REGULATOR FINES EY £1.8M FOR AUDIT FAILURES AT TECH DATA

摘要

EY has been reprimanded and fined £1.8m, reduced from £2.75m, after admitting misconduct in relation to the audit of the financial statements of Tech Data Ltd (formerly Computer 2000 Distribution Ltd), for the financial year ended 31 January 2012, following an investigation by the Financial Reporting Council (FRC). ICAEW member Julian Gray, EY senior statutory auditor and audit engagement partner, has also been fined £59,000, reduced from £90,000, and reprimanded. The misconduct included failures to obtain reasonable assurance about whether the financial statements as a whole were free from material misstatement, failures to obtain sufficient appropriate audit evidence and failures to exercise sufficient professional scepticism.