The auditors of Christmas savings club Farepak, which collapsed seven years ago, have been ordered to pay more than £1m in fines and costs. The company, which was based in Swindon, Wiltshire, went into administration in 2006 leaving 116,000 people with total losses of £37m. The Financial Reporting Council (FRC) has fined Ernst and Young £750,000 and told them to pay costs of £425,000....Read more here

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