Grant Thornton attacks Big Five
Grant Thornton has today launched an astonishing attack on the Big Five, claiming their monopoly over the mid-tier is 'dissolving in the face of increased competition' from middle market specialists.
The firm said the mid-tier was increasingly offering a range of services and an international network to rival the big guns.
It pointed out brands such as Harrods – which the firm recently won as a client after PwC resigned as the superstore’s auditor – were among a growing group of Grant Thornton clients which might previously have only considered working with the Big Five.
Simon Lowe, senior audit Partner at Grant Thornton said: ‘The gap between the Big Five and Grant Thornton is gradually starting to close as mid-corporate businesses increasingly recognise the value of the services that we can provide.’
He added: ‘As companies increasingly shift away from the anonymity of the large organisation, they welcome a service provider who genuinely values their business and an experienced team who is prepared to go that extra mile. We are now seeing a shift away as the market place become more competitive and clients demand a more personalised service.’