Accountancy

EY audit quality slides ahead of potential split

Regulator finds more than a third of audits require improvement

Wednesday 20 July 2022 at 07:39

FRC review comes as a decision on dividing the firm nears
FRC review comes as a decision on dividing the firm nears Photo: Simon Dawson/Getty Images

Audit quality at EY’s UK arm fell last year, according to an inspection from audit watchdog the Financial Reporting Council.

The FRC found that 35% of the EY audits it reviewed required improvements, an increase from 21% the previous year.