Grant Thornton wins Takeover Panel audit
The UK’s fifth largest firm wins auditor contract for the Takeover Panel
Grant Thornton has taken
over from PricewaterhouseCoopers as external auditors to the UK’s regulatory
body for takeovers and mergers – the Takeover Panel.
The firm suggested the audit move was a watershed, in that the Big Four would
usually do this kind of work.
Judith Newton, partner at Grant Thornton, said: ‘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.’
The Takeover Panel ensures all shareholders involved in takeover bids are
fairly treated and given the opportunity to decide on the merits of a takeover.
It consists of influential individuals from major financial and business
institutions