July 8, 2022
BLB&G Partner Jesse Jensen was quoted in a Law360 article, "After EY Cheating Scandal, Will The 'Big Four' Finally Get It?," which covers the recent $100 million fine that the U.S. Securities and Exchange Commission (SEC) imposed on Ernst & Young over an internal cheating scandal, where audit professionals "sent and/or received" answer keys to CPA ethics exams from 2017 to 2021 and then proceeded to withhold evidence of cheating.
In the article, Jesse comments on why it is crucial for the SEC to hold these firms accountable.
When you have these watchdogs of the capital markets willing to cheat, it raises very alarming implications about what other corners they are willing to cut...it almost defies credulity."
- Jesse Jensen
Jesse recently co-authored a related article, "SEC Investigation Of Accounting Firms Is A Good First Step," which covers the importance of the SEC's long-overdue initiative to probe how the Big Four accounting firms manage conflicts of interest and how those conflicts impact their ability to conduct independent audits of public company financials. You can read this article here.
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