EY to pay $100 mln to settle U.S. charges of staff cheating on accountant exams

The London-based auditor admitted to the charges and agreed to pay what the SEC said is its largest fine against an auditor.

The Wall Street watchdog found that 49 EY professionals "obtained or circulated" answer keys to CPA license exams, while hundreds of others cheated to complete the continuing professional education components relating to CPA ethics. "And it's equally shocking that Ernst & Young hindered our investigation of this misconduct," added Grewal.

It added that EY admitted it did not correct its submission even after an internal EY investigation confirmed there had been cheating, and even after its senior lawyers discussed the matter with the firm’s senior management.

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Top accounting firm fined $100 million after employees cheated on CPA examsErnst & Young has been slapped with a record $100 million fine from the US government after regulators discovered that the company knew some of its auditors were cheating on exams for several years and did nothing to stop it.
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EY to pay record $100M fine over ethics exam cheatingInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. This is fraud.. remember when a Hollywood mother went to jail for doing the same thing by helping her daughter attend a prestigious university… brah tomicapristo Classic tone at the top. I knew someone who was there when this started who mentioned that the firm encouraged this behavior. Once the hammer came down they tried to single out and blame the individual staff. Glad they got served justice and hope those at the top pay
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NPR Cookie Consent and ChoicesIf the exam was required for employment or licensure are these people stil in a position of trust? A fine doesn't seem like the complete and appropriate response. Some of the cheaters have prob been promoted and make policy decisions. The real problem is that this is normallized Accountants cheating? Would never have guessed.
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