September 19, 2019

Grant Thornton

Promotion Watch ’19: Grant Thornton Admits 42 New Partners and Principals

The last month hasn’t been the greatest for Grant Thornton, as the firm gave pink slips to 230 professionals and 40 PPMDs, approximately 3.5% of its workforce, at the end of July. So GT’s leadership probably wanted to wait until the dust settled before they announced that interim CEO Brad Preber had recently handed out […]

Ex-Grant Thornton U.K. CEO Sacha Romanovitch Has a New Gig

The first female CEO of a major accounting firm in the U.K. won’t have to worry about partners stabbing her in the back in her new position as CEO of a financial inclusion organization called Fair4All Finance: We are happy to announce the appointment of our first CEO, Sacha Romanovitch. From 1st Sep she will […]

Who Will Be the Next CEO of Grant Thornton?

Among the slew of tips we received about the layoffs that went down at Grant Thornton last week and what interim CEO Brad Preber had to say about it was this one that also piqued our interest: As Brad Preber is the “interim” CEO, there are three people (women) currently being considered for the CEO […]

Why Grant Thornton Quitting As Auditor of Sports Direct Matters

In an ordinary midsummer news slump, only yawning disinterest would greet the July 29 news of Grant Thornton’s notice to the U.K. authorities of its intent to resign as auditor of troubled retailer Sports Direct International plc. The times are not ordinary; the cauldron of auditor criticism has bubbled since the collapse of Carillion in […]

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Layoff Watch ’19: Interim CEO Brad Preber Addresses the Grant Thornton Layoff Rumors

It’s Brad Preber’s first day on the job as interim CEO of Grant Thornton after now-former CEO and hero of the wastes Mike McGuire noped on up out of that seat. And boy did he have a shitstorm to deal with first thing. Rumors of Grant Thornton layoffs started swirling earlier this week, and no […]

Layoff Watch ’19: It’s Going Down at Grant Thornton

Back in March, Jason let us know about a handful of layoffs out of Grant Thornton U.K. and now it seems the fun is coming to ‘Murica. First, a tipster informed us of a shake-up in the Northeast Region, with the Westborough, MA office closing up and possibly more closures planned. Our tipster says they […]

U.K. Inspection Reports Reveal That Grant Thornton Can’t Audit Its Way Out of a Paper Bag

Here’s some good news for the 300 new auditors Grant Thornton in the U.K. is expecting to hire within the next 12 months: You can’t be any worse than the auditors GT has employed in recent years. The Financial Reporting Council released its annual audit inspection reports for the Big 4 firms, as well as […]

Hiring Watch ’19: Grant Thornton U.K. Is Looking For Competent Auditors to Fill 300 Jobs

Hey, auditors! How confident are you that you wouldn’t royally screw up auditing the financial statements of a well-known U.K. cafe chain and could uncover a £94 million accounting fraud? Pretty confident, eh? Well, you couldn’t do much worse than the dolts Grant Thornton U.K. had handling the audit work on Patisserie Valerie’s accounts. While […]

We’re Sure Mike McGuire Will Be Dynamic In His New Role as Grant Thornton ‘Brand Ambassador’

Bear with me, I’m writing this on my phone at the side of a pool. Anyway, talk about your Friday night news dumps. This came out of the blue: Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL), one of the world’s leading audit, tax and advisory firms, announced today that […]

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Auditor Swap: AZZ Says Buh-Bye to BDO USA, Hires Grant Thornton

Auditor shopping has made the news a little more than usual of late, with high-profile companies like Fitbit and Goldman Sachs in the U.K. both kicking PwC to the curb in favor of a fresh, new set of eyes. Then there’s General Electric, which might end its century-old relationship with KPMG after this year. While […]

Grant Thornton Poaches Someone From KPMG and Issues a Press Release, Part II

In the comment section of an article we posted on May 10 about a managing director and a partner recently fleeing KPMG to join Grant Thornton’s Corporate Value Consulting practice, we got a tip that the Purple Rose of Chicago recently poached KPMG again—Candice Turner left the HoK to join GT as a principal in […]

Grant Thornton Poaches Two People From KPMG and Issues a Press Release, Part I

A couple of months ago, we reported that a partner and a principal bolted Grant Thornton earlier this year for the blue-and-white confines of KPMG, one of whom actually left and came back to the House of Klynveld. Well, it looks like the Purple Rose of Chicago has turned the tables on KPMG. Grant Thornton […]

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Grant Thornton Partner Killed In Car Crash

