EY fined £3.5m over Stagecoach audit failings

Auditing failings cover its pension scheme, a rail franchise deal, and insurance provisions

Holly Roach
clock • 2 min read
Audit engagement partner Mark Harvey has also been sanctioned
Image:

Audit engagement partner Mark Harvey has also been sanctioned

EY has been fined £3.5m by the Financial Reporting Council (FRC) for failures over its audit of transport company Stagecoach.

The global auditor was also handed a "severe reprimand" over problems when auditing Stagecoach's defined benefit (DB) scheme obligations. The firm's audit engagement partner Mark Harvey has also...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

TPO orders trustees to repay more than £5m to members of three schemes

TPO orders trustees to repay more than £5m to members of three schemes

Investigation finds scheme trustees had engaged in pension liberation arrangement

Martin Richmond
clock 29 November 2024 • 2 min read
SPP: Build it and they will come? Considering the case for multi-employer CDC

SPP: Build it and they will come? Considering the case for multi-employer CDC

John Wilson asks if sponsoring employers are ready to make the move to CDC

John Wilson
clock 26 November 2024 • 3 min read
Budget IHT move a 'major adverse change' to the tax treatment of UK schemes

Budget IHT move a 'major adverse change' to the tax treatment of UK schemes

Fieldfisher calls for clarification over scope of death benefits subject to new regime

Jonathan Stapleton
clock 31 October 2024 • 2 min read
Trustpilot