Accountancy firm Grant Thornton has been named as the new external auditor for the Takeover Panel, a role previously fulfilled by rival firm PricewaterhouseCoopers .
The Takeover Panel contract means Grant Thornton is now the external auditor for three major regulatory bodies - the Financial Services Authority (FSA) and Institute of Chartered Accountants in England and Wales .
Judith Newton, partner at Grant Thornton, said it was "impressive" for a firm to have won the job from the clutches of the ‘Big Four’ and suggested that it was an indication that the ‘Big Four’ can no longer expect to have a hold on the most prestigious public sector audit jobs .
"The tide is definitely turning in that the major abilities of a small number of other audit firms are being considered for significant public audit work," she said.
Grant Thornton was recently named Auditor of the Year (Outside the Big 4) at the Real FD/CBI Finance Directors' Excellence Awards after receiving the best feedback from a nationwide customer service survey of companies.
Grant Thornton Handed External Auditor Role For Takeover Panel
Thu, 24 Apr 2008
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