Four current and former tax partners at Ernst
& Young have been charged by a US grand jury with tax fraud conspiracy.
The four are alleged to have marketed fraudulent tax shelters to wealthy
clients who would otherwise have owed the IRS
more than $10m (?5m) apiece.
The four charged are former partners Robert Coplan and Brian Vaughn, and
current partner Martin Nissenbaum and Richard Shapiro, who are on administrative
They all worked in a group set up by E&Y in 1998 to develop and sell tax
shelters for the rich, known as
Ideas Produce Extraordinary Results, or Viper.
All are expected to plead not guilty
E&Y said in a statement: ‘The individuals who were indicted . . . were
part of a small group within the firm, disbanded years ago . . . Ernst &
Young has voluntarily made many changes and enhancements to our tax practice.’
Two new audit partners have been appointed at the firm BDO in its audit practice following continued growth and investment
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
Six new partners have been revealed by top ten firm Mazars
Investment in people, tech and businesses impacts on EY's profit per partner figure