Foreward from the CEO
We understand responsibility – it is one of the core values that
underpin our business. Recognising the impact we have on our
clients, people and society is fundamental to building a
sustainable future. That’s why we are committed to maintaining
trust in our firm by acting with integrity, openness and
accountability. Leading from the top, our strategy and priorities
are shared with everyone in our firm. Each person has clarity on
how they fit into the delivery of our strategy and their personal
responsibility for its delivery.
Underlining this commitment is a desire to exceed the standards
set by the drivers of audit quality within the Financial Reporting
Council’s (FRC) framework. The FRC is committed to improving
competition and choice in the UK public company audit market, and
at Grant Thornton we share that commitment and remain ready,
willing, and able to perform more public company audit work. The
FRC’s draft Audit Firm Governance Code consultation paper, the
‘Murray Report’, is a welcome addition to the debate around
competition and choice, and we support the aim of the Audit Firm
Governance Code.
Our interest in reporting guidelines doesn’t stop there: we have
welcomed the International Accounting Standards Board’s (IASB)
newly published International Financial Reporting Standards (IFRS)
for SMEs and the European Commission’s recent consultation paper on
the adoption of International Auditing Standards as massive steps
forward in the potential harmonisation and global adoption of
international standards.
Even in these uncertain times we continue to be committed to
attracting and retaining high quality people at all levels that are
proud to be part of the firm. The majority of our trainees that
qualify in audit with us, stay with us. We’re also investing for
the future by not significantly reducing our graduate recruitment
in 2009 at a time when others in our industry have cut back. We
believe in our future and are committed to investing in our people
and our brand in order to maintain our leading position in our
marketplace.
Scott Barnes
Chief Executive Officer