Some sad news to report, as a partner in Grant Thornton’s New York City office died in a one-car crash in Westport, Conn., on April 14. Cullen Walsh, 39, was identified by authorities on Tuesday as the person killed in the crash, according to the Westport News. Shortly before 1 a.m. Sunday morning, first responders […]

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Grant Thornton Surprises Everyone By Not Sucking at Auditing

Grant Thornton gets a bad rap around here, much of which is kinda justified to be fair. They’re sort of like your annoying little brother who always wants to come with you to hang out with your friends but he smells like curdled milk and always has crusty gunk on the corners of his mouth. […]

Layoff Watch ’19: Grant Thornton U.K. to Part Ways with Up to 60 Staffers

Some unlucky folks at Grant Thornton U.K. are taking the hit for the firm’s miserable 2018, which saw GT stop bidding for new audit work at the largest U.K. companies, the CEO not seeking a second four-year term after a partner revolt, revenue dip from £500 million in 2017 to £491 million last year, partners’ average […]

Auditor Swap: Fitbit Dumps PwC In Favor of Grant Thornton

The Purple Rose of Chicago just got itself a new engagement. Via Reuters: Wearable device maker Fitbit Inc has dismissed auditor PricewaterhouseCoopers LLP after a review of its fees and appointed Grant Thornton LLP, the company said in a regulatory filing on Thursday. The filing states that Fitbit chose not to renew its engagement with PwC […]

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KPMG Poaches Someone From Grant Thornton and Issues a Press Release, Parts I and II

We here at GC HQ love a good poaching, especially when it involves two of the top six firms in the U.S. So we were happy to see this press release from KPMG come across our virtual desk this morning: Mark Rems has joined KPMG LLP, the audit, tax and advisory firm, as a principal […]

Grant Thornton Current and Former Partners Will Have a Seat In the PCAOB’s Penalty Box

The Public Company Accounting Oversight Board doled out suspensions to a current partner and a former partner at Grant Thornton on Feb. 26 for their roles in screwing up the 2013 audit of a real estate investment trust. Richard Huff Jr., CPA, was censured and given a one-year ban by the PCAOB. Huff was the […]

Grant Thornton Topped $5.4 Billion in Global Revenue in 2018

It’s a dynamic time to be a GTer (unless you work in the U.K.), as Grant Thornton International announced this week that its network of firms around the world combined to reach a record $5.45 billion in revenue for the financial year that ended on Sept. 30, 2018. Global revenue grew 9.4% in U.S. dollar […]

Patisserie Holdings Said It Was Hiring an Audit Firm That No Longer Exists to Replace Grant Thornton U.K. as Auditor

It’s the Friday before Christmas, and when you have a bad case of holiday brain, sometimes mistakes can happen. Sometimes these mistakes can be hilarious. Like this one from Patisserie Holdings, parent company of U.K. coffeehouse chain Patisserie Valerie: Patisserie Valerie mistakenly says it has named RSM Tenon as its new auditor… RSM Tenon collapsed […]

An 8% Drop in Pay Might Be the Reason Why Some Grant Thornton U.K. Partners Were Pissy at CEO

We’re just spitballin’ here. From Economia: [Grant Thornton] said on Friday its average profit per partner fell 8% from £403,000 to £373,000 in 2017/18. Ouch! Of the top six accounting firms in the United Kingdom, this puts Grant Thornton sixth, by quite a bit, in average partner pay for the 2017-18 financial year: Deloitte: £832,000 […]

Grant Thornton U.K. Gets a New CEO

Good morning/afternooon, gang. We have some news to share from across the pond, as Grant Thornton has appointed a new CEO to replace Sacha Romanovitch. We are pleased to announce that Dave Dunckley has been ratified as our new CEO elect. His focus will be to create an organisation which powerfully connects a clear social […]

Grant Thornton CEO Mike McGuire Will Hang Around For a Few More Dynamic Years

While Grant Thornton U.K. is actively looking for a new CEO to replace Sacha Romanovitch, who is quitting after being stabbed in the back by a group of anonymous partners, everything is hunky-dory at Grant Thornton LLP, where the U.S. firm has decided to keep its current czar around for a little while longer. A […]

Anonymously Bashing Your Boss Must Have Worked as Grant Thornton U.K. CEO Is Calling It Quits

A small group of Grant Thornton U.K. partners must have been grinning from ear to ear on Oct. 15 after hearing the news that Sacha Romanovitch has decided not to seek a second term as the firm’s CEO. A new CEO is expected to be appointed before the end of 2018 following an election process in […]

