Ernst & Young Refer to the information on the Ernst & Young ethics code violation for its audit of PeopleSoft.
a. Evaluate the statement made by Ernst & Young that it did nothing wrong because no one was harmed. Is this an appropriate defense against a claim of lack of independence?
b. Can you develop a counterargument against Ernst & Young's position?
c. If the position taken by Ernst & Young seems to violate the independence rules, why did it take this position?