The accounting watchdog said it had closed the book on its accountancy scheme investigation in relation to the preparation and approval of Sports Direct International's (SDI) financial statements for the financial year ending April 24, 2016.
SDI was not the subject of the Financial Reporting Council's investigation, the FRC said.
“Having considered the representations provided, the Executive Counsel has decided in the circumstances of this case that the test for bringing enforcement action is not met,” the FRC said in a stock market statement.
“Accordingly, the case has been closed. SDI was not the subject of the FRC's investigation.”