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Auditors face probe over client assets

Tuesday, 5th October 2010

Two of the big four audit firms are under investigation by the industry's disciplinary body as a result of a wide-ranging Financial Services Authority crackdown on the protection of client assets. The Accountancy & Actuarial Discipline Board (AADB) yesterday said it had begun a second probe into Ernst & Young's role as auditor to Lehman Brothers International (Europe) – the bank whose collapse in September 2008 triggered a global financial meltdown.

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