One-Off Costs: Directors and Costs

one-off costs: This may have boosted directors' bonuses as they were calculated based on annual earnings after the extra costs were stripped out, according to The Independent. Both accountancy watchdog the Financial Reporting Council FRC and Thomas Cook's auditors, EY, had urged the tour operator to overhaul its approach towards one-off costs. Experts suggested routine costs were recorded as 'exceptional' items. Consumer group Fairer Finance called for criminal charges to be brought if directors are found to have misrepresented the company's finances to boost their bonuses. Last night, the travel operator's directors were also facing an inquiry by MPs into their pay and conduct. The FRC became the latest body to consider launching an investigation. (news.financializer.com). As reported in the news.