FRC launches investigation into Thomas Cook auditing & more…Keep up to date with the latest accountancy news in our weekly round-up…

Deloitte was too close to Autonomy , regulators claim

Deloitte auditors had a “oneness” with Autonomy executives including founder Mike Lynch that led to a misleading picture of the technology group’s financial position, regulators have claimed.

BDO profits jump as partners enjoy pay rise

BDO has reported a double-digit rise in profit and revenue for the last 12 months, as the accountancy giant ramped up the pressure on tis larger under-fire Big Four rivals. BDO’s managing partner Paul Eagland told City A.M.: “It’s been a landmark year…if we had set out three years ago to achieve what we achieved this year, this would have been our dream outcome”.

FRC launches investigation into EY’s Thomas Cook auditing

Following the collapse of Thomas Cook, the regulatory body has launched an investigation into EY’s auditing practices within the travel company for the year ending 30 September 2018.

PwC earns record revenues, opposes market caps in UK

PwC earned $42.4 billion in global annual revenues with $3 billion going into bolstering skills over the next two years.