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Saturday 19 October 2019

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Payments Awards 2019

Grant Thornton to quit as Sports Direct auditor: reports

Written by Hannah McGrath
30/07/2019

Grant Thornton is reportedly set to quit as auditor of Sports Direct International.

According to reports in the Financial Times, the auditing firm has told regulators of its plans to step aside after Sports Direct revealed a £605 million tax bill from the Belgian authorities, as it published its long-awaited full year results on Friday.

Grant Thornton, which had audited Sports Direct since 2007, has apparently told the Financial Reporting Council (FRC) of the plan to step down.

Grant Thornton declined to comment on the report and Sports Direct International has yet to respond to requests for comment on the story.

Following the announcement of the full year accounts on Friday, Sports Direct’s chief financial officer Jon Kempster said he was resigning, “to pursue other interests” after two years with the retail group.

He will be replaced with deputy finance chief Chris Wootton following the AGM in September.


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