Client acceptance/reacceptance

Member firms are required to comply with global policies and procedures addressing acceptance and reacceptance of clients. Certain potential/ existing assurance clients require approval by Grant Thornton International.

Assurance client acceptance review committee
The assurance client acceptance review committee is charged with reviewing and approving member firms’ key assurance assignments. This committee is chaired by the executive director - risk and regulatory matters and is comprised of the worldwide director - quality control and certain member firm risk management/quality control partners nominated by their firms’ managing partners. The committee members represent a geographically dispersed set of member firms. The committee only reviews assurance acceptance and reacceptance submissions from member firms that meet one or more risk criteria. These criteria, which are reviewed regularly, cover a variety of potential key risks, including the size of the potential/existing assurance client, the amount of fees expected to be generated from the assignment, potential reputational issues that may impact the Grant Thornton brand and the member firm’s recent prior experience with listed entities or with a particular industry. Key assurance assignments are reviewed by the committee every three years. Grant Thornton has identified about 300 key assurance assignments performed by member firms.

Find out more about risk management procedures.