Ventas Dismisses Ernst & Young as Auditor Due to Inappropriate Personal Relationship

The real estate investment trust Ventas has dismissed Ernst & Young as its auditor after E&Y determined that it lacked independence because of an inappropriate personal relationship between an E&Y partner and Ventas s former chief accounting officer and controller.

Source: www.accountingtoday.com

A tough decision requiring a new independent audit for the years in question. I would want to see a review of the processes for evaluating auditor independence by the audit committee, the company’s executive management, and EY. Dave Tate

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