of Transport Firm Stagecoach August 25, 2021 Britain’s accounting watchdog said on Wednesday it has fined Ernst & Young LLP 3.5 million pounds ($4.80 million) over the...
British Accountants Under Pressure to Do More to Detect Fraud at Companies December 18, 2019 By Sinead Cruise and Huw Jones British accountants could be required to look for fraud at companies they audit under proposals made in a government-backed review...
Ukraine’s Largest Bank, PrivatBank, Files $3B Lawsuit Against PwC Subsidiaries April 2, 2018 Ukraine’s largest bank, PrivatBank, said on Monday [April 1] it had filed a $3 billion lawsuit against the Ukrainian and...
Jury Finds Ernst & Young Liable for Faulty Madoff Audits November 16, 2015 By Elizabeth Amon and Sophia Pearson Ernst & Young LLP was found liable by a jury for its failure to vet financial audits backed by con...
Forrest T. Jones Launches Accountants Professional Liability Program November 9, 2015 Forrest T. Jones & Company (FTJ) has completed an agreement with Liberty International Underwriters (LIU) to serve as the program...
CAMICO Broadens Protection for Continuously Renewing CPA Policyholders November 4, 2015 CAMICO, a nationwide CPA-directed program of insurance and risk management for the accounting profession, has broadened protection for potential professional...
Audit Firms Battle New Oversight Rule They Say Will Increase Litigation December 8, 2014 By Dave Michaels Audit regulators are watering down a proposed rule aimed at increasing auditors’ accountability for their work after the industry said...
4 Trends to Watch in Professional Liability for Accountants November 3, 2014 There’s no shortage of accountants in the United States today, and the growth of this industry is not expected to...
Judge Allows $1B Malpractice Claim Against PwC Over MF Global Collapse July 11, 2014 By Jonathan Stempel A federal judge on Wednesday rejected PricewaterhouseCoopers’ request to dismiss a $1 billion lawsuit accusing the auditor of providing bad...