October 18, 2016
Ernst & Young LLP, Craig R. Fronckiewicz, Sarah E. Adams
SANCTION AMOUNT: $11,840,107
Defendants: Ernst & Young LLP
Craig R. Fronckiewicz, Sarah E. Adams
Settlement for alleged failures in audits of client Weatherford International which, separately, was also heavily sanctioned. Its earnings were allegedly inflated by $100 million to $154 million each year between 2007-2012 by fraudulently lowering year-end provisions for income taxes.
- Key Docs
- Official SEC press release