The failing on display is a suspect commonplace, not just in Grant Thornton, but in many of the mass of audit failings noted by the FRC amongst the major audit firms each year.
There is an expectation that we should have cheap audits. Firms deliver them using, very largely, quite junior staff who are in their early twenties, who have almost no experience of accounting, very little on the job training, and who have never done any actual accounting because opportunity to do that is almost unknown in larger audit firms. The primary goal of these staff remains what it has been throughout their lives to date, which is to pass exams and then move on. Audit is for them little more than a ticket to a right of passage, which is qualification as an accountant and the financial rewards that brings. Their interest in audit is marginal, at best.
These are the people that sustainable Cost Accounting depends upon to decide the costs of going emissions neutral, to decide whether a company is carbon bankrupt or not. The entire economy is to be delivered to peeps 12 months out of university who aren’t actually interested anyway and who have no particular skills either.
What could go wrong?