Ernst & Young is no longer HealthSouth's auditor. That's no surprise, especially when you read the following statement on the HealthSouth Web site: "In light of recent investigations into HealthSouth's financial reporting and related activity, the financial statements currently found on this Web site should no longer be relied upon."
But HealthSouth isn't the only one getting scrutiny. Last week, there was a Wall Street Journal article which pointed out that in HealthSouth proxies filed with the SEC for 2000 and 2001, approximately $4 million in fees were paid to Ernst & Young for each year. As required, the types of fees were identified, with the bulk listed as audit or audit-related. Only $66,107 for 2000 and $121,580 for 2001 were noted as nonaudit-related fees according to the Jounal.
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