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.
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