A rare criminal investigation into corporate auditing is focused on allegations that bid-rigging helped Ernst & Young LLP win a competition run by Sealed Air Corp., according to people close to the probe.
The scrutiny highlights the close ties that often exist between corporate executives and the Big Four audit firms.
William Stiehl and Carol Lowe were senior executives at Sealed Air when the bubble-wrap maker in 2015 appointed Ernst & Young. A decade earlier, the two were senior executives at Carlisle Cos. when that company also appointed Ernst & Young, public records show.
‘Enforcement 40’ for 2020
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