U.S. says Ernst & Young to pay $11.8 million to settle audit charges

U.S. says Ernst & Young to pay $11.8 million to settle audit charges
 

Ernst & Young will pay $11.8 million (9.64 million pounds) to settle charges over "failed audits" of oil services company Weatherford International Plc , the U.S. Securities and Exchange Commission said on Tuesday.
An Ernst & Young partner who coordinated the audits and a former tax partner who was part of the audit team were also charged in the SEC's order, the agency said in a statement. Under the settlement, both men agreed to "suspensions to settle charges that they disregarded significant red flags during the audits and reviews," the SEC said.
The charges... read more

 
18 October 2016 in Business, Views: 43
Source: Reuters
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