On February 28 the US Justice Department fined Deloitte & Touche LLP $149.5 million for alleged fraud against the government related to its role as the independent outside auditor of Taylor, Bean & Whitaker Mortgage Corp. Also: The damages phase of the FDIC v. PwC case regarding Colonial Bank is set to begin in Washington DC on March 20.
I put two new columns up at Forbes recently that talk about JPMorgan, PwC, Senator Levin’s “Whale” hearings, and all the other stuff JPMorgan and Jamie Dimon are really worried about.
Ernst & Young gets a little bit of good news about Lehman liabilities but… Is it just me or are the auditor defense lawyers losing their touch?
I wonder how PwC GRC Advisory partners feel knowing their multimillion dollar profits from the OCC/Fed foreclosure reviews will be used to pay three big settlements for audit failures at Colonial Bank and MF Global?
