WASHINGTON (AP) — The government has selected two major accounting firms to help it manage the $700 billion rescue program for the financial system.
The Treasury Department said Tuesday it had chosen PricewaterhouseCoopers to be the auditor for the program. Ernst & Young will provide general accounting support.
The two firms will work on the part of the rescue program that is handling the purchase of troubled assets from banks as a way of encouraging them to resume more normal lending.
Treasury said that Ernst & Young will be paid $492,006.95 initially while Pricewaterhouse Coopers will be paid $191,469.27 for its services initially. The two contracts last until Sept. 30, 2011.
Read More Article...
The Treasury Department said Tuesday it had chosen PricewaterhouseCoopers to be the auditor for the program. Ernst & Young will provide general accounting support.
The two firms will work on the part of the rescue program that is handling the purchase of troubled assets from banks as a way of encouraging them to resume more normal lending.
Treasury said that Ernst & Young will be paid $492,006.95 initially while Pricewaterhouse Coopers will be paid $191,469.27 for its services initially. The two contracts last until Sept. 30, 2011.
Read More Article...
0 comments:
Post a Comment