UPDATE: Sports Direct auditor Grant Thornton resigns

Writer, Stock Market Wire
Wednesday, August 14, 2019 - 15:00

Sports apparel and equipment retailer Sports Direct said that Grant Thornton had resigned as its auditor.

Sports Direct said that Grant Thornton had made the decision subsequent to the publication of Sports Direct's annual accounts and following 'a review of its client portfolio'.

Grant Thornton would cease to hold office as auditor effective from 11 September, being the date of Sports Direct's annual general meeting.

In a subsequent joint announcement on Wednesday, the two companies said that Grant Thornton was reviewing its client portfolio due to audit profitability and increased regulatory scrutiny, among other reasons.

The decision to resign had also come in light of Sports Direct's previously-indicated intention to appoint a 'big four' auditor in the future.

'The board of Sports Direct are comfortable with Sports Direct's accounts for the period ended 28 April 2019 and believe a fully robust audit was carried out of Sports Directo's financial statements,' the joint statement said.

At 3:00pm: (LON:SPD) Sports Direct International PLC share price was -14.1p at 215.7p


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