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 growth," said Stephen Chipman, chief executive officer of Grant Thornton LLP. "We continue to invest in talent who make a marked difference in the quality and breadth and depth of our services to clients in our chosen markets."
Not only that but the firm "resolved several long-standing legal matters during the year." It always feels good to scratch something off the to-do list.
[GT]
A new survey of more than 300 chief audit executives (CAEs) by Grant Thornton LLP finds that while nearly half believe that the shifting regulatory landscape poses the greatest threat to their company, a vast majority (88%) do not believe that the Sarbanes-Oxley Act (SOX) should be repealed. Of those that believe SOX should be repealed, the cost of compliance is the main reason for doing so. “Since the passage of SOX, organizations have had to dedicate significant resources to comply with a host of new laws and regulations,” noted Warren Stippich, a Chicago-based partner and Grant Thornton’s national Governance, Risk and Compliance solution leader. “Based on discussions with various CAEs during the survey process, many believe that SOX brings a continued focus by management on financial and governance-related controls. However, CAEs believe that compliance audit processes are now well-defined and are currently exploring ways to contribute value creation to the organization well beyond compliance monitoring and reporting.” [