Ernst & Young’s Indonesian firm has agreed to pay $1m to the US auditing watchdog to settle allegations it fell short of auditing standards, making it the latest affiliate of a “big four” firm to be sanctioned.
The Public Company Accounting Oversight Board issued the penalty against KAP Purwantono, Suherman & Surja and sanctioned two of its members for signing off on an audit despite concerns from a US-based partner reviewing the audit….
via EY Indonesia arm to pay $1m penalty over telecoms audit — FT
