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Total penalties on UK auditors drop by over two-thirds in 2024/25

( July 24, 2025, 09:02 GMT | Official Statement) -- MLex Summary: The UK’s audit watchdog concluded 11 enforcement investigations in the last financial year, resulting in sanctions imposed in nine investigations, four of which involved auditor EY — including two related to travel group Thomas Cook. In its annual enforcement review, the Financial Reporting Council said financial sanctions imposed last year totaled 9.7 million pounds, down from 33.1 million pounds the previous year and 28.5 million pounds the year before that. The FRC opened eight new investigations. The watchdog will consult later this year on changes to its enforcement process.  Report attached. ...

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