Another Fraud Faces a Factoring with a Big Four: Factotal Demands Compensation of $4.118 Million From Ey

La Tercera

Lean Right

Factuality

Ownership

On March 9, Factotal, factoring controlled by the Covarrubias family, filed a claim for damages against EY Professional Audit Services and Limited Advisory Services before the 1st Civil Court of Santiago. According to the court brief, the plaintiff accuses EY of having failed to comply with its legal obligation to audit the financial statements for the year ended December 31, 2021 and maintains that the breach constitutes a “serious charge” unde…