Grant Thornton UK LLP is under investigation by the Financial Reporting Council (FRC) for the accounting and audit of interest rate swap arrangements of the Manchester Building Society.
This is the second investigation recently announced by the FRC into GT. Earlier in the week, it announced it would look into the firm’s audit of drinks group Nichols PLC.
Both investigations are taking place under the Council’s Accountancy Scheme and followed consultation with the ICAEW.
This most recent investigation specifically focusses on GT’s accounting and auditing of...