Flash Survey: Throw The Book at Ernst & Young, Execs Say

Nearly half of business executives responding to a survey on Monday agree that New York’s attorney general should go ahead with fraud charges against Ernst & Young.

 

The Wall Street Journal on Monday reported that the accounting firm could face civil fraud charges in connection with its role in the 2008 collapse of investment bank Lehman Brothers.

 

498 executives from an array of industries participated in the survey, which was conducted by Argyle Executive Forum, a New York-based professional services firm.

 

Fewer than a third of respondents (27.3 percent) say the New York attorney general shouldn’t move ahead with charges, and another quarter (24.3 percent) say they aren’t sure.

 

Respondents were also asked for their view on the role Ernst & Young played in Lehman Brothers’s implosion. Nearly four in 10 (39.2 percent) say the firm “had a material role in the collapse,” while almost as many (35.5 percent) believe the firm did not have a material role. One in four (25.3 percent) say they aren’t sure.