BDO has warned that it was not able to verify three-quarters of the £636m revenue reported by the fintech company in its 2021 accounts, which were signed off this week after months of delays.

Revolut was required to submit accounts for the year ending December 2021 to Companies House in September 2022. It was later given an extension until the end of December – a deadline it also failed to meet.

According to Revolut’s annual report, BDO flagged concerns that it was unable to verify £477m of revenue and that the company’s IT systems meant there was a risk that the bulk of its revenues was ‘materially misstated’.

The auditors said that they had been ‘unable to satisfy’ themselves concerning the ‘completeness and occurrence of certain revenues’ and as a result, the auditor issued Revolut with a qualified opinion.

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