Quality control systems
One of the pillars of the global strategy is to support member firms in their delivery of consistently high quality client service worldwide. Quality control of assurance services is overseen by a worldwide director – quality control. Under his direction, member firms are provided with guidance on the design and implementation of their own quality control systems to support their compliance with all applicable international and local standards. He has specific responsibility for the global Grant Thornton Audit Review programme (GTAR).
National internal reviews
Member firms are expected to have established their own systems of quality control, in accordance with International Standard on Quality Control (ISQC) 1 “Quality Control for Firms That Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements”, that provide Grant Thornton International, other member firms and the member firm itself with reasonable assurance that its personnel comply with applicable professional standards and Grant Thornton International policies and procedures.
All member firms, no matter their size, are required to have an effective internal inspection programme in place. Grant Thornton International has developed a template for internal quality control review inspection. This template includes guidelines, work programmes, forms and a draft report, all of which have been benchmarked to ISQC 1 and made available to member firms.
National external reviews
In addition to periodic quality reviews by Grant Thornton International under the GTAR programme, some member firms also submit their audits for external inspection as part of their obligations to local regulators.
For relevant examples from selected member firms please choose a country:
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