The Financial Reporting Council (FRC) has launched an investigation into the audit of online furniture retailer Made.com by Ernst & Young LLP.
The investigation relates to the consolidated financial statements of Made.com Group plc for the year ended 31 December 2021.
In a brief statement, the FRC said: āThe decision was made at a meeting of the FRCās Conduct Committee on 20 March 2023.
āThe investigation will be conducted by the FRCās Enforcement Division under the Audit Enforcement Procedure.
āThe investigation relates to a breach of the fee cap requirements set out in the FRCās Revised Ethical Standard 2019.ā