UK watchdog slaps EY with €4m audit fine 

EY's fine was cut to £2.2m for admitting to the failings.

Britain's accounting watchdog has fined EY £3.5m (€4.1m) for failing to challenge financial statements in its audit of transport group Stagecoach in 2017.

The UK’s Financial Reporting Council (FRC) said Mark Harvey, the auditing engagement partner, had also been sanctioned and fined £100,000.