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Alcatel accounts: commissioners threatened with sanctions

2021-11-28T20:48:05.187Z

Under fire from critics, audit firms are increasingly singled out by regulators. The French audit gendarme could severely sanction the Deloitte and EY firms for having certified the 2014 and 2015 accounts of Alcatel-Lucent. The general rapporteur of the restricted formation (that is to say the sanctions body) of the High Council of the Statutory Auditors (H3C) accuses them of having committed "extremely serious" errors by certifying without reservation. the 2014 and 2015 accou



The French audit gendarme could severely sanction the Deloitte and EY firms for having certified the 2014 and 2015 accounts of Alcatel-Lucent.

The general rapporteur of the restricted formation (that is to say the sanctions body) of the High Council of the Statutory Auditors (H3C) accuses them of having committed

"extremely serious"

errors

by certifying without reservation. the 2014 and 2015 accounts of Alcatel-Lucent.

According to him, the work of the auditors was not

“relevant”

enough

to attest to the reliability of the turnover of the American subsidiary, which represented 40% of the sales of the Franco-American telecoms equipment manufacturer, sold in 2015 to Nokia.

To read also

Alcatel, more than a century of existence and many adventures

At the end of four days of hearing, the rapporteur requested on Friday a ban on practicing in France for 24 months for Deloitte, main auditor of Alcatel-Lucent and 18 months for EY, co-auditor.

Both sentences would, however, be accompanied by a suspended sentence.

In addition, the rapporteur called for penalties of prohibition

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Source: lefigaro

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