Ending a Six-Week Search Amid Tax Demand Controversy

  • Sports Direct appoints RSM UK as new auditor
  • Ends a six-week search for a new auditor after Grant Thornton stepped down
  • Delayed publication of Sports Direct’s annual results due to £605m tax demand from Belgium authorities
  • KPMG, Deloitte, and EY declined due to conflict of interest or reluctance
  • BDO and Mazars were considered but avoided ‘Big Four’ auditor appointment

Sports Direct has appointed RSM UK Group as its new auditor, following the departure of Grant Thornton on August 13, 2019. The company faced challenges in finding a replacement due to conflicts and reluctance from ‘Big Four’ firms like KPMG, Deloitte, EY, and PWC. Mid-tier firms BDO and Mazars were considered but ultimately avoided to avoid government intervention.

Factuality Level: 8
Factuality Justification: The article provides accurate and objective information about Sports Direct appointing a new auditor, RSM UK Group, after Grant Thornton stepped down. It also explains the reasons behind Grant Thornton’s departure and the process of finding a replacement, including the involvement of other firms like KPMG, Deloitte, EY, BDO, and Mazars.
Noise Level: 3
Noise Justification: The article provides relevant information about Sports Direct’s appointment of a new auditor and the reasons behind the change. However, it lacks analysis or exploration of long-term trends or possibilities, accountability, scientific rigor, intellectual honesty, staying on topic, evidence, data, examples, actionable insights, or solutions.
Financial Relevance: Yes
Financial Markets Impacted: Sports Direct, Grant Thornton, RSM UK Group, KPMG, Deloitte, EY, PWC, BDO, Mazars
Financial Rating Justification: The article discusses the change in Sports Direct’s auditor and its impact on various accounting firms, which is related to financial reporting and corporate governance. This directly pertains to financial topics and can potentially impact the stock prices of these companies.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the text.

Reported publicly: www.retailsector.co.uk