BANKING & FINANCE - May 5, 1992
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Arizona to Examine Lincoln S&L; Accountant: The accounting firm of Ernst & Young could find itself barred from business in Arizona as a result of complaints over its handling of American Continental Corp. and Lincoln Savings & Loan audits. The Arizona Board of Accountancy has ordered a hearing into allegations that Ernst & Young and five associates were negligent in their auditing of and in their formal statements about the financial condition of the now-failed companies. The hearing could lead to revocation of Ernst & Young’s license in Arizona.
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