Britain’s financial watchdog extends probe into EY

On Thursday, Britain’s Financial Reporting Council (FRC) stated it has added an extra year to its investigation into EY’s audit of Thomas Cook.

The holiday company had collapsed in September leaving tens of thousands of people stranded abroad.

The FRC stated it will consider EY’s audit of Thomas Cook’s financial statements for the year ended September 30 2017, thus extending its probe which it had previously said concerned the 12 months ended September 30 2018.

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