FRC fines Grant Thornton £2.34m over Patisserie Valerie audit failings

The firm’s audit engagement partner, David Newstead, was also subject to a fine of £87,750 and was issued with a three-year ban from carrying out statutory audits and signing statutory audit reports

The Financial Reporting Council (FRC) has issued a £2.34m fine against Grant Thornton UK in relation to their audit of Patisserie Holdings for the financial years 2015, 2016 and 2017.

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