Bloomberg reports, that E&Y was sued for “negligence, malpractice and breach of contract in connection with audits of financial statements over a five- year period,” which sounds like the standard fair in these matters. The pleasant surprise being the brevity of the suit. “The two-page filing doesn’t provide any details of the allegations against Ernst & Young,” which may cause you to wonder if it’s really just a one-page lawsuit (unthinkable, I know) with the second page simply stating, “This page is intentionally left blank.” Of course the downside here (aside from another lawsuit being lumped on the pile) is that E&Y’s lawyers won’t get a chance to rack up many billable hours just yet. Which is to say, there is no downside. [Bloomberg, Earlier]
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Ernst & Young Video Accurately Portrays First Year Associates in Their New Habitat
This came by way of Jersey (this Jersey, you idiots) and the footage is incredible.
A few things that I observed and/or learned from watching this video:
1. “Duckling syndrome” is something I was familiar with but not that it had a name or was a syndrome.
2. All tax professionals seem to behave exactly the same, no matter where you encounter them.
3. Apparently this was filmed on a casual Friday based on the denim worn by the guy that appears at the 4:00 mark.
4. Timesheets are due at 5:30 on Fridays?
One thing that was less surprising:
1. “At some critical stage in their development, tax professionals generally fail to attain the basic skills necessary for social interaction.”
Leave your own observations below.
Ernst & Young Rang the Closing Bell Today
We don’t recognize anyone but you’re invited to point any notables out.
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And you just know that somewhere, Dick Fuld is slobbing around in a old CU sweatshirt, muttering about backroom number-crunching dweebs that are still in business.
[via NYSE]
EY Gave a Hilarious Excuse For Walking Away From This Awful Municipal Audit Client
Across the pond, EY is earning headlines for its abandoning the Wokingham Borough Council, a […]