Ernst & Young has been fined half a million pounds and ordered to pay £2.4m in costs by the Accountant's Joint Disciplinary Scheme (JDS) and Appeal Tribunal following an investigation into
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Deceptive accounting practices and lax auditing lay at the heart of the 2008 collapse of US investment bank Lehman Brothers that helped to trigger the global economic crisis,
If the Accountant’s Joint Disciplinary Scheme (JDS) tribunal rules against Ernst & Young for the firm’s involvement in the Equitable Life affair, the penalties could include an unlimited fine.
