The administrators of NMC Health, Alvarez & Marsal, are suing EY over audit failures related to the collapsed healthcare provider, which was listed on the FTSE 100 and went into administration in 2020.  

Now the long-awaited case is being heard in the High Court in London.

The legal claim, filed by Alvarez & Marsal in May 2022, alleged that EY had failed to spot that its client’s accounts were fraudulently misstated and that NMC did not keep proper accounting records.

At the opening day at the High Court, barrister Simon Salzedo KC, for Alvarez & Marsal claimed that ‘EY’s errors were so basic and shocking’, alleging that the firm’s audits ‘fell very far below the standards expected of a reasonably competent auditor’.

EY has al