EY Accused of Missing 'Red Flag' in NMC Collapse

EY accused of missing 'red flag' in NMC collapse

Big Four firm EY UK was accused of being “grossly negligent” and failing in its most fundamental audit duties over seven years, allowing a massive fraud to continue and ultimately causing NMC’s financial collapse. The mammoth £2.7bn legal battle between EY and its former clients, a London-listed health giant that collapsed after allegations of fraud, began its closing arguments at the High Court this week. The administrators of private hospital …

Court reconvenes for EY NMC Health audit negligence case

EY says fraud was sophisticated NMC says EY failed in its duties Judgment may take months “Big Four” accountancy company EY will argue it should not be held liable for the alleged multibillion-dollar fraud that caused the collapse of Abu Dhabi-based NMC Health, as the UK High Court trial enters its final phase after resuming yesterday. EY will maintain that it could not reasonably have been expected to spot the “complex and sophisticated fraud” …