Grant Thornton UK fined £2.3m for Patisserie Valerie audit missesAccountants also appeared to have difficulty obtaining basic information from bank statements. In one case, nearly three-quarters of the group’s entire annual revenue was received in one payment from a third party company. Large cash receipts from traders called Market Pete and Browm [sic] Bread should also have raised red flags but didn’t.
Grant Thornton UK fined £2.3m for Patisserie Valerie audit misses
The UK’s accounting watchdog has imposed sanctions against Grant Thornton Ltd and a partner at the firm over alleged accounting fraud at the Patisserie Valerie bakery chain.
Grant Thornton fined £2.3m for Patisserie Valerie failures
The accounting firm has been penalised for 'lack of competence' in its audits of the cafe chain. Plus read our analysis of what went wrong