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Grant Thornton fined over ethics breach

05 September 2018

Grant Thornton UK LLP and three senior auditors have been fired and reprimanded by the FRC over the audit of Nichols PLC and the University of Salford from 2010 and 2013.

In addition, former Grant Thornton senior partner Eric Healey has been fined and excluded from the ICAEW for five years.

The independent tribunal panel agreed to a fine for the firm of £3m (discounted from £4m). Grant Thornton will also pay £165,000 to pay all the Executive Counsel’s costs.

On top of this exclusion Healey was fined £150,000.

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