Core Viewpoint - EY is facing allegations of misleading the UK's Financial Reporting Council (FRC) during its audit of NMC Health, which has led to a £2bn ($2.7bn) negligence trial against the firm [1][2]. Group 1: Allegations and Legal Proceedings - The administrators from Alvarez & Marsal claim that EY overlooked critical warning signs and failed to detect substantial undisclosed borrowing by NMC's principal shareholders during audits from 2012 to 2018 [2]. - The trial, which began in May 2025, focuses on claims that EY misrepresented its access to essential documents to the FRC [2]. - EY partners allegedly misled the regulator into believing they had full access to NMC's risky transactions, while in reality, they could only view documents on a device controlled by NMC personnel [3]. Group 2: Communication and Access Issues - The court heard that NMC staff provided various reasons for not supplying a complete download of journal entries to EY auditors [4]. - An email from one of EY's lead auditors in 2018 expressed skepticism about NMC's claimed technical barriers, indicating potential issues in communication [4]. - The administrators assert that EY did not gain full access to NMC's general ledger and failed to manage communications with NMC's banks effectively [5]. Group 3: Financial Aspects - EY received £14m ($18m) for its audit services but has denied any negligence in its work on NMC's accounts [5].