Sony Corp. started an investigation last year of its India entertainment operations for possible bidding fraud, kickbacks, and bribery, according to internal emails leaked as part of a cyber attack on the company.… Continue Reading
Ernst & Young just issued its 13th Global Fraud Survey. It shows regulators aggressively pursuing financial fraud and bribery cases, and expressing increasing concern over cyber risks.
EY highlights how multiple agencies in the U.S.… Continue Reading
Accounting giant Ernst & Young will pay $4 million to settle civil charges that it violated auditor independence rules after one of its units lobbied congressional staffers on behalf of audit clients, the Securities and Exchange Commission said Monday.… Continue Reading
The U.S. Securities and Exchange Commission said it is trying to reach a settlement with the Chinese units of the Big Four accounting firms of a long-running dispute over regulators’ access to audit documents.… Continue Reading
A Hong Kong court ordered Ernst & Young to hand over audit papers related to a former Chinese client to securities regulators investigating potential accounting irregularities.
Hong Kong’s Securities and Futures Commission (SFC) filed a lawsuit against EY in 2012 following the firm’s refusal to produce audit papers of mainland-based water provider Standard Water Ltd.… Continue Reading
Deutsche Bank agreed on Monday to turn over documents related to a regulatory probe into the operations of its Dubai-based wealth management division.
The Frankfurt-based lender will hand over the details sought by the Dubai Financial Services Authority (DFSA) within 28 days and pay the regulator’s costs, as noted in a DFSA statement on Monday.… Continue Reading
Chinese units of the “big four” accounting firms were suspended from auditing U.S.-listed companies for six months. The judge’s ruling Wednesday follows a lengthy dispute over the companies’ refusal to furnish their audit papers and documents to the SEC.… Continue Reading
The U.S. Securities and Exchange Commission’s (SEC) may finally be winning its long battle to convince China to hand over audit papers of companies under investigation in the U.S.
The China Securities Regulatory Commission has handed over audit documents produced by Chinese affiliates of Ernst & Young, Deloitte Touche Tohmatsu International and KPMG, and promised to provide work papers related to clients of Ernst & Young and PwC.… Continue Reading