- A judge has said the audit report can be pulished, but that it may be ‘defamatory’
- The FRC says it wants to publish it because ‘there is public interest in this’
- A request for an injunction on the report was declined
Sir Philip Green is considering legal action over a report by the accountancy regulator into the audit of BHS
Sir Philip Green’s family firm Taveta is considering legal action over a report by the accountancy regulator into the audit of failed department store BHS.
A judge last week said the Financial Reporting Council could publish its report, but that it may be ‘defamatory’.
The MoS first revealed that auditor PwC was to be handed a record fine by the regulator for signing off on the BHS accounts shortly before it was sold to a serial bankrupt for a token £1.
A source close to Green said the FRC would leave itself ‘very open’ to being sued if the report was published in full.
The judge refused a request for an injunction on the report from Taveta, one of Sir Philip Green’s family firms and formerly the parent company of BHS.
But Justice Nicklin said the report made ‘criticisms of the Taveta personnel that are capable of being defamatory of them (and seriously so).’
The FRC said: ‘We want to publish as soon as possible because there is public interest in this.’
Taveta declined to comment.
The report’s criticisms are not understood to level at Green directly.