In one of the recent headlines by the most important auditing firm Ernst and young, it has been in the position to come forward that the company has imposed a 100 million dollar fine.
Ernst And Young Were Fined $100 Million After Employees Cheated In Exams
The Government of The United States of America has been in the position to slap this huge fine on the face of the multinational company. It was after the truth came out that the regulators finally discovered the company already had sufficient information that all the company’s auditors had been cheating in the exams for several years.
Despite knowing the entire truth, the company did not do anything in the first place to stop all these kinds of incidents. This is nothing but an act of Corporate negligence, which would not be supported in this world of corporate governance and compliance.
This has been in the position to reduce the huge amount of reputation that the company has been able to build in all these years, and it has also affected the company’s market value since many of its contracts have been lost since then.
Act Of The Company
According to the regulations that have been developed by the country of the United States of America, it is important to undertake all the examinations by the auditing firms with due diligence. It is considered the best type of perspective that would be remembered at every point in time. The company has been able to expose at least a sufficient number of employees who have been cheating on the Ethics of the certified public accountant.
Since the employment and the exercise of the duties by the officers of this particular company have been tested on the grounds of legality and the results have not been satisfactory, it is important to mention that all the types of transactions and compliance that the company has executed on behalf of other companies are also likely to get tested because the same has not been in the position to meet the test of law.
Factors That Matter
It has been able to affect the companies of different types of nations, and at the same time, this will be a bad example for the entire nation if a step is not taken against this kind of action in the first place. It is important to understand that this level of success is always helpful in monitoring upcoming events and addressing the same point in time.
It would also be important to bring a future amount of utility over the period, which might not be possible in situations beyond a particular person’s control.
The company Ernst And Young has been planning to take a sufficient amount of steps against the employees who have acted in the capacity of being cheaters but since it is too late for the company to do all of this government is finding it difficult to accept the genuine efforts of the company is well since it has been a mute spectator to all of this kind of negligence in all these years.
This is one of the most important guidelines that have to be taken into consideration over some time. This will be helpful in the long run to bring the maximum amount of utility.
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