Unaccountable Case File 00017
Below are the documents cited in Unaccountable 00017: EY- Incompetent, Negligent or Just Criminal? This is the second of four Unaccountable profiles that focus on the ‘Big Four’ audit firms- Deloitte, EY, KPMG, PwC. All these firms play a systemic role in economic crimes and state capture. In July, Open Secrets released the report, The Corporations and Economic Crime Report Vol. 2: The Auditors, this profile and the next two draws on research in the report and in the public domain.
The ‘Big Four’ audit firms – Deloitte, EY, KPMG and PwC – all play a systemic role in economic crimes and State Capture. The evidence suggests that these firms have prioritised profit over professional duties and the law. Accountability and reform of the industry are thus essential. In July, Open Secrets released the latest Corporations and Economic Crime Report (CECR). Volume 2 — The Auditors — draws on information from Open Secrets’ investigations and publicly available information to illustrate the crisis faced by the auditing industry and how this impacts the public. Last week’s instalment in the Unaccountable series examined the role of Deloitte in audit failure and dodgy consulting contracts at Steinhoff, Tongaat-Hulett and Eskom. This week, we focus on EY.