Daily Mail, 24 September 2019, Thomas Cook Small Investors’ Fury


…Cliff Weight, director of investors group Sharesoc, said it was ‘early days’ but that the body which represents small investors was looking at the role of auditors EY.

He raised concerns in July about assurances the company gave earlier in the year that its cash position was improving and it was in talks with its banks simply as a ‘proactive’ measure.

Speaking after the company collapsed with £1.7billion of debt, Weight said: ‘We are concerned at the disconnect between management rhetoric and reality, and we question the role of auditors in reviewing trading updates.

‘Gleefully optimistic messaging in the face of corporate failures is not what these announcements are intended for.’…