There are many good reasons to fire Ernest & Young as your auditor no a lot good in it, for one, և you as a result, he can sue them for one, և you are more concerned with the conflict of interest that may arise from it they are, Now there is a new reason. You would prefer that massive $ 2 billion fraud you committed not disclosed,
“Although the primary responsibility for fraud prevention and detection rests with management and supervisory boards, audits should play a greater role in detecting material fraud in the future,” said Carmin Di Sibio, CEO and CEO of EY Global. A letter sent to customers was seen by The Wall Street Journal.
“Although we managed to detect the fraud, we regret that it was not detected sooner,” he said.
This contradicts what accountants believe, that is, they are a job, because they see that all the numbers given by their clients are combined in a table to confirm the same for those clients. Again, the other major accounting firms are not doing the same thing right now reputation issue is currently facing EY, although that is not a reason as much as EY, it is that its competitors do not intimidate customers into threatening to inspect things a little more seriously.
The EY letter outlines a number of steps the company has taken to tighten its scrutiny of enterprise books, including browsing social media և “ongoing checks on management reliability”. Such changes are “imperative for the entire auditing profession,” the EY said in a statement, adding that they “significantly raise the bar, exceed current professional standards.”
EY says its audit is thorough, noting that it found no money. But that followed calls from another audit firm, KPMG LLP, which was conducting an in-depth investigation into Wirecard accounts at the company’s request.