Liberté, Egalité, Fraternité: Big Lehman Brothers Troubles For Ernst & Young
By Francine • Mar 15th, 2010Ernst & Young, the audit firm, had a long and lucrative relationship with Lehman Brothers. So it comes as no surprise to me that EY had a hard time acting independently of their “sticky” client. EY may have ignored a lot of venial sins over almost ten years until “the drug we’re on,” as Lehman’s McDade called the now notorious Repo 105 transactions, added up to the mortal sin of accounting manipulation.



Francine McKenna (@retheauditors) has more than twenty years of experience in consulting and professional services including tenure at two Big 4 firms, both in the US and abroad. For more info, check the "About" page.