Grant Thornton Posts Revenue of $1.8 Billion in Fiscal Year 2018

[Updated with quote from Grant Thornton spokesperson.] The Purple Rose of Chicago put out a very skimpy press release this morning announcing that the U.S. firm’s revenue hit $1.8 billion for the fiscal year that ended July 31, 2018, up 3.4% over last fiscal year. And … that’s pretty much it. Not even a mention […]

Some Grant Thornton U.K. Partners Are Trying to Undermine CEO, Say She Is Pushing a ‘Socialist Agenda’

Grant Thornton U.K. CEO Sacha Romanovitch isn’t very popular with a small group of partners who say she is pursuing a “socialist agenda” and has instilled a “culture of fear” at the firm where there are severe repercussions for speaking out, according to a Sept. 21 Financial Times report. Romanovitch, who became the first female […]

FRC Didn’t Want Grant Thornton U.K. to Feel Left Out of All the Disciplinary Fun

The Big 4 firms in the U.K. have been the target of repeated tongue-lashings from the Financial Reporting Council lately because, let’s face it, audits have been pretty damn bad. Things have gotten so desperate that EY is bringing in behavioral psychologists to improve audit quality. But the U.K. accounting watchdog’s most recent tongue-lashing wasn’t […]

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Grant Thornton Admits 32 New Partners and Principals

This just in from the Purple Rose of Chicago: Grant Thornton LLP has admitted 32 new partners and principals, and promoted 29 to managing director, effective today. Specifically, 20 new partners and 12 new principals are members of the class of 2018. Here’s how this year’s numbers compare to previous years’ new partner/principal promotions at […]

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Grant Thornton Gets Dinged for Giving Partners with Audit Quality Issues More Work

The Public Company Accounting Oversight Board has announced a big settlement with Grant Thornton over quality control violations and audit failures. The firm was censured and agreed to pay a $1.5 million civil penalty. The quality control violations related to the assignment of two Philadelphia-based partners to audits in 2013 when they had been cited […]

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Grant Thornton Admits 39 New Partners and Principals

Who are the new Grant Thornton partners? Glad you asked. The firm announced them earlier today along with new principals and managing directors, as is customary for the Purple Rose of Chicago. If you like to parse these things out, then it breaks down as: 27 partners, 12 principals and 28 managing directors. In the […]

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Here’s Your Open Thread for Grant Thornton Compensation Discussions (2017)

By the sound of things, it’s time for us to open the gate on the Grant Thornton compensation thread. This is a little strange because, in years past, tips usually start rolling into our inbox in the last half of July. One message we received over the weekend, however, might explain the delay: Comp releasing […]

grant thornton compensation 2017

Grant Thornton Making Some Tweaks to Its Unlimited PTO Policy

Last time we checked on Grant Thornton’s unlimited PTO policy, we learned that it was having at least one desired effect: people were taking more time off. The median number of PTO days taken jumped from 17.4 to 19.1. However, the comments from that article suggested that things were getting a bit out of hand. […]

How’s Grant Thornton’s Unlimited Vacation Policy Been Working Out?

Last year, the only second-tier accounting firm not cool enough to go by its inititals, Grant Thornton, announced a new paid-time off policy that would allow its employees to take unlimited vacation. Although GT employees seemed happy with the idea, the move was met by skepticism here and elsewhere.

Grant Thornton Offers Unnecessary Reminder

#ElectionDay fact: Hillary Clinton and Donald Trump are two of the most unpopular candidates in history>> https://t.co/bjeXFC2rpV — Grant Thornton (@GrantThorntonUS) November 8, 2016 Thanks, GT.

Don’t Pretend That the Presence of Three Grant Thornton CEOs Had Nothing to Do With a Cubs Victory

The first Cubs World Series win at Wrigley Field in 71 years wasn't just going to happen. The three CEO's of Grant Thornton since 2001 at the World Series tonight! Go Cubs! pic.twitter.com/jhf2lVgDba — J. Michael McGuire (@mikemcguireCLT) October 31, 2016

Grant Thornton Admits 47 New Partners and Principals

Grant Thornton announced its new partner class yesterday and while this year's group was slightly smaller than last year's class of 50, it's still far larger from those in recent years. There were 32 new partners admitted in 2014, 30 in 2013, 27 in 2012, 26 in 2011 and 22 in 2010. Here's the newly […]

Grant Thornton CEO Does His Best Ferris Bueller Impression

Mike's just blowing off work to see a Cubs game: Our @mikemcguireCLT put on his #Cubs hat + took to the mound to throw out the first pitch. #LetsGo pic.twitter.com/kl0fPlFsyC — Grant Thornton LLP (@GrantThorntonUS) August 5, 2016 Ball? Strike? Wild pitch? If you were there, get in touch to let us know how he […]

Here’s Your Open Thread for Grant Thornton Compensation Discussions (2016)

Grant Thornton saves its compensation discussions for the dog days of summer. My hunch is that they like sharing disappointing news when people are feeling lethargic and unwilling to make too much of a fuss over a raise that barely keeps up with inflation.

