Ernst & Young is one of two audit giants facing fresh scrutiny from the accountancy watchdog over the segregation of client assets.
The Accountancy & Actuarial Discipline Board (AADB) yesterday said it had begun a second probe into Ernst & Young's role as auditor to Lehman Brothers International (Europe) - the bank whose collapse in September 2008 triggered a global financial meltdown, writes the Telegraph. Meanwhile, PricewaterhouseCoopers is also being assessed over its audit role at JP Morgan Securities, the US bank the FSA fined more than £33m in June for failing to ring-fence client cash balances from those held by its parent, JP Morgan Chase. Both AADB investigations relate to the FSA's clampdown on banks an...
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