Nearly 50 EY audit employees shared answers on the ethics part of the CPA exam between 2017 and 2021, with hundreds more cheating on continuing professional education courses, the SEC said.
A significant number of EY professionals who did not cheat but knew their colleagues did, and facilitated the cheating, also violated the firm’s code of conduct by failing to report it.
EY is one of the world’s big 4 accouting, consulting and auditing firms. The other three are Deloitte, PWC and KPMG.
Total losers. I’m glad none of the Big 8 (later Big 6, etc) were interested in hiring me in my late 20s after serving in the military. Screw them.
How could anyone cheat on an ethics exam?
I was employed at MCI in December of 1981. I continued to be employed through the purchase by WorldCom and securities fraud by Bernie Ebbers, subsequent bankruptcy and restructuring, and purchase by Verizon.
We had ongoing ethics training company wide after the bankruptcy. I cannot see how a person could cheat on ethics training. Do they really mean employees lied because that might be possible.
Wow, this is very bad for the profession. CPA’s most valuable asset is credibility and E&Y just impaired that big time.
Big 4 about to become the Big 3?
If the fine $$ went back to the customers I might care about this, but since it will go into the governments slush fund...shrug!
On one hand, good for them. On the other hand, the current US Gov’t is the most unethical organization this side of Ukraine. Must be some political purpose to this.
Are the questions on an ethics exam that tough? I don’t know - just asking.
A dark part of me wants a CPA who would cheat on the ethics portion to do my taxes.
Dealing with the IRS and all…