Revolut auditor flags concerns about $576 million of revenues in long-delayed accounts
LONDON (Reuters) - Revolut Ltd auditor BDO LLP has flagged concerns about the "completeness and occurrence" of 477 million pounds ($576 million) of revenues in the firm's 2021 accounts, its annual financial report showed.
"We were unable to satisfy ourselves concerning the completeness and occurrence of certain revenues for the year ended 31 December 2021," BDO said.
A spokesperson for Revolut said the bank's overall revenue figure "was not in question" and BDO's concerns were "remedied in 2021".
"We do not foresee that our 2022 accounts would reflect this limitation," the spokesperson added.
Revenues at the company increased to more than 850 million pounds in 2022 on the back of a boost in payments, subscriptions and business accounts.
The company signed off on its 2021 annual accounts this week following months of delays, after replacing its internal accounting systems, the firm told Reuters.
($1 = 0.8285 pounds)
(Reporting by Stefania Spezzati, editing by Sinead Cruise)