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January 25, 2023

Patisserie Valerie

Grant Thornton Let Off the Hook Big Time By UK’s Audit Cops

Back in August 2018, Grant Thornton UK was given a £4 million fine by the Financial Reporting Council (reduced to £3 million after a settlement discount) for a then-partner’s conflict of interest in serving on the audit committees of two audit clients, in addition to “widespread and serious inadequacies in the control environment in Grant […]

Patisserie Valerie Liquidators Say Grant Thornton Doesn’t Deserve Cake

It was only a matter of time before Grant Thornton U.K. faced some sort of legal action for being the auditors of cake shop Patisserie Valerie while a massive accounting fraud was being committed right under their noses. According to the Financial Times on Jan. 8: The liquidators of Patisserie Valerie are suing Grant Thornton […]

Hiring Watch ’19: Grant Thornton U.K. Is Looking For Competent Auditors to Fill 300 Jobs

Hey, auditors! How confident are you that you wouldn’t royally screw up auditing the financial statements of a well-known U.K. cafe chain and could uncover a £94 million accounting fraud? Pretty confident, eh? Well, you couldn’t do much worse than the dolts Grant Thornton U.K. had handling the audit work on Patisserie Valerie’s accounts. While […]