Grant Thornton wins Harrods audit
Mid-tier firm Grant Thornton has won the audit contract for luxury department story Harrods after PricewaterhouseCoopers stepped down.
The win for Grant Thornton signifies its biggest audit contract as the Big Five firms struggle to restore confidence in their audits following the collapse of Enron.
The reasons for PwC’s resignation remain unclear though a Harrods spokesman is reported as saying that it came about by ‘mutual agreement’.
A spokesman for PwC said the auditor had resigned from Harrods but was unable to comment further.
PwC will however have to file a report with Companies House explaining why it resigned.