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Evening Standard
Evening Standard
Business
Bradley Gerrard

Regulator issues £2m fine to Grant Thornton over Sports Direct audits

Grant Thornton Sports Direct FRC Frasers Group

The UK’s auditors will be overseen by a new regulator (Dominic Lipinski/PA)

(Picture: PA Archive)

Regulators have handed down more than £2.1 million in fines to Grant Thornton and one of its auditors over “serious failings” linked to oversight of Sports Direct International’s accounts.

The Financial Reporting Council (FRC) fined Grant Thornton a total of £2.05 million for poor oversight of the 2016 and 2018 audit, although this was reduced to just over £1.3 million due to mitigating factors, including early admissions of errors by the firm.

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