Revolut, a digital bank that allows customers to buy and sell cryptocurrency, reported a profit for the year ending December 2021. The financial report was reviewed by BDO, a global accounting network, who confirmed that Revolut’s financial statements were correct “except for the possible effects of the matters described in the basis for the qualified opinion section” of the report.
However, Revolut reportedly hired lawyers in March to prove the “misreporting” of the audit opinion by BDO, insisting on the validity of its annual report. Sources cited by the Financial Times claimed that Revolut’s true revenues could either be higher or lower than stated in the report due to some transactions potentially being missing.
