Oct 23, 2019

Sports Direct appoints RSM as new auditor

Sports Direct has appointed RSM as its auditor, ending speculation that the government could be forced to intervene to find the UK sportswear retailer a group willing to vet its books. Its decision to walk away from Sports Direct just three weeks before its annual general meeting meant it became the first major listed business to fail to appoint an auditor in September, piling more scrutiny on to the corporate governance of Mike Ashley's business. RSM will start immediately, Sports Direct said in a statement on Wednesday. Deloitte advises the group on tax; EY managed the sale of House of Fraser to Sports Direct; KPMG audits JD Sports, a competitor; and PwC had a "Reluctance to engage based on our ownership structure", according to Sports Direct's annual report. Sports Direct is not the first controversial listed company that RSM has taken on.

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