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September 29, 2023

When accounting goes unaccounted for

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Friday Footnotes: EY’s Six CEO Candidates; Deloitte UK Partner Payouts Increase Again; IIA Gets Their Way | 9.29.23 Prager Metis Just Got Thoroughly Boned By the SEC For Hundreds of Independence Violations Listen Up, Young Accountants: Career Advice For Sticking Out Those Early Years Deloitte Survey Finds Zoomers Are 3x More Likely to Fall For Scams Than Boomers So Why Don’t More of Them Work at Deloitte Longtime PCAOB Veteran and Skepticism Enthusiast George Botic to Sit on the Actual Board
Grant Thornton

UK Auditor Regulator Stops Short of Calling Grant Thornton Audits ‘God-Awful’

by Caleb Newquist

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.     
 
[FT, FRC]

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