This EY partner has been a bit naughty.

Well it seems like an EY partner was working late with a client and it was more than the audit files that they were reviewing.

office relationsNew York stock exchange quoted Ventas Inc has announced that it has removed EY as their auditor due to an “inappropriate personal relationship” between a (now former) EY partner and Ventas’s (now former) Chief Accounting Officer and Controller, Robert Brehl.

It looks like discussing the audit files wasn’t exciting enough for both of them and one thing led to another and before you could say “prudence concept” they were ripping each other’s clothes off having inappropriate personal relationships.

Now, as any self-respecting finance professional will know, a core characteristic of auditing should be “independence”.

[Words deleted so as not to upset people of a sensitive nature] with the Chief Accounting Officer when you’re an audit partner is clearly not a characteristic of independence.

KPMG have now replaced EY as the auditors of Ventas and my guess is that both the ex-EY partner and Mr Brehl will soon get a reminder of what independence means as if they are married their husband/wife will soon be independent of them.

Should Ernst & Young have done this?

I think truth and honesty in business are vital. I can therefore say in all truthfulness and honesty that I think Ernst & Young is[..]

Should a PwC partner blame the junior staff?

If something goes wrong on an audit, whose fault is it? Is it the partner’s fault or the junior member of staff’s fault? Over in[..]

He's the boss of EY but what does his mum think?

He’s just been appointed as the new head of Ernst & Young with ultimate responsibility for the 152,000 EY people in 144 countries but what[..]
You're fired...
How many CEOs of top global companies were replaced last year? Well, the answer may surprise you and what also may surprise you is the[..]
On your bike...
If you drive to work, one of the nice things is to have a parking place. There’s nothing worse than being on time for work[..]
Dog seized to pay tax bill...
It’s always best to keep up to date with your tax affairs. Although most people don’t enjoy paying their taxes, it’s the law and if[..]
Best to take it back...
Most of you have probably had an interview. In fact, some of you may have had a number of interviews but a boss of one[..]