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.
News 27/03/26 The complaint filed by the AFM against an EY accountant has been largely upheld by the Accountants Chamber. The accountant performed insufficient work to obtain sufficient and appropriate audit evidence for the audit report on the 2019 annual accounts of Airbus.
In brief
Insufficient work on fraud risk regarding non-compliance with laws and regulations
Accountants Chamber declares disciplinary complaint largely upheld
Temporary removal from the register for three months as disciplinary measure
Purpose of disciplinary law is to maintain the accounting profession at a high level and to learn from it
Insufficient work on fraud risk regarding non-compliance with laws and regulations The accountant approved the 2019 annual accounts, while he performed insufficient work to obtain sufficient and appropriate audit evidence regarding the fraud risk of non-compliance with laws and regulations concerning 'bribery and corruption' that he identified. This is serious, because users of annual accounts – such as investors, suppliers, and stakeholders – must be able to trust the information contained therein, as it forms the basis for important financial decisions, such as investments and trading transactions.
Accountants Chamber declares disciplinary complaint largely upheld The complaint was declared largely upheld by the Accountants Chamber. By doing so, the individual concerned acted in violation of the fundamental principle of professional competence and due care. The parts of the complaint that were declared unfounded will be further examined by the AFM.
Temporary removal from the register for three months as disciplinary measure The Accountants Chamber imposes a disciplinary measure on the accountant in the form of removal from the registers for a period of three months. As a result, the accountant cannot practice his profession during that period. The AFM and the accountant may appeal the decision.
Purpose of disciplinary law is to maintain the accounting profession at a high level and to learn from it Disciplinary law is intended to maintain the quality of the practice of the accounting profession at a high level and to learn from it. It also aims to contribute to public trust in that professional practice. Users of the annual accounts must be able to trust the information in the annual accounts and the issued audit report.
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Accounting firms
More information
Accountants Chamber ruling 27 March 2026
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