Lehman ousted whistleblower in 2008 who had raised red flags with Big 4 accounting firm Ernst & Young on $50bn scam; Box-ticking auditors in frame
Mar 16th, 2010 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Lehman Brothers ousted a whistleblower just weeks after he raised red flags with Big 4 accounting firm Ernst & Young on a $50bn scam in 2008. The issue of the events leading up to the collapse of the bank have focused attention on high-fee auditors who engage in box ticking in compliance of requirements but shut their eyes to what be may be going on under the surface.