Grant Thornton Hoping to Bring Soul-Crushing Disappointment to Charlotte Hornets With New Sponsorship

Grant Thornton recently became a multi-year sponsor of the Charlotte Hornets basketball team. The deal will afford them several perks including "leasing a suite at Time Warner Cable Arena, advertising courtside and putting the firm’s name on a private club near the home locker room." It's a great deal for GT; a sports franchise — […]

Grant Thornton: New Unlimited PTO Policy Not Designed to Get People to Take Less Vacation

As you've all heard by now, Grant Thornton will be launching an unlimited PTO policy starting November 1. The firm documented its employees' surprise to the move and it is surprising since less than 1% of companies offer unlimited vacation. Not only that, but the Purple Rose of Chicago will be the only major accounting […]

Grant Thornton Demonstrates Its Instinct for Diversity in Its Paid Time-Off Video

Grant Thornton’s video announcing their unlimited paid time off policy was exceptional cinema. For starters, everyone in the video looks very uncomfortable — like they weren’t sure if they were giving feedback on company policy or making a sex tape with a tax manager. It’s also clear that the people who were ambushed in the […]

Grant Thornton’s Revenue Didn’t Take Time Off

The Purple Rose of Chicago earned $1.45 billion in the U.S., beating last year's haul of $1.35 bil. Judging by Mike McGuire's canned quote, everything is on the up and up: “Our financial results are a direct reflection of the value we’re providing to our clients,” said Mike McGuire, chief executive officer of Grant Thornton […]

Grant Thornton Should Pay Its People to Take Vacation

Grant Thornton is getting into the surprisingly generous benefits act, announcing that it will offer its employees unlimited time off starting in November. They even shot this video of their people's reactions to the news: Those people seem genuinely surprised. That's kinda nice. Few companies offer unlimited PTO; this Bloomberg report says fewer than 1% […]

Stephen Chipman Calling it a Career at Grant Thornton

Stephen Chipman, erstwhile CEO of Grant Thornton, blogger, romantic, inexperienced Chicagoan, incredibly unprepared Chicagoan, note writer, dynamic perpetual optimist etc. etc. is hanging it up after 34 years at the Purple Rose of Chicago:   Grant Thornton LLP announced that Stephen Chipman, senior vice chairman of Grant Thornton LLP, has elected to retire early from […]

Grant Thornton Admits 50 New Partners

Grant Thornton deified 50 new partners on August 1st, according to a firm press release. This year's class size dwarfs those from recent years; there were 32 new partners admitted in 2014, 30 in 2013, 27 in 2012, 26 in 2011 and 22 in 2010. Purple Rose of Chicago CEO Mike McGuire heaps on the […]

Judge Felt Compelled to Call Out Grant Thornton’s Extraordinarly Crappy Work

It's always amusing when a judge reprimands an accounting firm for sucking at its job. Usually it's due to some dumpster fire that auditors watched burn for too long, but today's bench slap came from a judge on Delaware's Court of Chancery in regards to some valuation work Grant Thornton performed: Vice Chancellor Travis Laster […]

Oops: Grant Thornton Lost an Audit Client Due to ‘Inadvertent Scope Creep’

Ahhhh, independence. The albatross around the neck of the audit profession. Or maybe that's the PCAOB. Or maybe it's the technology. Fuck, I don't know. If you imagine all the giant birds shitting on auditors, ugh, that's a horrific thought.

Here’s Your Open Thread for Grant Thornton Compensation Discussions (2015)

The last time we teased with talk of GT compensation, our tipster seemed impatient and harboring inflated expectations. Hopefully most of you McGuire Munchkins are either more patient or realistic about your comp news. Or perhpas you've adopted, "I don't care about money anymore," as your personal comp season motto. That'd be a fun surprise […]

Bonus Watch: Impatient Grant Thornton Employees with Big Expectations

This just in: Grant Thornton will pay out bonuses early this year (July 21). They will electronically disseminate salary and bonus information on July 14. All I'm saying is they better be good. Our tipster included an excerpt from an alleged message to the troops: At Grant Thornton, our people are talented, intellectually curious and […]

