All Grant Thornton articles
-
ArticleFRC launches probe of BDO over NMCN audit
The Financial Reporting Council announced the launch of an investigation into BDO in relation to its audit of U.K. construction and engineering company NMCN, which filed for administration earlier this month.
-
Article
Grant Thornton UK fined $3.2M for Patisserie Valerie audit lapses
Grant Thornton UK has been fined £2.34 million (U.S. $3.2 million) by the Financial Reporting Council for failures in its audits of collapsed café chain Patisserie Valerie between 2015 and 2017.
-
Article
Big Four mishaps in U.K. underscore need to challenge auditors
Companies should question their auditors throughout the audit process, particularly in the wake of a spate of recent enforcement actions in the United Kingdom targeting the Big Four and other large firms for audit deficiencies.
-
Article
FRC 2020/21 audit inspections: KPMG rebuked over continued struggles
The U.K. Financial Reporting Council released the results of its 2020/21 audit quality inspections, in which it singled out KPMG for “unacceptable” deficiencies regarding the firm’s audits of banks and similar entities.
-
Article
Study: Big Four audit hold still strong despite 2021 dip
The Big Four’s dominance on the public company audit market remains despite a slight dip in numbers in the last year, according to the latest research from Audit Analytics.
-
Article
Audit client turnover 2020: EY ends Deloitte’s streak; PwC, KPMG lag behind
Ernst Young and Deloitte each had net increases in new public company audit engagements in 2020, while Big Four peers PwC and KPMG saw net decreases, according to the latest annual study.
-
Article
PCAOB 2019 inspection reports: Deloitte still tops; PwC deficiency rate rises again
Three of the Big Four audit firms—Deloitte, EY, and KPMG—improved their year-over-year deficiency percentage in the PCAOB’s 2019 inspection reports, while PwC’s deficiency rate increased for the third straight year.
-
Article
How auditors can help companies with non-GAAP measures, KPIs
A new report from the Center for Audit Quality includes key questions audit committee members can ask to fulfill their oversight responsibilities as they discuss non-GAAP financial measures and KPIs with management and auditors.
-
Article
FRC audit inspections: Deloitte leads way as quality declines as a whole
The Financial Reporting Council published the results of its latest round of audit inspections, concluding one-third of the reviewed audits conducted by the seven largest U.K. firms required a notable level of improvement.
-
Article
Grant Thornton UK fined $2.4M for ethical, independence failures
The U.K. Financial Reporting Council fined Grant Thornton £1.95 million (U.S. $2.4 million) for firmwide ethical and independence failures concerning an audit of alcohol retailer Conviviality Retail.
-
Article
PCAOB inspection reports: Deloitte shines in 2018; KPMG still behind
The Public Company Accounting Oversight Board issued 2018 inspection reports for the six largest U.S. audit firms, with Deloitte boasting the fewest deficiencies among the Big Four and KPMG struggling most.
-
Article
Audit client turnover 2019: Deloitte dominates; KPMG, EY, PwC falter
For the fifth consecutive year, Deloitte net positive in new SEC audit engagements while the rest of its Big Four peers saw net decreases in clients, according to the latest annual study from Audit Analytics.
-
Article
FRC sends letter to Big Four outlining ‘operational separation’
The U.K. Financial Reporting Council penned a letter to the Big Four outlining expectations for how the auditors should go about separating their audit work from their consultancy business.
-
Article
Tax planning opportunities for 2020 lead to potential tax savings
Grant Thornton has released guidance on tax planning for both public and private companies to help them get started by asking the right questions.
-
Article
Amid industry crackdown, U.K. audit firms evolving with the times
It’s been an intense year for the audit industry in the United Kingdom—and things are expected only to get tougher as a new audit regulator, with new leadership and stronger statutory powers, prepares to take the reins.
-
Article
Grant Thornton, Ephesoft announce alliance
Grant Thornton has formed an alliance with enterprise content capture and data discovery solutions provider Ephesoft.
-
Article
Grant Thornton changes leaders, ending CEO term early
Offering no specific reason for his early departure, Grant Thornton says Mike McGuire is stepping aside as CEO.
-
Article
Regulators globally still call for better audits
While encouraged by the trend in audit inspection results, global audit regulators report they are still seeing levels of audit deficiency that command continued focus on improvement.
-
Article
Grant Thornton earns record low deficiency rate
Grant Thornton earned a record low deficiency rate on its newest audit inspection report, the first major firm to deliver a rate in the teens since 2009.
-
Article
Charts: Exclusive analysis of audit inspection reports
See how the big accounting firms compare in terms of audit deficiency rates for 2009 through 2016 and internal control deficiencies for 2016 based on PCAOB inspection report results.
