By Grace Bowden2019-07-30T06:31:00
Sports Direct’s auditor Grant Thornton told regulators that it intended to quit due to concerns regarding the disclosure of the retailer’s 11th hour Belgian tax bill.
Grant Thornton, which has audited the sporting goods retailer since its 2007 stock market flotation, will resign after the retailer’s annual general meeting in September.
According to the Financial Times, it decided to step down from auditing Sports Direct, one of its most significant clients, after the retailer failed to inform Grant Thornton of a €674m (£618m) tax liability until hours before it was due to sign off its annual accounts.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.