Grant Thornton Poaches a Deloitte Partner and Issues a Press Release, Part I

Grant Thornton has put everyone on notice that they've snagged Deloitte National Managing Partner for U.S. Government Affairs & Public Policy Jim Brady. He will become GT's Central Region Managing Partner effective August 1. Brady has had quite a career at Deloitte, serving in many similarly dynamic roles. Among them: National Audit Leader for Growth […]

Grant Thornton Has Starring Role in Marine Corps’s Snafu Audit

How's this for a Charlie Foxtrot: the professional services firm known as Grant Thornton (or, if you prefer, Golf Tango) is smack dab in the middle of the Pentagon's messy accounting. Reuters has the whole scoop but the long/short of it is this: last year the Defense Department announced that the Marine Corps "passed" its […]

Grant Thornton Not Gonna Let Some Rich Guy Drag Its Good Name Through the Mud and Get Away With It

You wanna get nuts? Come on, let's get nuts! Grant Thornton has filed a counter-claim against Vincent Tchenguiz for defamation after the property entrepreneur sued the accounting firm for £2.2bn and accused it of a conspiracy.  In documents filed at the London High Court on Tuesday, Grant Thornton denied Mr Tchenguiz’s claims and said it […]

Grant Thornton’s Hartford Office Will Need All the Comforts of Your Average Frat House

The modern office has changed. With companies like Google and Facebook throwing around perks like free sushi, bowling alleys, dog runs, a keg in every kitchen, full spa service, among other luxuries, businesses feel the need to keep up however they can.  Grant Thornton's Glastonbury office is currently shopping around space in Hartford and Frank Kurre, the […]

Grant Thornton Names New Big Cheese in Wisconsin

Don't have a cow. You won't have to learn a new name as Jeff Bradford succeedsJeff Robinson. Although if you suspect a Jeff nepotism in GT Dairyland, we wouldn't blame you. Incidentally, Bradford earned his Bachelor's and Master's at UT so if you suspect a Longhorn biaswithin GT, you can run with that, too. [MJS] 

UK Auditor Regulator Stops Short of Calling Grant Thornton Audits ‘God-Awful’

The PCAOB inspection report for Grant Thornton, while worse in susbtance, doesn't quite express the feelings of a regulator who expects a little more.  A report from the UK accountancy watchdog said it was “disappointed” to find that five of the eight Grant Thornton audits it reviewed required either improvements or significant improvements, a blow […]

Spotted: Chevy Belonging to Grant Thornton Refugee or Peeing Calvin

There's also a chance that this is a picture of one of Craig Haber's old cars. Don't want to rule out any possibilities. 

Grant Thornton to Have Rat Problem for Foreseeable Future

A little bad news for Grant Thornton today: The towering rat balloon—six to 25 feet tall, often dubbed “Scabby the Rat”—is a common and sometimes contentious sight. It’s a gimmick used most frequently by unions to protest employers, but the inflated rats have occasionally been used by unions to protest other unions and, in an […]

Grant Thornton Warns Alumni the Sky is Falling

We wish we could tell you why Grant Thornton sent out this email to their alumni list today, unfortunately we don't have any clue. Not even crazy speculation barely rooted in reality. Even our tipster, who presumably receives odd emails from Grant Thornton regularly as a member of the esteemed Grant Thornton alumni email list, […]

Grant Thornton’s Chosen Markets Netted the Firm Record-Breaking Revenue This Year

Not one to be left out of the "we made a metric shit ton of money this year, guys" party, Grant Thornton announced today the highest revenue in the firm's 90 year history. Considering a dollar could buy you a month's worth of groceries, a house, and a horse 90 years ago1, that's not saying […]

Let’s Play Spot the Spelling Error at Meet the Firms with Grant Thornton

This suspect was spotted at University of South Carolina: Wonder if GT is in the market for a proofreader?

Grant Thornton’s Downtown NYC Office Still Has a Rat Problem

If Grant Thornton had any competitors, those competitors would be thrilled to see what's ongoing at Grant Thornton's downtown Manhattan office at 60 Broad. We wrote about the Teamsters' giant rat down there back in July but now we have photographic evidence. With bold print and underlining! Let's see what's going on: This makes us […]

Grant Thornton’s Interns Are Making Your Interns Look Bad

First, nourishing your body with food is totally overrated anyway. Second, seems like this is good practice for busy season, when you won't so much forget but be completely unable to unless you don't mind stale Twizzlers and team pizza lunch.   Our MVPs > MT @mfuadster: So focused on the Intern Case Comp that […]

Grant Thornton Names Mike McGuire CEO-elect

Today: J. Michael McGuire named CEO-elect of Grant Thornton U.S. http://t.co/LEviUIJtDh pic.twitter.com/qfKWTBpp4f — Grant Thornton LLP (@GrantThorntonUS) June 2, 2014 Looks like Grant Thornton opted for something other than a Costanza lookalike for their next CEO. According to a Grant Thornton press release, JMM assumes the role of CEO-elect immediately and will take over for Stephen […]

Say Hello to Some Dynamic Grant Thornton Winterns

Welcome Southeast region Winter Class of 2014 #Interns from schools ranging from Baltimore to Miami! pic.twitter.com/9Xr3nbmzwX — GrantThorntonCareers (@GTCareersUS) January 15, 2014 Why is this in black and white? Did GT blow its entire color budget on its sharp purple marketing materials? Oh whatever. Congrats, you kids!

