EY warned NMC Health over bank dis­crep­an­cies

The Daily Telegraph - Business - - Business -

Au­di­tors at EY raised red flags about short­com­ings in NMC Health’s fi­nan­cial con­trols a year be­fore it went bust af­ter more than $4bn (£3.2bn) in debt was un­cov­ered. EY ini­tially be­lieved that £220m worth of loans and over­drafts was omit­ted from the bal­ance sheet be­fore it dis­cov­ered that Bank of Bar­oda had con­fused NMC ac­counts with those of founder BR Shetty, the FT re­ported.

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