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Tue November 28 2023

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FRC investigates Interserve audits

12 Apr 19 The Financial Reporting Council (FRC) has opened an investigation into the auditing of Interserve’s accounts.

The City watchdog’s investigation is into the audit conducted by Grant Thornton UK of Interserve’s financial statements for 2015, 2016 and 2017.

The investigation will be conducted under the audit enforcement procedure.

The FRC’s role is to promote transparency and integrity in business. It sets the UK corporate governance and stewardship codes and UK standards for accounting and actuarial work, and it polices corporate reporting.

Last month Interserve was put into administration, delisted from the London Stock Exchange and taken over by the banks to which it owed money but was unable to repay.

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