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flag EY fined nearly £5M for audit failures in Thomas Cook's financial reports from 2017-2018.

flag The UK's Financial Reporting Council (FRC) fined EY nearly £5 million for serious audit failures in Thomas Cook's financial statements from 2017 and 2018. flag EY and its partner, Richard Wilson, admitted to not adequately challenging Thomas Cook's management on financial issues, leading to a lack of proper assessment of the company's financial stability. flag Thomas Cook collapsed in 2019, resulting in 9,000 job losses and the repatriation of 150,000 holidaymakers.

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