Closure of investigation under the Accountancy Scheme

News types: Generic Announcement

Published: 17 March 2023

The Financial Reporting Council (FRC) today announces the closure of its Accountancy Scheme investigation in relation to the preparation and approval of the financial statements of Sports Direct International plc (“SDI”) for the 52 week period ended 24 April 2016.

Having considered the representations provided, the Executive Counsel has decided in the circumstances of this case that the test for bringing enforcement action is not met. Accordingly, the case has been closed. SDI was not the subject of the FRC’s investigation.

Under the Accountancy Scheme, the FRC may investigate Accountancy Scheme Members and Member Firms.

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