SEC heralds new auditor focus with EY lobbying fine
A $4 million fine for EY for illegal lobbying could be followed by more sanctions for "gatekeepers" judged to have acted unethically
The US Securities and Exchange Commission's $4 million fine for auditor EY for prohibited lobbying on its clients' behalf emphasises the regulator's focus on "gatekeepers", including accountants, lawyers and internal compliance officers as well as auditors.
The regulator found that EY's lobbying subsidiary, Washington Council EY (WCEY), had lobbied members of Congress on behalf of two unnamed companies which were also audit clients of EY. WCEY had rewritten bills under debate and worked to quash
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