​Sports Direct appoints RSM as new auditor

The sporting goods retailer has made the appointment after struggling to find a replacement for Grant Thornton, which stepped down as auditor following the business’ AGM in September.

The appointment follows Sport Direct being put under pressure to appoint a new auditor without government intervention. Following Grant Thornton’s resignation, Sports Direct was the first major listed business that had failed to appoint an auditor, in breach of stock market rules.

The retailer had previously implored big four auditors to reconsider their stance on not auditing the retailer, with EY, PwC, KPMG and Deloitte all declining the appointment.

Had a successor not been secured, business secretary Andrea Leadsom would have resorted to the untested process of appointing an auditor on Sports Direct’s behalf.

RSM UK head of audit Jonathan Ericson said: “RSM is delighted to have won this opportunity. We have a strong, high-quality audit practice. Our experience, investment and commitment, together with the scope and scale of our international services, mean we are ideally placed for this important public interest appointment.”