U.K. Accounting Watchdog Probing EY’s NMC Health Audit

The U.K.’s accounting watchdog is investigating Ernst and Young LLP’s audit of NMC Health Plc, the hospital administrator that collapsed into administration in April.

“On 15 April 2020 the Financial Reporting Council opened an investigation into the audit by Ernst and Young LLP of the financial statements of NMC Health for the year ended 31 December 2018,” the FRC said in a statement Monday. NMC’s shares were suspended on the London Stock Exchange in February after the company said that its debts totaled $6.6 billion, three times previous estimates.

• In a statement, EY ...