Danske’s EY Auditors Face Disciplinary Action for Failures
- Ernst & Young was auditor on Danske’s 2014 financial report
- Danske is under investigation in EU’s biggest laundering case
This article is for subscribers only.
Denmark’s business watchdog said it has brought two auditors before a disciplinary board after concluding they violated regulations while reviewing Danske Bank A/S, the lender caught up in Europe’s biggest money laundering scandal.
The Danish Business Authority said the auditors’ work on the bank’s 2014 financial statements “was not performed in accordance with generally accepted auditing standards and not sufficiently documented,” according to a statement dated Jan. 28. The agency didn’t name the people.