Investigation regarding an audit by Ernst & Young LLP
News types: Investigations
Published: 13 March 2025
This Press Notice concerns the opening of an investigation into one or more Statutory Auditor(s) and/or Statutory Audit Firm(s)1. The investigation does not relate to any persons or entities other than the relevant Statutory Auditor(s) and/or Statutory Audit Firm(s) and it would not be fair to treat any part of this announcement as constituting or evidencing an investigation into any other persons or entities.
The Financial Reporting Council (‘FRC’) has commenced an investigation into the audits conducted by Ernst & Young LLP of the consolidated financial statements of a Public Interest Entity (as defined in the Audit Enforcement Procedure) and a related non-PIE entity for the years ended 31 December 2021 and 2022.
The decision was made at a meeting of the FRC’s Conduct Committee on 21 November 2024.
The investigation will be conducted by the FRC’s Enforcement Division under the Audit Enforcement Procedure.