The fine comes just over a month after the FRC issued another sanction, of £2.3m, on the accounting giant for a “serious lack of competence” in the company’s audit of high-street café chain Patisserie Valerie.
The FRC said the fine against
Similarly, the FRC reduced the sanction against
There was “significant public interest” in the audit of
The accounting company was also issued a “Severe Reprimand” by the FRC.
Grant Thornton’s sanction came as a result of findings by the FRC of “serious evidence and scepticism failings by the auditors in respect of key judgements and accounting estimates”.
The lead of the
“Whilst we acknowledge the regulator’s findings that certain limited aspects of our work were below expectations in this instance, it’s important to note that the findings did not assert that the company’s accounts were materially misstated in respect of these matters,” a
“We are pleased to now conclude this matter,” the spokesperson added.
The post
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