Witnesses from PwC and EY were questioned at a hearing of Parliament’s Business, Energy and Industrial Strategy select committee on 22 October.
During the inquiry, both firms have defended their financial scrutiny of Cook and challenges to the board in the years leading up to the company’s collapse on 23 September.
This includes an EY decision to leave £2.5 billion in goodwill from a 2007 MyTravel merger in its 2018 accounts, only to write off £1.1 billion of that the following May, and PwC’s dual role in advising Cook on non-audit matters.
PwC audited Thomas Cook between 2007 and 2016 and EY from that point until the collapse.
