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The Guardian - UK

Business

Mark Sweney

Grant Thornton fined £1.3m for ‘serious failings’ in Sports Direct audits

Grant Thornton Sports Direct FRC Financial Reporting Council Frasers

Grant Thornton London Offices on Euston Road — Grant Thornton has been severely reprimanded by the Financial Reporting Council. Photograph: Robert Evans/Alamy

Grant Thornton has been fined £1.3m for “serious failings” in basic auditing of the sportswear retailer Sports Direct, the UK accounting regulator said on Monday.

The findings relate to Grant Thornton’s audits of Sports Direct International (SDI), now called Frasers Group, in 2016 and 2018 and the work of Philip Westerman, the partner in charge of the audits.

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