{"id":1530561,"date":"2022-06-28T13:34:32","date_gmt":"2022-06-28T17:34:32","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1530561"},"modified":"2022-06-28T13:34:36","modified_gmt":"2022-06-28T17:34:36","slug":"woke-corporation-slapped-with-100-million-fine-because-employees-cheated-on-their-ethics-exams","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/woke-corporation-slapped-with-100-million-fine-because-employees-cheated-on-their-ethics-exams\/","title":{"rendered":"Woke Corporation Slapped With $100 Million Fine Because Employees Cheated On Their Ethics Exams"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwoke-corporation-slapped-with-100-million-fine-because-employees-cheated-on-their-ethics-exams%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1530561&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Employees at professional services <a href=\"https:\/\/www.dailywire.com\/topic\/business\">company<\/a> Ernst &#038; Young (EY) cheated on their ethics exams \u2014 leading to a $100 million fine, the U.S. Securities and Exchange Commission (<a href=\"https:\/\/www.dailywire.com\/topic\/securities-and-exchange-commission\">SEC<\/a>) announced Tuesday.<\/p>\n<p>EY \u2014 known as one of the \u201cbig four\u201d accounting firms \u2014 admitted that a \u201csignificant number\u201d of audit professionals cheated on the ethics portion of their certified public accountant (CPA) exams and continuing education courses, according to a <a href=\"https:\/\/www.sec.gov\/news\/press-release\/2022-114\">press release<\/a> from the agency. The company also withheld evidence of the misconduct from officials.<\/p>\n<p>\u201cThis action involves breaches of trust by gatekeepers within the gatekeeper entrusted to audit many of our Nation\u2019s public companies,\u201d Gurbir Grewal, director of the SEC\u2019s Enforcement Division, said in the release. \u201cIt\u2019s simply outrageous that the very professionals responsible for catching cheating by clients cheated on ethics exams of all things.\u201d<\/p>\n<p>EY will be forced to pay a $100 million penalty and \u201cengage in extensive undertakings\u201d to address the ethics breaches.<\/p>\n<p>\u201cThe SEC will not permit the submission of misleading information or any action that delays or frustrates our mandate to protect investors and our markets,\u201d Melissa Hodgman, Associate Director of the SEC\u2019s Enforcement Division, added. \u201cErnst &#038; Young faces significant sanctions and extensive remediation to ensure that its culture and conduct meet the ethical standards required of those responsible for the integrity of our capital markets.\u201d<\/p>\n<p>EY, based in London, England, joins other leading corporations in denouncing racism and committing to <a href=\"https:\/\/www.dailywire.com\/topic\/woke\">social justice<\/a> initiatives. \u201cEY is taking actions as a US firm to eradicate racism and discrimination by leveraging our influence to drive strategic change in our firm, in the communities where we work, and through public policy,\u201d the firm said on its <a href=\"https:\/\/www.ey.com\/en_us\/purpose\/ey-commitment-to-anti-racism\">website<\/a>.<\/p>\n<p>However, EY is not the first left-leaning financial services company that has been penalized for its poor ethical standards.<\/p>\n<p>The SEC recently <a href=\"https:\/\/www.dailywire.com\/news\/sec-calls-investment-banks-wokeness-bluff-slaps-them-with-fine\">imposed<\/a> a $1.5 million penalty on BNY Mellon for \u201cmisstatements and omissions\u201d concerning its Environmental, Social, and Governance (<a href=\"https:\/\/www.dailywire.com\/topic\/esg\">ESG<\/a>) social responsibility goals for various mutual funds the investment bank oversaw. The agency said that BNY Mellon\u2019s investment adviser practice \u201crepresented or implied in various statements that all investments in the funds had undergone an ESG quality review\u201d between July 2018 and September 2021, although \u201cthat was not always the case.\u201d<\/p>\n<p>Likewise, former and current employees at Wells Fargo blame the firm for <a href=\"https:\/\/fortune.com\/2022\/06\/09\/wells-fargo-federal-investigation-fake-job-interviews-minority-candidates-report-says\/\">conducting<\/a> fake interviews with female and minority applicants to artificially increase diversity numbers. The employees said the interviews were no more than attempts to support diversity goals and avoid regulatory audits. In August 2020, Wells Fargo <a href=\"https:\/\/www.dol.gov\/newsroom\/releases\/ofccp\/ofccp20200824\">agreed<\/a> to pay $7.8 million to settle a U.S. Department of Labor claim saying that the bank discriminated against more than 34,000 African-American applicants for banking, customer sales and service, and administrative support positions, as well as over 300 female applicants for administrative support positions.<\/p>\n<p>Wells Fargo, however, joined other investment banks in their diversity pushes after the death of George Floyd.<\/p>\n<p>\u201cThis is a painful time for our nation,\u201d Wells Fargo CEO Charlie Scharf <a href=\"https:\/\/www.cnbc.com\/2020\/06\/01\/wall-street-ceos-speak-out-about-george-floyd-and-protests-rocking-us-cities.html\">said<\/a> at the time. \u201cAs a white man, as much as I can try to understand what others are feeling, I know that I cannot really appreciate and understand what people of color experience and the impacts of discriminatory behavior others must live with.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Employees at professional services company Ernst &#038; Young (EY) cheated on their ethics exams \u2014 leading to a $100 million fine, the U.S. Securities and Exchange Commission (SEC) announced Tuesday. EY \u2014 known as one of the \u201cbig four\u201d accounting firms \u2014 admitted that a \u201csignificant number\u201d of audit professionals cheated on the ethics portion &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1530633,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1530561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1530561","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1530561"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1530561\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1530633"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1530561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1530561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1530561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}