Hacker News new | ask | show | jobs
by chosenbreed37 2182 days ago
> The EY point is interesting. I'm not sure if it's still this way, but when I worked there, a lot of care was put on audit clients as the partner(s) signing off the work had effectively unlimited liability, and could lose pretty much all their money in a worst case scenario.

Does it ever pan out the way? I'm speaking of the liability on the partners. There have been a number of these in recent times involve pretty much all of the big firms.

1 comments

Arthur Andersen was a large accounting firm which went bankrupt after their client Enron went belly up. https://en.wikipedia.org/wiki/Arthur_Andersen