The FRC said Grant Thornton’s audits during 2015, 2016 and 2017 missed ‘red flags’ and involved a failure to stand back and challenge management

Accountancy firm Grant Thornton’s UK business has been fined for its audit of Patisserie Valerie, the British cafe chain that collapsed in 2018, throw(...)

Grant Thornton’s audits of Patisserie Valerie over the three years before the collapse are also under investigation by regulators at the Financial Reporting Council (FRC). Photograph: iStock

The liquidators of Patisserie Valerie are suing Grant Thornton in Britain for £200 million (€221 million) over alleged negligence in its audits of the(...)

Grant Thornton has parted ways with a dozen UK partners in a restructuring designed to reverse a five-year financial decline.

Grant Thornton has parted ways with a dozen UK partners in a restructuring designed to reverse a five-year financial decline. The accounting firm inf(...)

Sports Direct founder Mike Ashley has expanded his empire with a flurry of deals, from House of Fraser and a disastrous investment in Debenhams to Evans Cycles, Sofa.com and Game Digital. Photograph: Joe Giddens/PA Wire

It’s hard to shake off the feeling that Mike Ashley’s Sports Direct empire is finally careering out of control, derailed by a bewildering stream of il(...)

Between them KPMG, PricewaterhouseCoopers, Deloitte and EY control more than 90 per cent of UK audits for large companies.

The “Big Four” accounting firms should be forced to legally separate their “cash cow” consulting work from their auditing businesses, a UK Parliament (...)

Debenhams said: “The board has been engaging with Sports Direct and our other stakeholders and is disappointed that Sports Direct has taken this action.” Photograph: Reuters

Sports Direct boss Mike Ashley is attempting a coup at Debenhams to appoint himself to the board in an executive role and oust nearly all the other di(...)

Patisserie Valerie’s Henry street outlet in Dublin. Photograph: Peter Hamilton

Patisserie Valerie’s two Dublin outlets will likely cease trading as part of a company-wide administration which follows on from “significant fraud” a(...)

The UK Financial Reporting Council said it was looking into the audits by Grant Thornton of the financial statements of Patisserie Holdings for  2015, 2016 and 2017. Photograph: Reuters

The UK’s accountancy watchdog said on Wednesday it had begun an investigation into the audits of cafe chain Patisserie Valerie, which came close to co(...)

A branch of Patisserie Valerie in London. Photograph:  Reuters/Simon Dawson

British cafe chain owner Patisserie Holdings said its chief executive Paul May had stepped down immediately, a second resignation after its chief fina(...)

Patisserie Valerie on Dublin’s Henry Street. Photograph: Nick Bradshaw

Patisserie Holdings’ plan to issue £15 million (€17 million) worth of new shares was supported by nearly all investors who voted at an emergency gener(...)

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