Blue-chip accounting and auditing firm Grant Thornton has found itself following the collapse of the café chain Patisserie Valerie in the UK. Patisserie Valerie went into administration recently after a £40 million ($52.5 million) hole was uncovered in its balance sheet, allegedly caused by an internal fraud. … Continue Reading
Women may or may not be better-suited to risk management roles as compared to men as being fully equipped for the role might have more to do with skills sets, ethical judgment and plain-vanilla experience than with anything related to gender.… Continue Reading
Grant Thornton LLP and two of its partners agreed to settle SEC charges that they ignored red flags and fraud risks during audits of two publicly traded companies that wound up facing SEC enforcement actions for improper accounting and other violations.… Continue Reading
The Securities and Exchange Commission Thursday charged Grant Thornton India LLP and Australia-based Grant Thornton Audit Pty Limited with auditor independence violations.
Two Grant Thornton Mauritius partners served on the boards of Mauritius-based subsidiaries of companies that were Grant Thornton audit clients.… Continue Reading
China has chosen seven audit firms including PwC, BDO, and Grant Thornton to examine the overseas assets of major state-owned enterprises (SOEs) following an open tender held last month.
The move came after a former audit official warned that more than 110 SOEs’ overseas assets valued at about 4 trillion yuan ($637 billion) were not audited due to insufficient audit staff.… Continue Reading