EY faces investigation over audit of Made.com before firm collapsed
The UK’s audit watchdog has launched an investigation into EY’s audit of Made.com before the firm collapsed late last year.
The online furniture business went into administration in November after rescue talks to find a buyer failed.
The Financial Reporting Council announced today that it will start investigating EY’s audit of the firm’s accounts for the year ending December 2021.
The regulator also said it was scrutinising EY’s audits of a separate unnamed company, focusing on a possible breach of fee cap requirements.
The Big Four firm confirmed that it has been notified about the investigations.
“We will be fully cooperating with the FRC during their enquiries. It would be inappropriate to comment further at this time,” EY said in an emailed statement.