Page 32 - Patisserie Valerie Teaching Note
P. 32

Grant Thornton



                                                                Not set-up to spot

                                                                fraud






                                                                Former Patisserie Valerie

                                                                auditor, Grant Thornton, is

                                                                under investigation by the

                                                                Financial Reporting Council

                                                                and from what its chief

                                                                executive, David Dunckley

                                                                said the job of auditors
                                                                should be seen as “We are


                                                                not looking for fraud and

                                                                we are not looking at the
                                                                future and we are not

                                                                giving a statement that the

               accounts are correct.” (2)


               So! who's job is it to spot a potential fraud?


               Is it the:


                   -  part-time booker keeper who comes in twice a week,

                   -  a Director of the firm,

                   -  the Accountants that prepare the annual accounts or

                   -  the external, independent auditors?
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