The move could lead to MyTravel being forced to restate its accounts after it was issued three profit warnings in the last five months.
The FRRP will investigate whether the company’s accounts comply with the 1985 Companies Act and UK accounting standards. Any irregularities spotted could lead to a more detailed inquiry into the company’s finances.
MyTravel is due to publish its full-year accounts on 26 November but this may be delayed as auditors Deloitte & Touche may not sign the financial statement off until the company secures an extension to a £250m credit facility that expires in March, according to the Financial Times.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements