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pARTNERS,mANAGERS,eMPLOYEES-sCANDALS-ACCOUNTING FIRMS:
Partners,Managers,Employees-Scandals-Accounting Firms
ARTHUR ANDERSEN LLP.- USA.
David B Duncan,Partner, was dismissed for ordering the destruction of thousands of documents and E-Mail messages of ENRON CORPORATION.
ERNST & YOUNG:
Whistle Blower,ex-partner Amjad Rihan is suing former employer ERNST & YOUNG,who exposed and accused E &Y
of "Unlawful","Unprofessional" and "Unethical" of its relationship with a Dubai Firm that was allegedly involved in money laundering and buying Gold from conflict Zones.
https://www.theguardian.com/business/2014/feb/27/auditors-role-conflict-gold-trade
http://www.gulf-times.com/story/575762/Gold-firm-whistle-blower-who-fled-Dubai-sues-Ernst
KPMG:
KPMG FIRED and an employee and five partners for failing to act on dangers posed by a tipster and the involved partners and failed to report the situation in a timely manner.Also there was conflict of interest.
KPMG-South Africa-Gupta Scandal.
The auditing firm executives failed to recognise the Red-flags in its auditing of the companies owned by the Gupta Family.
PRICE WATERHOUSE (PWC)-india
Price waterhouse was found guilty in the multi crore Satyam Computers ,software company,scandal and has been barred by SEBI-Securities and Exchange Board Of India.The regulator has barred PWC net work entities from issuing audit certificate to any listed company for two years.Of Course PWC is trying to get a stay against the order.SEBI has said that PWC had ignored the Red flags and failed to live up to the expectations of the shareholders.
DELOITTE & TOUCHE -Canada
The Court upheld a landmark decision of 2014 against Deloitte & Touche that ordered the accounting firm to pay $118 Million for damages for its negligence in the audit work in the case of Livent Incorporation.