Grant Thornton Hit With £20M Negligence Ruling Over Audit

Law360, London (January 31, 2019, 3:52 PM GMT) -- Grant Thornton UK LLP was negligent when it failed to detect serious misconduct and false statements submitted by the senior managers of a fire engine provider it was auditing in 2009, a judge in London ruled Thursday.

AssetCo PLC, which provides fire engines and rescue services to London Fire Brigade, has been awarded more than £20 million ($26.2 million) in damages following its successful claim for negligence against Grant Thornton, which acted as the company’s auditor in 2009 and 2010.

Judge Simon Bryan at the High Court found in favor of AssetCo’s argument that the misconduct would have come to light...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Read the full article

Already a subscriber? Click here to login

Related Sections

Law Firms

Companies

Government Agencies