Grant Thornton faces probe into auditing independence

The FRC has launched an investigation under the Accountancy Scheme into whether Grant Thornton was independent when it conducted the audits of Nichols' financial statements for the years ended 31 December 2011 and 2012. Grant Thornton said in a statement: "We acknowledge the Financial Reporting Council's (FRC) statement today regarding their investigation. "The FRC and Grant Thornton have a common interest in promoting good corporate governance and reporting standards. "We shall, of course, fully cooperate with any investigation. As a firm, we continue to strive to deliver quality ...