Britain’s accounting watchdog FRC examining Ernst and Young’s audit of Thomas Cook

The development signals a growing move by Britain’s financial watchdog to scrutinize audits conducted by the Big Four accounting firms.

Following a collapse of travel giant Thomas Cook, Britain’s Financial Reporting Council has begun an investigation into the travel company’s auditors Ernst and Young (EY).

Last month the travel company collapsed leaving tens of thousands of holiday-makers stranded abroad.

On Tuesday, the FRC stated, it was examining the audit of EY, part of the “Big Four” accounting firm, which certified the financial statements of Thomas Cook.

The period of scrutiny by the FRC is for the year to Sept. 30, 2018.



Categories: Creativity, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy

Tags: , , , , , , , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: