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Panel clears audit firms of Olympus scandal blame

reuters.com

The scandal, one of corporate Japan's worst, had raised questions over the role of the two audit firms, which signed off on the accounts of the maker of medical equipment and cameras before the 13-year fraud finally surfaced in October. But the panel of lawyers set up by Olympus to look at the role of auditors said in a report on Tuesday that five individual auditors were responsible for 8.4 billion yen ($109 million) in damages. Olympus said later it was suing the five former and current indivi