Post Office auditor EY under investigation by accounting regulator FRC
- The UK's Financial Reporting Council launched an investigation into EY's audits of the Post Office.
- The audits, conducted between 2015 and 2018, occurred during the Horizon IT scandal, leading to wrongful convictions.
- The probe will assess EY's compliance with auditing standards related to the discredited Horizon system, developed by Fujitsu.
- EY reportedly warned the Post Office in 2011 that Horizon posed 'a real risk' and questioned data accuracy.
- The FRC investigation follows other sanctions against EY and highlights the importance of auditor independence and quality control.
17 Articles
17 Articles
UK EY investigated over post office audits tied to Horizon scandal
The UK’s Financial Reporting Council (FRC) has launched an investigation into Big Four accounting firm EY over its audits of the Post Office during the height of the Horizon IT scandal between March 2015 and March 2018. The probe will focus on whether EY complied with auditing standards, specifically in relation to the now-discredited Horizon computer system, developed by Fujitsu, which led to the wrongful conviction of hundreds of sub-postmaste…
Post Office scandal: audit watchdog to probe EY
EY is being investigated over its audit of Britain's Post Office Ltd. Photo: Getty Images Britain's Financial Reporting Council is investigating EY over its audit of Post Office Ltd, amid the lingering fallout from one of the country's worst miscarriages of justice.
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