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Cheerleader E&Y fined $2 million for audit irregularities

This article was originally published in Scrip

Executive Summary

Ernst and Young, which regularly act as cheerleader for the industry with the release of its generally positive annual life science reports, has been fined $2 million by the Public Company Accounting Oversight Board (PCAOB), the US auditing watchdog, over irregularities in auditing the accounts of dermatology specialist Medicis Pharmaceutical.

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