CHICAGO — As part of its continued efforts to ensure ‘quality without question,’ Grant Thornton LLP is creating a Quality Monitoring Council.
The council will evaluate and advise on all matters affecting audit quality, including Grant Thornton’s commercial and public interests and its audit practice investments. The council will also make operational and budgeting recommendations, and will advise on the impact of compensation and incentive systems on quality, as well as procedures to monitor independence.
The three-person council will include two independent members with strong audit and business acumen and a member of Grant Thornton’s Partnership Board. The firm has launched a search for the two independent members of the council, who will report directly to the Partnership Board.
“We want to be the auditor of choice for companies committed to excellence, both in their business and in their financial reporting,” said Mike McGuire
, CEO of Grant Thornton. “Our quality results are now among the best in our profession, and our new Quality Monitoring Council will help us keep our unwavering focus on quality before all else and build on our audit quality improvements over the past few years.”
, national managing partner of Audit Services at Grant Thornton, sums up the Quality Monitoring Council by saying this: “Quality is the foundation of all we do at Grant Thornton and this council reaffirms our focus to deliver the highest quality audits.”
Learn more about Grant Thornton’s audit-quality initiatives
About Grant Thornton LLP
Founded in Chicago in 1924, Grant Thornton LLP (Grant Thornton) is the U.S. member firm of Grant Thornton International Ltd, one of the world’s leading organizations of independent audit, tax and advisory firms. Grant Thornton, which has revenues in excess of $1.7 billion and operates 59 offices, works with a broad range of dynamic publicly and privately held companies, government agencies, financial institutions, and civic and religious organizations.
“Grant Thornton” refers to Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. Services are delivered by the member firms. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions.
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