EY’s auditors outside the US are failing a higher number of quality inspections by American regulators, according to the firm’s internal estimates, as US authorities push to improve global standards they fear were hit by the coronavirus pandemic.
Inspections of EY’s work for US-listed companies uncovered deficiencies in up to 38 per cent of the audits carried out by the firm’s overseas businesses last year, according to estimates described to the Financial Times.
That would be a big jump from 2021, when 21 per cent of audits sampled by the Public Company Accounting Oversight Board contained deficiencies.
Read the full story on the Financial Times here.