Governance, independence and accountability
Recent events within our profession have placed governance, independence and ethical conduct firmly in the public spotlight, highlighting the importance of continually reinforcing professional integrity with our people and promoting a culture of honesty and accountability.
At the same time the accounting profession is experiencing more disruption than ever and is at an important inflection point. In a landscape characterised by economic uncertainty, technological advancement, evolving regulation and heightened stakeholder expectations, the role auditors and professional services firms play in the market has never been more important, nor more critiqued.
Grant Thornton has long recognised the importance of strong governance. As a corporate entity bound by the Corporations Act 2001, our structure, leadership accountability and quality management systems are designed to reinforce the professional behaviour that underpins the audit profession. We are governed by the whistleblower legal rights and protections under the Corporations Act 2001 and our people are encouraged to raise any concerns through a confidential and anonymous whistleblower portal, reinforcing a culture of ethical conduct.
Investing in specialist expertise
As client needs continue to evolve, so does the expertise required to support them. We continue to invest in building our specialist sustainability reporting advisory capability, strengthening our assurance expertise, and supporting all team members through dedicated training and accreditation programs.
Sustainability Reporting is no longer a specialist discipline sitting outside mainstream business reporting. It has become an integral part of how organisations communicate risk, opportunity, performance and long-term value creation to investors and stakeholders – one of the most significant reporting transformations in decades. In response we have invested significantly in building a team of sustainability specialists to provide quality assurance and advisory services to organisations in need of support to satisfy regulatory and other sustainability reporting requirements.
The future of audit in an AI-enabled profession
Technology will continue to reshape how services are delivered. Our strategy is not just to respond to change, but to anticipate it and invest in our people and tools in order to provide the capabilities that our clients, regulators and stakeholders require now and into the future.
Few developments will have a greater impact on the profession than artificial intelligence (AI). AI is already transforming the way auditors obtain and analyse data, identify risks and deliver insights. Used responsibly, these technologies will improve audit quality, enhance efficiency and create greater overall value for clients. However, technology alone is not the future of auditing and the accounting profession. We believe human intelligence, including judgement, professional scepticism, ethical decision-making and critical thinking are essential to the future of AI in our firm.
For this reason, our AI strategy is fundamentally a people strategy – treated as an education and enablement program first, and a technology rollout second. We continue to invest in training, capability development, and responsible and ethical AI adoption programs across the firm, including an AI credentialing framework designed to recognise and develop capability and confidence among our people. We are focused on helping our teams understand not only how to use emerging technologies, but how to use them responsibly, ethically and effectively. By combining human intelligence with technological capability, we can create better outcomes for our clients while providing our people with rewarding, future-focused careers.
Future readiness in a changing landscape
While the future of audit will look very different from its past, with new forms of reporting and assurance emerging, and technology accelerating the pace of change, the foundations that underpin our profession will remain constant. Trust, quality, independence and integrity will continue to define successful firms, providing the confidence and credibility that clients, stakeholders and communities depend on in an increasingly complex environment.
By investing in our people, strengthening governance, embracing innovation responsibly and building expertise in emerging areas such as sustainability reporting, we are positioning Grant Thornton to meet the challenges of the future while remaining faithful to the principles that matter most.
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ASIC Audit inspection reports