Let’s Congratulate Grant Thornton For Its Dynamic and Record-Breaking Audit Failure Rate

Colin put this in ANR this morning but it's the kind of thing that deserves a post of its own just to make sure you don't miss it and mock appropriately: The Public Company Accounting Oversight Board gave a failing grade to Grant Thornton on 65 percent of audits inspected in 2012, the highest failure […]

Grant Thornton Employees Break Out Dynamic Christmas Sweaters for Holiday Party

You'd all do well to follow this example for your respective office parties this season: Successful @GrantThorntonUS #atlanta holiday party last night. Tacky sweaters and all. @mmangrum1126 @griffinehunt pic.twitter.com/ZoE3BqEbKF — Christian Hyatt (@christianhyatt) December 13, 2013 Okay, guy on the left — we see that you phoned it in by just opting for a Christmas […]

Grant Thornton Feeling Good About Grant Thornton’s Effort

The Purple Rose of Chicago turned in a scorecard of $1.274 billion in revenue, up 5 percent, for fiscal 2013. And Stephen Chipman, for one, thinks that's a solid effort:    "Attaining record revenues in a still tepid economic environment is a testament to our long-term strategy of focusing on dynamic, mid-sized clients that are poised for […]

Grant Thornton Doubles Down Nationwide on Corporate Doublespeak

Color me baffled, maybe I haven't spent long enough digesting PRspeak. ??? Does culture then wash it down with a nice, cold glass of Kool-Aid? Grant Thornton is supposedly holding "All Hands" meeting in all 54 US offices today to ensure the staff are sufficiently brainwashed into thinking this actually means something. Not very dynamic […]

Oh Dear Lord, Grant Thornton’s Belfast Office Has a Willy Wonka Room

Grant Thornton is the most dynamic accounting firm known to man. Now, some of you might doubt this based on past revelations such as temp tatts, unoriginal taglines, and questionable advertising campaigns, but the following report out of the Belfast office will make you believe. We all know accounting firm offices can be, er, less […]

Ex-Grant Thornton Partner Sorry for Taking $4 Million That Wasn’t His

Craig Haber, who, after being a partner at Grant Thornton for 11 years, started helping himself to client fees, admitted today that what he did was wrong and he's sure sorry about the whole thing:   Craig Haber, who prosecutors said diverted money to his own bank accounts between 2004 and 2012, pleaded guilty to […]

Here’s a List of Grant Thornton’s Newest Partners

Stephen Chipman has bestowed 30 purple roses, saying, "Our partners and principals have demonstrated great value to our dynamic clients and to our firm through their technical expertise and passionate leadership." There's also 20 new managing director,s however they merely, "[help] our partners execute the firm's strategy." Sounds like a slap in the face. I […]

Grant Thornton Audit Partners Might Want to Read Those Opinions Just a Bit Closer

Call this is a GT service announcement (or something). A tipster informed us a little while ago that there were a couple of Purple Rose of Chicago audit opinions floating around that have an unfortunate typo. Titan International and Gentherm, Inc. filed 10-Ks in 2013 with Grant Thornton's name spelled wrong on the opinion – spelling it […]

Here’s Your Open Thread for Grant Thornton Compensation Discussions (2013)

Last month we put out the GT comp fluffer post and with raises effective on August 1st, I suppose it's about time we gave the dynamic tattooed masses the thread they've been waiting for.

