Grant Thornton member firms take first place in US and UK audit rankings
The first time a non Big Four firm has been ranked #1.
The US member firm of Grant Thornton International has taken first place in Public Accounting Report's annual audit rankings for 2008, the first time a non Big Four firm has been ranked No. 1. The rankings measure audit wins and losses by the major global accounting networks in the US throughout the year. Five audit engagement wins for companies each with over $1 billion annual revenue and 24 successful competitive pitches against Big Four firms gave Grant Thornton US the top spot.
In the UK, the Grant Thornton member firm maintained its leadership position for companies listed on AIM, the London Stock Exchange's international market for smaller growing companies and the most successful growth market in the world. Grant Thornton UK audits over 200 AIM companies, more than any other audit firm.
Ken Sharp, global leader - assurance services explained, "Here is further evidence of the increasing strength of Grant Thornton's audit expertise and reputation, in two key markets. It is widely acknowledged by investors, regulators and public companies that greater auditor choice in the world's capital markets is needed. The real driver of auditor choice is the market's confidence in an auditor's capability to deliver quality audits whatever the size, complexity or international reach of the client. Results like this provide further evidence of our ability to compete globally with the Big Four."
Grant Thornton UK CEO, Scott Barnes has highlighted the importance of the Grant Thornton International network in his strategy for the development of the UK firm. He said, "The US and other international markets are becoming increasingly important for our clients and we are doing more work with an international flavour across our service lines. The Grant Thornton International network is the most cohesive outside the Big 4 and these US firm audit figures are further evidence of the network's strength."
