Grant Thornton

FRC fines Grant Thornton £2.3m for Patisserie Valerie audits

The Financial Reporting Council (FRC) has fined accountancy firm Grant Thornton more than £2.3 million for failings and a 'serious lack of competence' in its audits of restaurant chain Patisserie Valerie.

Published 27 September 2021

Grant Thornton: Flood of HMRC fraud enquiries expected as furlough finishes

Scottish businesses should prepare for a flood of letters from HMRC as furlough draws to a close and the UK Government looks to recoup a suspected £7 billion of fraudulent or erroneous Coronavirus Job Retention Scheme (CJRS) claims, according to business advisers Grant Thornton.

Published 10 September 2021

Grant Thornton: ‘Code red’ for ESG business impact in Scotland

Scottish businesses face increasing pressure to address environmental, social and governance (ESG) issues but their good intentions in meeting the challenges need to be backed with more robust planning and better reporting, according to a new report by Grant Thornton.

Published 23 August 2021

Grant Thornton appoints Jill Hay as partner

Financial advisory firm Grant Thornton has appointed Jill Hay as a tax partner within its Scottish practice.

Published 19 August 2021

UK audit shake-up plans face setback as small firms consider rejecting proposal to share FTSE 100 work

The UK Government’s plans to shake up the accountancy sector are facing a significant setback, as smaller firms consider snubbing reforms that would see them share FTSE 100 work with the Big Four companies.

Published 26 May 2021

Grant Thornton sees sharp rise in audit profits

Grant Thornton has seen a sharp increase in profit within its audit division after the firm invested £17 million in 2019 to improve the quality of its audit work.

Published 8 April 2021

Grant Thornton: More than a third of mid-market businesses not ready for IR35 deadline

With just under three weeks to go until the IR35 deadline on 6 April, new research from business and financial adviser Grant Thornton UK LLP has found that over one in three (38%) mid-sized businesses are not ready for the transition.

Published 19 March 2021

Scottish firms call for support for international trade and low carbon transformation ahead of budget

More support for international trade and low carbon business strategies are two of the main asks from mid-market business leaders in Scotland, according to a survey carried out by advisory firm Grant Thornton in the days following Holyrood’s budget. 

Published 23 February 2021

Grant Thornton: One in three SMEs planning to reduce office space

More than one in three SMEs (39%) are planning to reduce the size of their office requirements in the months ahead, according to Grant Thornton’s International Business Report.

Published 9 February 2021

FRP sues Grant Thornton for £200m over Patisserie Valerie collapse

FRP Advisory, the liquidators of Patisserie Valerie, has launched a £200 million legal claim against the cake chain's auditor Grant Thornton.

Published 8 January 2021

Scottish mid-market businesses 'bullish' about Brexit

Scottish mid-market business leaders are bullish about the impact of Brexit, according to new research from business and financial adviser Grant Thornton UK LLP.

Published 17 December 2020

Grant Thornton audits fall short of FRC standards

The Financial Reporting Council (FRC) has criticised Grant Thornton after its Audit Quality Inspection revealed five out of six of the firm's local audits fell below the expected standard.

Published 30 October 2020

Grant Thornton: HMRC ramps up investigation of job retention scheme claims

Employers in Scotland who may have wrongly claimed support from the Coronavirus Job Retention Scheme (CJRS) are being warned to act now to avoid significant penalties from HM Revenue & Customs (HMRC).

Published 9 October 2020

Grant Thornton ends landmark Assetco legal battle with a bill of £29m

Accountancy firm Grant Thornton has ended a long-running legal battle over its failure to expose a fraud at a former client, AssetCo, leaving it facing a bill of £28.6 million.

Published 5 October 2020

Debbie Mayor: Resilience and agility will be key to COVID-19 recovery

Debbie Mayor, director at accountants and business advisers Grant Thornton, reveals why businesses must adopt a similar approach to that taken by Holyrood policymakers in easing lockdown restrictions.

Published 11 August 2020