Comp Watch ’13: At Least One Grant Thornton Dynamo Is Optimistic

On Monday, compensation kvetching season officially kicked off with PwC. Papa Whisk(e)y Charlie generally sets the tone for the rest of the summer and we see some firms adjust their plans accordingly. Of course there are plenty of firms that don't adjust their plans, but probably do so at their own peril.   ANYWAY. The PwC […]

Grant Thornton Is Movin’ On Up

We appreciate the fact that the firm is enthusiastic about their growth, but this is getting ridiculous: Grant Thornton LLP has relocated its Minneapolis office within the north tower of the US Bank Plaza at 200 S. 6th St. to floors 14 and 15. The total space leased is 31,484 square feet. Today is the first […]

Hiring Watch ’13: Grant Thornton Chicago on the Hunt for Forensic and Investigative Dynamos

Last Friday while I was poorly navigating North Carolina, a tipster passed along an enthusiastic message that he received from a Grant Thornton National Talent Acquisition bounty hunter. And from the sounds of it, GT wants some fresh faces in their forensics group:

An Ex-Grant Thornton Partner Has Been Charged with Embezzling $4 Million

Here's an interesting story about a fella by the name of Craig Haber. Craig became a partner at Grant Thornton in 1993. Around 2004, Craig decided to start helping himself to client fees that rightfully belonged to GT. This went on for a while. Approximately $4 million in fees from 2004 to 2012, to be […]

Grant Thornton Was the Most Dynamite Accounting Firm in 2012, Says Grant Thornton

Eddie Nusbaum & Co. put up a good number, $4.2 billion to be precise. That's 10.4% (USD) greater than last time around. That's pretty good. So good, the firm reports in its press release that "Grant Thornton led the six largest global accounting organizations in reported revenue growth rate for 2012." And that appears to be true. […]

Grant Thornton Partner Asked to Take a Seat

GT partners have elected Dave Wedding as the next Chairman of the firm's board. He was also recently appointed OMP of the Purple Rose of Chicago: Carolinas practice. As a native of Charlotte, part of his appeal, undoubtedly, was his charming North Carolina accent.* This should match Stephen Chipman's charming English accent quite nicely. Leadership […]

New Grant Thornton Cleveland Location Will Benefit Employees, Withering Plants

The Purple Rose of Chicago: Cleveland Edition officially opened the doors at One Cleveland Center today and OMP Dan Zittnan says that's exciting for all kinds of reasons including "enhance[d] productivity and development," as well as, "more efficient layout, access to natural light, increased multipurpose space and more effective collaboration rooms." So not only will […]

Grant Thornton Gets Its Name Out There

Starting in 2015, Grant Thornton will be moving into the Chicago Title & Trust Co. building but more importantly will get naming rights meaning that 161. N. Clark St. will be known as the Grant Thornton something. But what? GTower? The Chipman Center? Big GT? Presumably all of these plus whatever else you can come up […]

Grant Thornton Is Going Places

Everyone's favorite tattoo parlor, Grant Thornton, has announced its revenues for the fiscal year ended, July 31, 2012 and things went pret-tay, pret-tay, pret-tay good. The $1.212 billion was so good, in fact, that it was a record for the firm and CEO Stephen Chipman says everything is going to plan: Grant Thornton’s strategy is […]

Is There a Hidden Message in This Interview with Grant Thornton’s Stephen Chipman?

As we've mentioned on several occasions here, when the media profiles Big 4 bigwigs, the revelations are far less interesting than, say, a movie star-governor. If touchy subjects are addressed, they are glossed over fairly quickly to move on to charity work, perseverance, or family life. It's like a heart-warming after-school special. Grant Thornton CEO […]

Someone at Grant Thornton Thought a Client Needed Help Holding Their Balls

After dominating much of 2011, the past year has been bit of a downer for the Purple Rose of Chicago. Last September, Grant Thornton reached its apex when the firm was crowned king of the hill in Vault's 50. Unfortunately, they were shoved off the pile by Ernst & Young less than a year later and things […]

Accounting News Roundup: A Deal on the Back of AMT?; Larry Flynt Makes an Offer; Diluted Audit Reforms | 09.10.12

U.S. Plans $18 Billion Sale of AIG Stock [WSJ]The Treasury Department said it would sell $18 billion of American International Group Inc. stock in a public offering, slashing its stake by more than half and making the government a minority shareholder for the first time since the financial crisis was roaring in September 2008. The sale […]

Compensation Watch ’12: Grant Thornton Starts Rolling Out the Numbers

Almost three weeks ago, we started the discussion for the Purple Rose of Chicago to help all the Grant Thornton dynamos gird their loins for this compensation season. We've received a number of requests for a follow-up since the discussions start this week and, finally, late last night someone shared their numbers with us: Grant […]

Comp Watch ’12: Grant Thornton Capital Market Servants Want Some Love

A simple request from someone out of the Purple Rose of Chicago: I know its not Big 4, but would you mind starting a thread on GT comp adjustments coming up this year? Mind? Apparently you're one of those people that think these pages devoted to the kvetching of Big 4 employees. Not so! When it […]

