In December 2017, Grant Thornton signed a five-year marketing partnership deal with the PGA Tour and replaced Pricewaterhouse Coopers as the 'Player's Partner'. Kentucky State Court ordered Grant Thornton to pay $20 million in compensatory damages and $80 million in punitive damage. There was a 90% chance the IRS would reject the shelter. The firm hid real information from its clients and sold a tax shelter to them. In April 2012, Grant Thornton was accused by its client Bill Yung and his family.In its response letter, the firm wrote 'We strongly disagree with the use of overly broad comments such as ‘failed to identify’, ‘failed to perform,’'. Grant Thornton responded to the PCAOB’s criticism on June 4, 2007. In the PCAOB’s report, the Board concluded that the firm didn’t have enough evidence to support its audit opinions. Several audit deficiencies in the firm’s audit work at eight companies were found by Public Company Oversight Board when it was doing the inspection of Grant Thornton‘s 2005 audit.
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