Audit problems

In the margins of a visit to the Blenheim, I learned about a pubco called Stonegate and a private equity operation called TDR. As noticed at reference 1.

I now learn that this same TDR is mixed up with the EG Group, the petrol station company which is buying Asda from Walmart. Mixed up at least to the extent that both are owned by the Issa brothers, CBE's both for services to business and charity.

And that Deloitte has taken the unusual step of resigning as auditor of EG Group. Given the reluctance of big accountancy firms to walk away from fat fees, can we expect some scandal to erupt? But this has not stopped KPMG from picking up the account. Watch this space.

Reference 1: https://psmv4.blogspot.com/2020/09/pubcos.html.

Reference 2: https://uk.eurogarages.com. EG for Euro Garages.