Oct 20, 2019

PwC accused of conflict over dual role at Thomas Cook

PwC has been accused of a conflict of interest for advising senior executives at Thomas Cook on their pay and bonuses while it was the auditor of the now-collapsed travel group. Executives at PwC and EY will be grilled by MPs over their work for Thomas Cook on Tuesday. PwC earned £4m providing "Recruitment and remuneration" advice to Thomas Cook between 2007 and 2012, its accounts show. "PwC held this dual role because prior to the merger they had acted as remuneration adviser to MyTravel Group and auditor to Thomas Cook," it stated in the accounts. EY is being investigated by the Financial Reporting Council over its 2018 audit of Thomas Cook.

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