The UK’s Financial Reporting Council (FRC) has commenced an investigation into the audit by EY of the financial statements of Thomas Cook Group Plc (Thomas Cook) for the year ended 30 September 2018.
The investigation will be conducted by the FRC’s Enforcement Division under the Audit Enforcement Procedure.
The FRC will keep under close review both the scope of this investigation and the question of whether to open any other investigation in relation to Thomas Cook, liaising with other relevant regulators to the fullest extent permissible.