Revolut’s Findings Were Postponed Until Early 2023

The fintech is battling increased auditor scrutiny. Revolut’s much anticipated 2021 accounts have been completed, but the fintech will miss its deadline to distribute them on December 31.

The firm will publish its past-due accounts “in the new year.”

Nine months after the end of the fiscal year, HMRC required that business accounts be posted on Companies House; however, Revolut missed the first deadline of September 2022 and had the deadline extended to December 31, a deadline that it will now again miss.

The Financial Times reported earlier this year that the UK regulator had criticized accountancy firm BDO’s prior audits of Revolut’s files as “inadequate,” prompting additional scrutiny of the company’s 2021 financial results.

Revolut’s CEO Nikolay Storonsky has been calling the company “profitable” since September, citing its upcoming 2021 accounts. However, we have not seen the precise numbers that Storonsky is referring to.

A company spokesperson said: “Our accounts are finalized, and we expect to confirm the previously reported news that we are profitable. We are very proud of this and intend to file the accounts in the new year.”