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A foundation built on quality

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Analyzing reports using laptop The firm’s Audit Quality and Transparency Report 2020 encompasses a year of unparalleled challenges from the immense hardships of COVID-19. Our audit professionals have pivoted rapidly to keep quality at our core despite an extraordinary environment that saw us move key procedures and protocols to a virtual setup while making certain the highest standards were rigorously maintained. The firm updated key protocols and procedures in alignment with virtual-environment auditing standards, quality monitoring and controls, and technology and methodology to drive strong outcomes and robust client service.

In that same vein of excellence, our leadership team committed to recruiting, advancing and retaining greater diversity within our engagement teams while enabling all team members to deliver strong results.

A critical step in maintaining quality was the firm’s creation in 2019 of an Audit Quality Advisory Council. The three-person council comprises two independent executives and a Grant Thornton Partnership Board member. Council members provide deep, practical and objective advice centered on our tools and methodologies, training and technical competency, accountability for quality and linkage to compensation, client acceptance and risk management procedures, national office support and quality monitoring, internal inspection staffing and procedures, and the tone from the top regarding the importance and necessity of audit quality

All that, plus details about the people and the processes at the heart of Grant Thornton quality, are in our Audit Quality and Transparency Report 2020.