The decision by the board to investigate the auditing firm was taken following a consultation with the Institute of Chartered Accountants of England and Wales. Ernst & Young said it would cooperate fully with the investigation. "Ernst & Young's audit opinion stated that Lehman's financial statements for that year were fairly presented in accordance with the relevant accounting standards, and we remain of that view," said the firm, according to MarketWatch. Earlier this week, Lehman's European administrator, PricewaterhouseCoopers, proposed a plan to accelerate the return of up to $22 billion of assets to Lehman's unsecured creditors, according to The Wall Street Journal. The plan could allow the majority of claims from the unsecured creditors to be agreed upon by the end of this year and the money distributed next year.