07 June 2010
Auditors, Ernst & Young, were fined £500,000 by the
accountancy profession's Appeal Tribunal for failings in its role
as the auditor for Equitable Life.
Ernst & Young were also reprimanded over its audit reports
on Equitable Life between 1997 and 1999, and told to pay costs of
£2.4m for not alerting policyholders about Equitable Life's
problems.
