Headlines
UK watchdog probes EY over unauthorised auditor reports
Published by Global Banking and Finance Review
Posted on December 10, 2025
Last updated: January 7, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on December 10, 2025
Last updated: January 7, 2026
LONDON, Dec 10 (Reuters) - Ernst & Young (EY) and two of its member firms are being investigated for due process failures that led to the unauthorised issuance of auditor reports, Britain's accounting watchdog said on Wednesday.
The reports were issued to unnamed entities without proper approval from a senior statutory auditor, a spokesperson for the Financial Reporting Council said.
EY, one of the world's "Big Four" leading accounting and consulting networks, said it had informed the companies involved, checked the audit files and found that no financial adjustments or changes to audit opinions were required.
The firm was not immediately available for further comment.
(Reporting by Kirstin Ridley and Muvija M, Editing by Paul Sandle and Jan Harvey)
An auditor is a professional who examines financial records and statements to ensure accuracy and compliance with established standards and regulations.
Compliance refers to the process of ensuring that a company adheres to laws, regulations, standards, and ethical practices relevant to its operations.
A regulatory framework is a set of rules and guidelines established by authorities to govern the operations of businesses and ensure fair practices.
An audit is an independent examination of financial information of any entity, whether profit-oriented or not, regardless of its size or legal form.
Explore more articles in the Headlines category