Grant Thornton Now Offering Insight to Fictional Advertising Agencies

According to a press release, GT's Canadian arm has found a new place to find dynamic clients – TV! Grant Thornton LLP has just published Foundation for Growth, a white paper that presents the results of research and analysis into how professional services firms view their performance and people, their planning and profitability. It contains […]

Grant Thornton’s New Private Equity Services Managing Director Is a Public Accounting Firm Bicycle

Kevin Hudson is not quite the bounder that Reznick Group's Joe Mudd is, but he has seen a few firms in his day: [Prior to Grant Thornton], Hudson served as a National Director with McGladrey’s Private Equity Services Group and was their Regional Private Equity Leader for the Northeast and Southeast regions. He has more than 19 years of […]

Bonus Watch ’12: Grant Thornton Auditors Who Manage to Ignore Their Wicked Impulses

Question for the auditors in the crowd – have you ever come across a nefarious situation in your career and thought, "You know, if doing the right thing were to pay better than doing the wrong thing, I'd walk away from this client in a second."?   Of course you have. That's pretty much the […]

Grant Thornton Is the Latest Firm to Join the Chinese Auditor Resignation Jamboree

SGOCO Group, Ltd. issued a press release this morning to let everyone know that Grant Thornton's Chinese affiliate decided to take a walk on May 14th. They disclosed this with the SEC around 10 am on Friday, but with the Facebook circus going on, no one noticed. What's interesting is that the company filed Form […]

The PCAOB Inspection Report of Grant Thornton Could Have Been Worse

The Board inspected 41 audits at 21 of Grant Thornton's 51 offices. Fifteen issuers were cited in the report that included various failures, primarily related to "obtain[ing] sufficient appropriate audit evidence to support its opinions on the financial statements and on the effectiveness of [internal controls over financial reporting]." There was everything from failure to […]

Stephen Chipman’s Gut Tells Him That the SEC Will Get on Board with IFRS

The Grant Thornton CEO tells Accounting Today he doesn't have any "inside information"; you're just going to have to trust him. “My sense is that the SEC is getting closer to a position,” he said during an interview with the Accounting Today staff on Tuesday. “I don’t have any inside information. This isn’t based on […]

Grant Thornton Now Issuing Temporary Tattoos for Laptops

Finally today, another bullseye out of the Purple Rose of Chicago:                       Our tipster writes: Can’t tell you how excited I am that the new laptop “wraps” came in at my office yesterday! See attached picture showing my company laptop sporting the new look. The handout […]

Unfounded Rumor of the Afternoon: Grant Thornton Scrapping CPA Requirement for Promotion to Senior

This just in: Rumor has it, GT is getting rid of the CPA exam requirement to be promoted to senior… GT is one of two firms (that we explicitly know of) that currently requires audit professionals to pass the CPA exam in order to be promoted. If this particular tidbit is true, then it would be […]

Grant Thornton Names New Head Dynamic Organization Hunter

Ed Novak has been appointed Head of National Sales and he'll be tasked with bringing home the dynamo bacon. “Hiring Ed is a key pillar in our strategy to establish Grant Thornton as the leading accounting and consulting firm serving dynamic organizations,” said Tricia Conahan, Chief Marketing & Sales Officer. That's great and all, but […]

Grant Thornton Probably Didn’t Realize They Were Quoting Nietzsche in Their New Slogan

A bookly tipster sent us the following: Grant Thornton ads and tattoos aren't the issue — Has anyone else noticed that Grant Thornton's new slogan– An instinct for growth — is totally lifted from Nietzsche's The Anti-Christ: "Life itself appears to me as an instinct for growth, for survival, for the accumulation of forces, for power; whenever the will […]

Any Tax Professionals at Grant Thornton Interested in Going to India?

Because of recent events, you may have thought that not much was in the works at Grant Thornton. Well, you'd be wrong. Stephen Chipman runs a tight fish and chip house so while you've all been distracted by pests, tattoos, and buttering up the POTUS, SC and his team have been planning your next dynamic […]

Grant Thornton Gives the All Clear After “Insect Issue” at Downtown Office

This is from earlier in the week and there's no official word about the pest in question but our tipster insists that it was edbugsbay: It was brought to our attention yesterday that there was a potential insect issue in a small location on the 24th floor of our 60 Broad Street Office.  We took […]

Here Is Exhibit A for the Argument Against Temporary Grant Thornton Tattoos

Look, you guys. I know the stress of busy season can be a lot to deal with but I beg you, don't let it cloud your judgment. Think about your loved ones. Think about the American people. Think about the children.  Whatever helps you recenter your perspective, keep that thing in mind so that you don't […]