​FRC investigating EY audits of Made.com, unnamed firm


The U.K. Financial Reporting Council (FRC) announced Thursday the launch of two separate investigations regarding audits performed by Big Four firm EY.

The regulator said it is reviewing EY’s work at British e-commerce company Made.com Group for the financial year ended December 2021. The FRC is also probing EY’s FY2021 audit at an unnamed company for breaches of fee cap requirements set out in the regulator’s 2019 ethical standards guidance.

The investigations, approved by the FRC’s conduct committee in March, each only relate to the firm and not individuals at this time. The regulator provided no further specifics regarding either probe.

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