National quality control systems

In addition to their own quality control procedures, Grant Thornton member firms are required to abide by a system of quality control that encompasses, at a minimum, the standards issued by the standard setting boards of the International Federation of Accountants, including:

International Standard on Quality Control 1 (ISQC) 1: Quality Control for Firms That Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements

International Standard on Auditing 220: Quality Control for Audits of Historical Financial Information

IESBA Code of Ethics for Professional Accountants.

Each member firm's system of quality control is designed to provide global and national management with reasonable assurance that audit engagements are conducted in accordance with applicable professional standards and global policies and procedures.

Member firms, no matter their size, are required to have an effective internal inspection programme in place that meets the requirements of (ISQC) 1. Member firms are provided with templates to assist them in adopting their internal quality control inspection. These templates includes guidelines, work programmes, forms and examples of reports, all of which have been benchmarked to (ISQC) 1.

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Grant Thornton International is a non-practicing, international umbrella entity organised as a private company limited by guarantee incorporated in England and Wales. References to "Grant Thornton" are to the brand under which the Grant Thornton member firms operate and refer to one or more member firms, as the context requires. Grant Thornton International and the member firms are not a worldwide partnership. Services are delivered independently by the member firms, which are not responsible for the services or activities of one another. Grant Thornton International does not provide services to clients.