A British investigation has been launched into whether Ernst & Young properly audited Lehman Brothers’ accounts in the months leading up to the US investment bank’s collapse. The Accountancy and Actuarial Disciplinary Board, which regulates the profession in Britain, has launched a probe into E&Y’s accounting treatment of controversial transactions known as “Repo 105s” and “Repo 108s”, which Lehman regularly used in its quarter-end balance sheets. Source: Financial Times
About The Author
Joachim C Bartels is a co-founder, director, head of information resources and Editor-in-Chief of BIIA. In his capacity as Editor-in-Chief he is responsible for the selection of relevant information content concerning industry insights, trends, technological developments, standards and policies impacting BIIA members in particular and the business information industry in general.
The BIIA library is approaching 10,000 news items and best demonstrated practices. BIIA members receive regular news alerts on key developments in the industry and the regulatory environment. The BIIA readership is widespread: between 4 to 5 thousand unique visitors access BIIA.com per month.