Travel Firm Sues Accountants For £7M Over Negligence
By Lucia Osborne-Crowley (December 20, 2021, 1:29 PM GMT) -- A travel company is suing its auditor for at least £7 million ($9.2 million) after it allegedly made serious mistakes when reviewing the business' financial statements, causing the loss of an acquisition deal and forcing it into a fire sale.
Ickenham Travel Group PLC has told the High Court that the auditing firm it hired, Tiffin Green Ltd., breached its duties by introducing "significant accounting and system errors" in its audits of the travel company's financial statements.
Tiffin Green's errors led to the auditors signing off accounts that had the company holding £1.6 million in assets when in fact it held £2.9 million in...
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