Japan fines E&Y affiliate 2.1b yen over Toshiba audit
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Tokyo
JAPAN'S financial regulator has fined an Ernst & Young affiliate 2.1 billion yen (S$24.5 million) after the firm's audit of Toshiba Corp's accounts failed to spot irregularities in the country's worst accounting scandal in years.
The Financial Services Agency (FSA) said on Tuesday that it would also suspend Ernst & Young ShinNihon LLC from taking on new business contracts for three months.
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