The financial reporting and auditing industry is receiving world-wide attention arising from corporate collapses and reported fraud. Many of the issues being revealed are in relation to the independence of the auditor, competitiveness in the audit market, audit quality and the expectation gap of what an audit should give assurance on. Both here and overseas, the large accounting firms are now facing multiple parliamentary inquiries that will delve into different aspects of their operations.
These are issues that Grant Thornton Australia takes very seriously, and we are committed to continuously improving our own audit quality, as well as advocating for more clarity, transparency and rigour in the industry as a whole. Our commitment to quality and independence remains unwavering.
We welcome the opportunity to share a snapshot of our investment in our people and in the quality of our audits in this Transparency Report for the year ended 30 June 2019. This report is a public statement of our commitment to good corporate governance and ongoing, transparent communication with our stakeholders – our clients, audit committees, regulators and the wider public. We provide quality assurance services to organisations in Australia and around the globe, and this report sets out how we comply with the requirements of the Corporations Act 2001 and the steps we have taken to drive audit quality across our business.
Grant Thornton Australia has voluntarily produced an annual Transparency Report since 2008.
Click on the following links to view Transparency Reports from previous years:
