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.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel