Basic Search  |  Summaries  |  Advanced SearchPenalty: £2,475,000
Year: 2017
Date: 24 April, 2017
Offence Group: financial offences
Offence Type: accounting fraud or deficiencies
Violation Description: Grant Thornton UK LLP and one of its retired partners admitted Misconduct and agreed to fines and other sanctions. This followed the conclusion of the Financial Reporting Council's investigation relating to the audits of the financial statements of the AIM listed company AssetCo plc for the financial years ended 31 March 2009 and 31 March 2010. Grant Thornton received a Severe Reprimand and was required to pay a fine of £3,500,000 (reduced to £2,275,000 after settlement discount) and £200,000 as a contribution to the Executive Counsel's costs.
Action Type: agency action
Agency: Financial Reporting Council
HQ Country of Parent: United States
Ownership Structure of Parent: privately held
Major Industry of Parent: business services
Specific Industry of Parent: accounting services
Source of Data: (click here)