PracticeAuditPublic audit competition concerns don’t wash with GT

Public audit competition concerns don't wash with GT

TS WAS CONFUSED by Grant Thornton’s enthusiastic espousal of public audit as a market where choice and competition thrive.

Only last week, the second-tier firm was berating the Big Four for hogging the largest audits, bemoaning their dominance and the difficulty of breaking into the gang.

But it seems GT is happy with a public audit market where just five firms look after local government bodies.

It was quick to rush to the defence of the beleaguered Audit Commission, praising its success at helping smaller firms secure a slice of public audit pie.

Looks like the difference between a non-competitive market and one where choice reigns supreme is just one firm, and its name is Grant Thornton.

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