IFRS Foundation swaps BDO for GT as auditors

IFRS Foundation swaps BDO for GT as auditors

IFRS Foundation recruits Grant Thornton as auditor after it asks BDO to step down following 11 years in the role

GRANT THORNTON has won the external audit contract of the body that oversees the work of global accounting standard setter the IASB.

GT succeeds BDO as auditors of the IFRS Foundation. BDO, which held the contract for 11 years, will continue to provide the IFRS Foundation with corporate tax services for its UK and US arms.

Following a competitive tender process conducted by the Foundation’s audit and finance committee, and involving seven firms, the trustees announced the appointment this week.

The decision was approved at the October meeting in Frankfurt.

The IFRS Foundation is an independent not-for-profit organisation which aims to create a single set of globally accepted financial reporting standards through its standard-setting body the IASB.

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