Record Ernst & Young fine in US for cheating on ethics exams

US authorities fined Ernst & Young a record $100 million over cheating on accounting ethics exams that the firm initially covered up from regulators, officials announced Tuesday. On June 19, two days after the SEC fined KPMG $50 million over similar ethical misconduct, the agency sent Ernst & Young a formal request asking if the firm had received any ethics or whistleblowing complaints.