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Reanda Audit & Assurance B.V.
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Reanda Audit & Assurance B.V.

Amsterdam-based audit firm that audits Nebius Group's annual accounts.

Reanda Audit & Assurance B.V. gave Nebius Group an adverse opinion on internal financial controls in its FY2025 20-F, filed 30 April 2026, while giving an unqualified opinion on the accounts themselves.

Last refreshed: 14 August 2026 · Appears in 1 active topic

Key Question

Why did Nebius's own auditor give it an adverse opinion on its financial controls?

Timeline for Reanda Audit & Assurance B.V.

#13 11 Aug

Gave an adverse opinion on Nebius's internal control over financial reporting

Data Centres: Boom and Backlash: Auditors could not count Nebius's assets
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Background

Reanda Audit & Assurance B.V. is an Amsterdam-based member firm of Reanda International and has audited Nebius Group N.V.'s annual accounts since 2024.

In the FY2025 20-F filed 30 April 2026, Reanda gave an adverse opinion on Nebius's internal control over financial reporting, having done the same for FY2024. The finding covered controls over fixed-asset depreciation start dates and asset-count reconciliation, including server and network equipment . Reanda's opinion on the financial statements themselves was unqualified: the numbers were not qualified, the process producing them was. The filing records no disagreement between Reanda and Nebius over accounting principles, disclosure or audit scope .

Nebius's board approved Reanda's dismissal in February 2026, effective once Reanda completes the FY2025 audit and the Q1 2026 review and shareholders approve a successor at the 2026 AGM. The board has so FAR only resolved to recommend Deloitte & Touche LLP to that meeting; Deloitte is nominated, not appointed.

Common Questions
What did Nebius's auditor find wrong with its accounts?
Reanda found Nebius's controls over fixed-asset depreciation start dates and asset-count reconciliation, including server and network equipment, were not operating effectively, and gave an adverse opinion on internal control over financial reporting for FY2025.Source: Nebius Group 20-F, SEC EDGAR
Who audits Nebius Group's accounts?
Reanda Audit & Assurance B.V. of Amsterdam has audited Nebius since 2024. Nebius's board approved dismissing Reanda outright in February 2026; it has only recommended Deloitte & Touche LLP as successor, pending shareholder approval and Deloitte's own client-acceptance procedures.Source: Nebius Group 6-K (12 Feb 2026), SEC EDGAR
Why is Nebius replacing its auditor?
Nebius's board resolved on 3 February 2026 to recommend Deloitte & Touche LLP, not yet appoint it; the dismissal itself takes effect once Reanda finishes the FY2025 audit and Q1 2026 review and shareholders approve a successor. The filing states there was no disagreement with Reanda over accounting principles, practices, financial statement disclosure, or audit scope or procedure.Source: Nebius Group 6-K (12 Feb 2026), SEC EDGAR
How reliable are Nebius's reported financials given the audit finding?
The auditor's opinion on the financial statements themselves was unqualified; only the internal-control process behind them, not the reported numbers, was found ineffective.Source: Nebius Group 20-F, SEC EDGAR
Source Material
Reanda | Netherlands | Reanda Audit & Assurance B.V.Nebius Group N.V. Form 6-K (12 February 2026)Nebius Group N.V. Form 20-F (FY2025)