Revolut not happy with how fintech deals with audit red flags: Report
Revolut reportedly issued a public statement and hired lawyers in March in order to prove “misreporting” of the audit opinion by BDO. Crypto-friendly fintech Revolut is reportedly having some issues related to its recently released annual report for the year ending December 2021. Revolut, a British-Lithuanian neobank that allows customers to buy and sell crypto, reported its first-ever full year of profit on March 1, 2023. The firm said it generated a revenue of 636 million British pounds ($769 million) in 2021, which was a significant surge from 220 million pounds ($266 million) in 2020. The financial Report was reviewed by independent audit ors from the global accounting network BDO, which confirmed that Revolut’s financial statements provided a “fair view of the state of the group’s and of the parent company’s affairs” as of Dec. 31. The audit ors stressed that the Report was correct “except for the possible effects of the matters described in the basis for the qualified opinion s...