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Frances Ball 23 Aug 2019 11:18am

Sports Direct eyes MHA Macintyre Hudson as next auditor

Sports Direct is reportedly in early talks with MHA Macintyre Hudson to be its next auditor, after Grant Thornton quit

Grant Thornton resigned as auditor for Mike Ashley’s troubled sports retailer last week, although neither party elaborated on the reasons behind the move.

Very shortly before Grant Thornton had been due to sign off the company’s accounts, Sports Direct revealed a £616m tax bill from Belgian authorities.

MHA Macintyre Hudson is now in talks to replace Grant Thornton, according to the Evening Standard. A series of smaller firms will compete in the tender process, after every Big Four firm said that they would be conflicted.

BDO is understood to have turned down the audit.

MHA Macintyre Hudson chairman, Rakesh Shaunak, confirmed that the firm was in early talks. “We have had initial conversations not with Mike Ashley but his emissaries. We expect to take part in the tendering process, although we want to know the full reasons why Grant Thornton quit,” he told the Evening Standard.

Recently, MHA Macintyre Hudson took on the audit work for Ferrexpo, a Swiss-based mining company from which Deloitte resigned over “unexplained discrepancies” in its charity fund.

MHA Macintyre Hudson has been contacted for further comment.

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