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17 October 2017
EY and former senior partner Julian Gray have been fined and reprimanded after admitting misconduct over the audit of Tech Data in 2012.
EY and Gray, a member of the ICAEW, admitted that their conduct fell significantly short of the standards reasonably to be expected of a member and a member firm, and that they failed to act in accordance with the ICAEW’s Fundamental Principle of Professional Competence and Due Care.
EY received a reprimand and a fine of £1.8m. Gray received a reprimand and fine of £59,000. EY also had to pay a sum of £225,000 towards Executive Counsel’s costs.
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