The revelation raises concerns about conflicts of interest for Grant Thornton over Greensill, which collapsed in March and has morphed into a corporate and political scandal. GAM’s management in late 2017 hired law firm Bryan Cave Leighton Paisner to review the whistleblower allegations, with Grant Thornton brought in to conduct forensic audit work. Grant Thornton was also engaged as a forensic auditor on a parallel probe, which examined how Greensill obtained shares in a GAM-managed supply chain finance fund. Grant Thornton had previously worked for Greensill as an auditor of at least two entities. Grant Thornton also revalued assets that GFG bought from Rio Tinto for £330 million in 2016 upwards to £565 million.

Source: The Irish Times May 18, 2021 03:56 UTC