Grant Thornton in trouble again as second probe announced

The investigation, begun under the Accountancy Scheme, is into the accounting and auditing of interest rate swap arrangements which gave rise to a prior period adjustment in the Manchester Building Society's financial statements for the year ended 31 December 2012. The decision to investigate follows information received from the Prudential Regulation Authority in relation to the conduct of the auditors at the time, Grant Thornton. Today's announcement follows one yesterday from the FRC that it is investigating Grant Thornton as auditors of Vimto maker Nichols, into whether Grant Thor...