EY fined and reprimanded for deficient Thomas Cook work

The travel group’s collapse in 2019 resulted in job losses, closure of stores and repatriation of 140,000 travellers.

Audit quality is in the spotlight again with the UK’s Financial Reporting Council (FRC) zeroing in on Ernst & Young’s (EY) audit of the Thomas Cook Group (TC Group) in 2017 and 2018.

At the heart of the matter was the failure by the firm’s audit team and statutory auditor to

Free Trial

Register for free to keep reading.

To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.

  • Unlimited access to industry insights
  • Stay on top of key rules and regulatory changes with our Rules Navigator
  • Ad-free experience with no distractions
  • Regular podcasts from trusted external experts
  • Fresh compliance and regulatory content every day
Register for free Already a member? Sign in