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EY to pay $100m settlement fine over audit employees cheating CPA exams
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WASHINGTON — Ernst & Young agreed to pay a record $100m fine and to admit that some of its auditors cheated on required ethics exams in recent years, according to a settlement order released on 28 June.
The Securities and Exchange Commission said the penalty is the largest fine ever imposed on an audit firm, and stemmed partly from EY's failure to report the scandal to regulators who had asked the firm about such misbehaviour.
The...
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