GT and Deloittes fined by ICAEW

The complaint resulted from advice the firm gave in 1993 to a company to implement a reorganisation, which involved transferring three subsidiaries into one trading entity.

Grant Thornton was reprimanded and ordered to pay £1,000 costs.

Separately, Deloitte & Touche has been fined £10,500 and reprimanded by the investigation committee after it failed to report under Section 48(1) of the Pensions Act 1995 that the trustees of pension schemes audited by the firm had not obtained audited accounts within seven months of the year-end.

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