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06 Dec 2011
ERNST & YOUNG faces a $900m (£578m) lawsuit for its audit of a fund linked to Bernie Madoff's corrupt Ponzi scheme.
M-Invest was created to feed money into the imprisoned swindler's firm, Bernard L. Madoff Investment Securities, and its liquidators are pursing the auditor for damages.
E&Y stands accused of negligence, malpractice and breach of contract.
A spokesperson said: "The suit has no merit and we will defend ourselves." Eric Seiler, an attorney representing M-Invest, was unavailable for comment.
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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