Investigation regarding the conduct of a Member in relation to P&O Ferries Division Holdings Limited

News types:

Published: 10 June 2026

This press notice concerns the opening of an investigation into the relevant individual. The investigation does not relate to any persons or entities other than the relevant individual and it would not be fair to treat any part of this announcement as constituting or evidencing an investigation into any other persons or entities. The opening of an investigation does not indicate that the FRC has made, or will make, any findings of Misconduct[1] by the relevant individual.

The Financial Reporting Council (FRC) has commenced an investigation under the Accountancy Scheme[2] into the conduct of a Member in relation to their engagement with, and provision of information to, the auditor of P&O Ferries Division Holdings Limited (and its subsidiaries) for the financial years ended 31 December 2020, 31 December 2021 and 31 December 2022.

The decision was made at a meeting of the FRC’s Conduct Committee on 17 February 2026.

The investigation will be conducted by the FRC’s Executive Counsel.

Footnotes

  1. [1]

    Defined terms used in this notice have the meanings given to them in the FRC’s Accountancy Scheme or the Accountancy Regulations unless otherwise stated.
  2. [2]

    The Accountancy Scheme covers Members and Member Firms of the following professional bodies for accountants: Institute of Chartered Accountants in England and Wales (ICAEW), Chartered Institute of Management Accountants (CIMA), Chartered Institute of Public Finance and Accountancy (CIPFA), Institute of Chartered Accountants in Ireland (ICAI), Association of Chartered Certified Accountants (ACCA), and Institute of Chartered Accountants of Scotland (ICAS).  Further information about the Accountancy Scheme