Sports Direct implore big 4 accountants to take on auditor role

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Sports Direct is imploring the big four accountants to pitch for its audit contract, according to a report from Sky News, after stating that smaller firms would not be able to take on the role, due to the company’s size and complexity.

The retailer has returned to Deloitte, EY, KPMG, and PwC, “pleading” for one of the firms to get on board, though a conflict of interest has already been noted with the former two firms, with Deloitte have previously completed advisory and tax work for Sports Direct, while EY acted as administrator of House of Fraser, which the retailer acquired last year.

According to Sky News, if the Shirebrook-based business fails to replace previous auditor Grant Thornton, which resigned in August even though Sports Direct had intended to continue with the firm, it may lead to business secretary Andrea Leadsom organising the appointment of a new auditor.

The scramble to find an auditor comes ahead of the firm’s AGM today.