UK
Grant Thornton hit with £40,000 fine by UK audit watchdog
Firm failed to comply with regulatory frameworks in the audit of a local authority pension fund
Grant Thornton has been hit with a £40,000 (€46,636) fine by the UK's audit watchdog after the firm failed to comply with regulatory frameworks in the audit of a local authority pension fund.
The Financial Reporting Council (FRC) said failures in the audit, for the year ended March 31 2021, "represented a significant departure from the standards expected of a Registered Auditor and had the potential to affect the public, employees, pensioners or creditors".
Grant ...
