Compliance Week Articles Delve Into the EY Personal Relationships Independence Matters

October 3, 2016 RECENT DEVELOPMENTS

There's been a fair amount of press about the SEC's enforcement actions against Ernst & Young for auditor independence - two matters, actually - both related to personal relationships EY audit team members had with two different audit clients.  Recent Compliance Week articles written by Tammy Whitehouse view the matters from the audit committee's perspective, that is - what's an audit committee member to do?   (Given their responsibility for auditor independence and the ramifications of auditor noncompliance to a company, these tales are cause for alarm.)  The two articles, which provide some tips and reminders that should be useful to audit committee members, are: 

Audit committees need to dig into personal relationships

and

Audit committees: Here’s your wake-up call on auditor independence

Happy reading!!