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Billionaire Asda co-owner Mohsin Issa has confirmed he began a relationship with a former tax partner at EY after it was revealed the firm resigned as auditor of Asda last year.
EY’s resignation is understood to have been triggered by conflict-of-interest concerns at the accounting firm after Victoria Price began a relationship with Mr Issa.
In a statement, the pair said: “Victoria and Mohsin are highly private people who are in a relationship and building a life together. They ask that the privacy of themselves and their respective families is respected going forward.”
The statement also noted that Price was not an audit partner at EY, and has never worked on Asda business. EY have confirmed to her that she met all her obligations and made all appropriate disclosures to the firm’s ethics and compliance teams throughout her career.
Price had been working at big-four accounting firm EY since September 2006, latterly as a partner heading up its EMEIA private tax unit.
EY’s resignation marks the second time a big-four firm resigned as auditors for the Mohsin and his brother Zuber Issa last year after KPMG quit as Leon auditor.
EY’s resignation and the relationship were first reported last week in the Telegraph.
The Issa brothers, alongside American private equity fund TDR, bought Asda in 2021 after making billions through a petrol forecourt empire. Last year, the pair merged Asda with their EG Group petrol forecourt business. MPs have questioned the debt-heavy nature of the deal to buy Asda, and the complicated ownership structure of the businesses.
More to follow
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