UK watchdog fines Grant Thornton for audit breaches
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LONDON (Reuters) - Britain's accounting watchdog, the Financial Reporting Council, fined accountants Grant Thornton 650,000 pounds ($833,950) on Tuesday for errors in an audit of a company the regulator declined to name.The Council (FRC), which regulates auditors, accountants and actuaries, said the breaches relate to auditing the principal assets of a company."The work done on the sampling of those assets was inadequate and failed to select an audit sample that was sufficient to reduce the..