Regulatory Alerts2026-03-27
AFM largely upheld in disciplinary case against EY accountant for Airbus
The Dutch Financial Markets Authority (AFM) initiated a disciplinary complaint against an EY accountant for the 2019 Airbus annual report, which the Accountants Chamber largely upheld due to insufficient audit procedures regarding bribery and corruption compliance fraud risks. Consequently, the accountant was issued a three-month temporary removal from the professional register, prohibiting practice during that period while allowing both parties to appeal the ruling. This disciplinary action enforces professional competence standards, mandates rigorous audit evidence collection for financial reporting, and reinforces public trust in capital markets.
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