FRC Opens Thomas Cook Enquiry - the poison at the heart of auditor client relationship
By Tom Winnifrith, The Sheriff of AIM | Tuesday 1 October 2019
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The Financial Reporting Council has announced that it is to open an enquiry into the accounts of Thomas Cook (TCG) for the year ended 30 September 2018. Too little too late you say. Well perhaps, but what is at stake here is the poison at the heart of capitalism, the incestuous relationship between auditors and PLCs.
Premium content is for paid subscribers only
ShareProphets is reader-supported journalism
Become a member starting at £6.99 per month for all articles, the Bearcast, and our seven year archive.