Liars and cheaters everywhere!
The irony is thick here.
Moreso, how could one trust such an organization.
That goes a long way to explain the coked-up harlot that left them to become CFO of the last company I worked at before I departed for the much better realm of self-employment.
It took me 3 tries to pass the CPA exam 30 years ago, before multiple guess questions dominated the test. BTW, I took it 15 years after college, as there were other pursuits/careers along the way.
What got me over the top were the essay questions. Credit goes to my accounting professor in college. He gave two tests every semester, a mid-term and a final. All essay questions, at least two or three made you start your answer with, "based on the information you've given me, I cannot answer the question." From there, you had to explain the accounting theory involved.
He also used no numbers in those 30 semester hours of instruction. It was all accounting theory. Brilliant man, brilliant teacher. He was larger than life, and a good friend by your senior year. The stories I could tell about him, 45+ years after graduation.
Back on topic, anyone who has been found guilty of cheating on the ethics exam should be fired, and their license revoked.
> âAt EY, nothing is more important than our integrity and our ethics.â <
âAnd also not getting caught. Thatâs important too,â the spokesperson added.
Welcome our next graduating class of politicians.
Oh Lordy. If you canât pass an ethics exam youâre an idiot or have no moral compass
That’s funny. The Feds are worried about other peoples ethics.
Okay, identify them, rescind their licenses, refund clients for “work” performed by these people. If I were a customer, I’d be demanding accountability, transparency, and refunds. I beleive E&Y does work for the government (federal, state, and local). I presume this is contract fraud?
Accounting should be easy. 2+2=4
Now add in the tax code and new math and Common Core math and you got trouble.
I’d like to see an audit of the federal government. But what’s the use when the auditors themselves are shysters.
Ernst & Young CEO Will Use Position On Boy Scouts Board To Advocate For LGBT Inclusion
Ernst & Young was instrumental in destroying the Boy Scouts.
However, the SEC says that a “significant number” of Ernst & Young audit professionals specifically cheated on the ethics component of the CPA exams that were required for their accounting jobs.
Audit firms serve a critical gatekeeping role in the financial markets and it is their jobs to ensure integrity of the financial reporting done by companies. It’s why the independence and integrity of these firms are paramount.
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A lack of conscience is part of the reason for the Great Financial Crisis and will undoubtably be part of the reason for the next financial crisis.
A) The cheaters are not punished.
B) Government backstops the cheaters making them whole.
C) The cheaters learn that crime pays.
Anyone know if E&Y do any audits of state and/or local governments..?
How is that working out for everyone?
Ethics Exam crib sheet: (E&Y internal circulation only)
Question 1: Do you lie?
Correct answer: No.
Question 2: Do you cheat?
Correct answer: No.
Question 3: Do you steal?
Correct answer: No.
How, exactly, does one not already know the correct answers?
If you don't need an exam to get grades in high school, and you don't need an exam to get into college anymore, then who needs an exam to get a job?
-PJ
I posted elsewhere about how the CPA industry is looking forward to being the authority on ESG. The SEC is pushing the nonsense. But âcertificationâ well make it seem credible.
BTW - One would reasonably assume that E&Y is not the only firm that has the shortcomings regarding ethics.