The UK’s accounting watchdog gave a “scathing” and “highly critical” initial report of EY’s conduct in NMC Health Plc’s audit, lawyers for the collapsed hospital operator alleged in the £2 billion ($2.7 billion) trial.
The Financial Reporting Council’s provisional report found EY “demonstrated a complete lack of professional skepticism” and failed “to be alert to conditions that may have indicated possible fraud,” in its last audit of NMC Health for 2018, lawyers for NMC’s administrator, Alvarez & Marsal said in a court filing.
“EY’s Audit of NMC was deficient in multiple respects. These failings are extremely serious,” ...
