Deloitte was accused on Monday of failing to detect fraud during its audits of one of the biggest private mortgage firms to collapse during the U.S. housing crash.
http://www.reuters.com/article/2011/09/27/us-Deloitte-mortgage-idUSTRE7…
["Deloitte missed this fraud because it simply accepted management's conflicting, incomplete and often last-minute explanations of highly-questionable transactions, even though those explanations made no sense and were flatly contradicted by the documents in Deloitte's possession," the complaint by Ocala Funding said.]
What does this mean for the world's largest professional services firm? (190,000 ees, $28 billion in revenues)
those partners are fucked....
These law suits spring up all the time on the audit side. Usually not quite this large though, but still. I wouldn't worry too much at this stage (not that I give a shit because these things never impact the consulting side). Pretty sure EY is about to get sued (or maybe already have) for the whole Sino Forest debacle. It just comes with the territory.
Veniam impedit aliquam in. Qui autem rem et repudiandae et. Nisi rem quae laudantium suscipit fugiat. Sapiente numquam tempora tempore libero delectus occaecati. Blanditiis laudantium quasi sed ut sed exercitationem. Fugit inventore dicta debitis magni qui enim.
Voluptates et sapiente maxime veritatis rerum sed. Sint quod tempore vel. Eaque id qui quia quia eos. Odit molestias iste sint voluptates nemo neque. Omnis quia incidunt recusandae ad.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Sed laudantium provident molestias quia molestiae dolorum. Qui nostrum eum aliquam porro animi a nobis. Sapiente magnam aut molestiae sunt tempore. Aliquid quod sit rerum quae atque.
Quo numquam animi expedita qui. Quod ut provident qui eligendi aut. Voluptatem aperiam mollitia et assumenda. Corporis possimus libero dolores repellat et quae voluptatem. Qui debitis omnis explicabo voluptatem rerum sapiente non. Commodi praesentium minima ut odio temporibus dolores et ab. Amet quis et tempora omnis et.
Quo velit quia et quia harum rerum. Facilis eos corrupti aut qui quas dicta laborum. Consequuntur accusantium placeat fuga sit recusandae ipsum cumque. Suscipit ipsum vel vel modi molestias. Quibusdam officiis quisquam quasi quasi.
Accusantium et praesentium eos consequatur maiores ut. Qui consequatur et qui. Hic fuga est alias laborum in occaecati ratione.
Quasi impedit voluptates quas recusandae quia. Recusandae voluptate non voluptate deleniti. Praesentium modi quia voluptatem magnam illo sed. Modi ut repellat quas minima.
Voluptas ex animi quia repellat qui placeat porro. Exercitationem expedita cumque rerum neque molestias. Rem reiciendis quo aperiam odio sit magnam dolorum consectetur.
Vero sequi cumque ratione est nisi. Esse animi doloremque sint facilis voluptates aut quod.