Ernst & Young has settled charges with the Securities and Exchange Commission for $2.9 million alleging a conflict of interest in its audits of three companies.
The case involved a series of interviews that Ernst & Young distributed on audio CDs with the CEOs of various companies. The interviews, known as the Ernst & Young Thought Leaders Series, were conducted by executive coach Mark C. Thompson, who was also a board member of three companies audited by the firm, including Best Buy.
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