Ernst & Young is one of the world’s largest accounting firmswith some 700 offices in 140 countries, offering auditing and accounting services. The firm also provides legal services and services relating to emerging growth companies, human resources issues, and corporate transactions (mergers and acquisitions, IPOs, and the like). Ernst & Young has one of the world’s largest tax practices, serving multinational clients that have to comply with multiple local tax laws.
Ernst & Young
5 Times Square
New York, NY 10036
Phone:212-773-3000
Fax:212-773-6350
Accounting firm Ernst & Young was fined more than $134,000 for allegedly understating its net worth during a trial that resulted in an award of more than $100 million against the company.
Butler County Judge S. Michael Yeager on Friday found the New York-based company in contempt for allegedly presenting evidence during last year’s trial that its net worth was $374 million
Ernst & Young has been banned from taking on new clients in the US after regulators questioned its relationship with software company PeopleSoft.
Judge Brenda Murray said that E&Y should not accept new auditing work for six months from Securities and Exchange Commission-listed companies.
E&Y is not expected to appeal the ruling, which includes a $1