Inside these posts: Auditing

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Ernst & Young set to be charged in Lehman collapse

New York prosecutors are poised to file civil fraud charges against Ernst & Young for its alleged role in the collapse of Lehman Brothers, saying the Big Four accounting firm stood by while the investment bank misled investors about its financial health, people familiar with the matter said.

State Attorney General Andrew Cuomo is close to filing the case, which would mark the first time a major accounting firm was targeted for its role in the financial crisis. The suit stems from transactions Lehman allegedly carried out to make its risk appear lower than it actually was. Get the full story »

Deloitte & Touche names new CEO and chairman

Deloitte & Touche Chairman and CEO Stephen Van Arsdell. (AP)

Stephen C. Van Arsdell, of Naperville, has been named chairman and chief executive officer of Deloitte & Touche LLP, the accounting, auditing, capital markets and risk advisory subsidiary of Deloitte LLP.

Van Arsdell, 60, will be based in Deloitte’s New York office. He most recently served as deputy chief executive officer of Deloitte & Touche with responsibility for the professional practice network, and succeeds Nick Tommasino, who has served as chairman and CEO of Deloitte & Touche since 2006. Get the full story »