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Equitable accounts to be investigated

The Institute of Chartered Accountants in England and Wales is to look into the role of accountants which acted for Equitable Life prior to the troubled mutual closing its doors.

The investigation is likely to look at Equitable&#39s auditors, Ernst & Young, although they say that they are satisfied with their performance.

Referring to the landmark legal decision that precipitated the Equitable crisis, Ernst & Young insurance practice head Rob Holman says: “It would be very difficult to draw up a set of accounts on the basis of a decision that hadn&#39t yet been received.”

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