Auditors face firing squad again over Lehman scandal
Posted by admin in Management & Execution on Tue, 16/03/2010 - 15:55
The controversy surrounding the demise of Lehman Brothers once again spells trouble for the audit profession. How was such a large investment bank allowed to collapse? Have lessons not been learned from the other well publicised corporate disasters such as Enron?
- Large scale corporate disasters put auditors in the spotlight again
- Why did Ernst & Young take no steps to question Lehman Brothers' unusual accounting practices?
- Ernst & Young says the financial statements were presented in accordance with GAAP
- How far should the blame rest with the auditors in this case?
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