Sunday, April 27, 2025

Financial Reporting Council commences investigation into audit of Joules

Finance
Updated:

The Financial Reporting Council (FRC) has commenced an investigation into Deloitte’s audit of the financial statements of lifestyle group Joules for the year ended 30 May 2021.

The investigation will be conducted by the FRC’s Enforcement Division under the Audit Enforcement Procedure.

Interpath Advisory were appointed joint administrators of Market Harborough-based Joules on 16 November 2022, with company rescued by Next and Joules founder Tom Joule in December, saving 100 Joules stores and approximately 1,450 jobs.

A spokesperson for Deloitte UK said the company will co-operate fully with the investigation.

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