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| | ITworld.com - SEC after Ernst & Young over PeopleSoft partnership |
 | | Ernst & Young stands accused of violating SEC rules on auditor independence and, if found guilty, could be barred from auditing public companies and could be forced to give back audit fees it charged PeopleSoft, an SEC official said Tuesday. |
 | | Ernst & Young no longer audits PeopleSoft, according to the SEC's Berger, and the business relationships highlighted by the SEC have ended, according to the Ernst & Young statement. |
 | | In the past, Ernst & Young, based in New York, has defended its practice of continuing to offer IT services by saying that it offers them in an "advisory" manner, an approach that doesn't impair its auditing independence and that is different from a more hands-on "consulting" approach. |
| www.itworld.com /Man/2698/020521ernstpeoplesoft (1121 words) |
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