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Grant Thornton Welcomes European Parliament’s Plenary Approval of European Audit Market Reforms

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© Business Wire 2014
2014-04-03 12:51:02 -

Grant Thornton welcomes the European Parliament’s plenary approval of the Regulation and Directive to reform the European audit market, which will substantially address investor concerns over auditor communication, long tenure, and excessive volume of non-audit services.

“We welcome the agreement as helpful to European investors and we anticipate that the measures will have long-term, meaningful impact,” said Ed Nusbaum, Grant Thornton global CEO.

“The audit reform discussions in the EU, the UK, the Netherlands, India and elsewhere have raised the profile of investor concerns. It is clear that some companies have noted the concerns and are already reacting accordingly, but addressing these concerns in the law ensures that there will be change across the European market and that change will be permanent.”

About Grant Thornton

Grant Thornton is one of the world's leading organisations of independent assurance, tax and advisory firms. These firms help dynamic organisations unlock their potential for growth by providing meaningful, forward looking advice. Proactive teams, led by approachable partners in these firms, use insights, experience and instinct to understand complex issues for privately owned, publicly listed and public sector clients and help them to find solutions. More than 35,000 Grant Thornton people, across over 100 countries, are focused on making a difference to clients, colleagues and the communities in which we live and work.

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