GT resigns Quarto audit over conflict of issue

DELOITTE has scooped the audit account of international publishing group Quarto from incumbent firm Grant Thornton following a conflict of interest issue.

Quarto’s directors announced the move to the stock market following the emergence of a conflict of interest between a director at the publisher and Grant Thornton “in relation to another company where he is a director”.

Grant Thornton decided to resign the audit. Deloitte duly took over with immediate effect.

Quarto’s last annual report showed the auditor received $384,000 (£245,000) in 2013.

Founded in 1976, the London-headquarted Quarto Group employs 400 staff.

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