06-17-2003, 12:29 AM
Wisemen said "Reasoning to commit a sin is worse than sin by itself" and that's what E&Y did as being reported... read the news
Quote
"E&Y Has New Definition For a 'Clean Audit'"
June 13, 2003 - The Wall Street Journal is reporting this week that Big Four firm Ernst & Young encouraged audit client HealthSouth Corp. to classify some rather unusual services under the umbrella of audit-related fees. The Securities and Exchange Commission may have a different view of the way in which these services should be described........
E&Y Spokesman Donald Howarth has stated, "E&Y believes that HealthSouth's fees were properly classified," but The Wall Street Journal quotes HealthSouth spokesman Andrew Brimmer as saying, "We do not consider the pristine audit work to be related to the financial audit.".......
Former SEC chief accountant Lynn Turner described the issue "E&Y arguing that checking the cleanliness of a facility is 'audit related' goes well beyond the pale of sanity and common sense."
UNQUOTE
Well guys... audit is about to be redefined by E&Y though it could be beyond common sense (may be non sense) as quoted above but we mut not argue and follow what they say and what they do... for, bosses are always right.... it should well be taken another feather in the cap of E&Y.
Quote
"E&Y Has New Definition For a 'Clean Audit'"
June 13, 2003 - The Wall Street Journal is reporting this week that Big Four firm Ernst & Young encouraged audit client HealthSouth Corp. to classify some rather unusual services under the umbrella of audit-related fees. The Securities and Exchange Commission may have a different view of the way in which these services should be described........
E&Y Spokesman Donald Howarth has stated, "E&Y believes that HealthSouth's fees were properly classified," but The Wall Street Journal quotes HealthSouth spokesman Andrew Brimmer as saying, "We do not consider the pristine audit work to be related to the financial audit.".......
Former SEC chief accountant Lynn Turner described the issue "E&Y arguing that checking the cleanliness of a facility is 'audit related' goes well beyond the pale of sanity and common sense."
UNQUOTE
Well guys... audit is about to be redefined by E&Y though it could be beyond common sense (may be non sense) as quoted above but we mut not argue and follow what they say and what they do... for, bosses are always right.... it should well be taken another feather in the cap of E&Y.
