Audit Watchdog Opens Probe Into EY Accounts Of Health Co.

Law360, London (May 4, 2020, 11:33 AM BST) -- The Financial Reporting Council said Monday it is it investigating Ernst & Young LLP's audit of a troubled hospitals operator that collapsed into administration in April amid allegations of fraud.

The regulator will want to know how EY could have overlooked the company's failure to report more than $4 billion in loans. (Getty) The accounting watchdog said it began its probe in April into the 2018 audit of NMC Health's financial statement. The regulator will want to know how EY could have overlooked the company's failure to report more than $4 billion in loans that were taken out and not disclosed...

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