August 13, 2020

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 to the mid-tier firm that is facing two investigations connected to its auditing work. 

We don't expect the PCAOB reports to ever get this kind of color, which will keep us busy for the foreseeable future.     
 
[FTFRC]

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Related articles

Grant Thornton U.K.’s Latest Audit Inspection Report Is Out, and It’s Almost as Bad as Last Year’s

Welp, Grant Thornton’s 2019-20 audit quality inspection report from the Financial Reporting Council shows that GT hasn’t really gotten much better at audit quality in the past year. That’s kind of a problem when you’re the sixth-biggest accounting firm in the U.K. Last year the FRC was pretty unhappy with Grant Thornton after the firm’s […]