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EY Denies Negligence in NMC Health Audit

EY Denies Negligence in NMC Health Audit

by Starling Insights

Starling Insights Editorial Board

Nov 04, 2022

Observations

Governance, Audit & Regulatory Failures Audit Culture & Consequences Culture & Performance

EY has denied negligence in its audits of collapsed hospital operator NMC Health in a $2.7 billion court battle that will focus on an auditor’s duty to detect fraud.

Abu Dhabi-based NMC Health entered administration in April 2020 after discovering $4 billion in debt hidden from its balance sheets, despite seven years of clean audits conducted by EY. With the release of more stringent requirements by UK regulators last year, this case is the latest flashpoint in the debate over whether auditors are responsible for detecting fraud.

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