Ernst & Young, the accountancy firm, is under criminal investigation in the US on charges it recommended accounting schemes to clients that helped them avoid paying tax illegally.
The news comes as a surprise because the company already reached a deal with the US Internal Revenue Service last year over similar allegations, resulting in the company paying a $15m “settlement”, reports The Times. Other accountants have been under investigation over similar allegations, the Times continues, especially over advice linked to tax shelters set up during the dot.com boom of the late 1990s – KPMG was told it was under criminal investigation in February this year. SHELL HAS BEEN cited as just one in a long line of companies that have failed to implement proper internal au...
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