Its not, the auditor will have Professional Indemnity insurance, you may take the view as the client that you are responsible for the excess if EY is found to have complied with its responsibility, but its highly unusual for the client to carry the risk of the auditors not doing their job...
That entire structure sounds like a situation where your sitting with your auditor and they look at you and say, "Mate, thats running really close to the line on appropriate recording of income, technically you are right, but people will get the wrong impression and not like it and if something goes wrong, they will come for me, how about we put some kind of explanation here so people dont get the wrong idea" and the response "Dont worry about it mate, I'll cover any litigation, just do you job to the very strict interpretation of the law"
BLA Price at posting:
$1.71 Sentiment: Sell Disclosure: Not Held
