EY reported US$53.2 billion in global revenue for fiscal 2025, including US$17.9 billion from Assurance. On July 28, 2026, the UK Financial Reporting Council fined the firm £1.197 million and audit partner Julie Carlyle £49,000 over failures i...
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EY Hit With £1.2m Fine Over Made.com Accounting Failures
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Subscribe28 JUL 2026 / ACCOUNTING & TAXES
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Global firm EY and audit partner Julie Carlyle have been fined $1.197 million and £49,000 respectively by the UK Financial Reporting Council (FRC) due to failures in their audit of made.com. The firm did not meet required standards in evaluating "going concern" and a deferred tax asset of Made.com, a company that entered administration in November 2022. This case serves as a reminder of the necessity for auditors to adopt a skeptical and challenging approach when evaluating assumptions, forecasts, and evidence.
EY reported US$53.2 billion in global revenue for fiscal 2025, including US$17.9 billion from Assurance. On July 28, 2026, the UK Financial Reporting Council fined the firm £1.197 million and audit partner Julie Carlyle £49,000 over failures i...
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