The British Financial Reporting Authority launched an investigation with Ernst & Young, the financial accounting and auditing company that was reviewing and auditing the financial statements of NMC Healthcare facing financial crises that forced banks The creditor will impose their guardianship on it and assume its management. According to Arabia Net, the authority said in a statement issued today, Monday, that it will investigate the financial statements of the company for the year 2018, and the investigation of the case began on April 15th, and that it could be interpreted. To impose fines. NMC has disclosed more than $ 6.6 billion in debt monitoring that had not been disclosed since the group's interim financial statements were announced on June 30, 2019. The company said Maddy Waters, an American who specializes in investment research and financial data disclosure last month, has serious doubts about the company’s financial statements including asset values, cash balance, reported earnings, as well as debt levels, which are at the forefront of the reasons that prompted her to research the company's position And the way it is managed, expressing her belief that NMC manipulated its balance sheets to reduce the debt deliberately. p> The Financial Reporting Council (FRC) is an independent regulatory body in the United Kingdom and Ireland, responsible for regulating auditors, accountants, and actuaries, and developing the laws of corporate governance and management of UK companies. The Financial Reporting Council seeks to enhance transparency and integrity in business by directing its work to investors and others who rely on company reports, audits and high-quality risk management. Organizers in the United States criticized Ernst & Young and three other accounting firms because of unclear audits and noticeable conflicts of interest, which led to parliamentary claims. Separate the consulting activity from the company's audit activity. In July, the UK's accounting authority said it had approved record fines of 42.9 million pounds in the past 12 months.
A former accounting firm partner, Ernst In Young, received compensation of $ 10.8 million (£ 8.6 million) after being forced out of his job when he revealed professional misconduct. During a review of the Dubai Gold Refinery, according to Bloomberg.
