FRC Begins Probe Into Grant Thornton Audits Of Outsourcer

Law360, London (April 11, 2019, 12:30 PM BST) -- The accounting watchdog announced Thursday it is investigating audits of outsourcing company Interserve PLC carried out by Grant Thornton UK LLP after the company collapsed into administration in March.

The Financial Reporting Council says it is probing Grant Thornton's audits of financial statements for an outsourcing company that supplies large government projects. (AP) The Financial Reporting Council said it is probing audits of Interserve’s financial statements from 2015, 2016 and 2017. The company — which supplies major government infrastructure projects including prisons and schools — fell into administration in March after shareholders rejected a rescue deal.

The FRC said the investigation...

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