The UK Financial Reporting Council (FRC) is to pursue an investigation of Grant Thornton UK’s preparation, approval and audit of the financial statements of AssetCo, a management and resources provider to the fire and emergency services in the Middle East.
The FRC will look at Grant Thornton UK’s audits of AssetCo. for the years ended 31 March 2008 to 31 March 2010.
A Grant Thornton UK spokesperson said: "I can confirm we have received a letter from the Financial Reporting Council informing us of its decision to commence an investigation, and we will, of course, fully cooperate in this matter."
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