- The UK's Financial Reporting Council said it had commenced an investigation into the audit by EY of the financial statements of collapsed travel company Thomas Cook.

The investigation would be conducted into the company's accounts for the year ended 30 September 2018.

It would be conducted by the Financial Reporting Council's, or FRC's, enforcement division.

'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,' the FRC said.

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