Grant Thornton welcomes EU accounting reform progress
Grant Thornton welcomes agreement in principle between the co-legislators in Brussels as the proposals - as a package - will substantially address investor concerns over sparse communication from the auditor, long tenure of the auditor, and excessive volume of non-audit services provided to a company by its auditor.
“We welcome the agreement in principle as helpful to European investors and we anticipate that the measures will have meaningful impact,” said Ed Nusbaum, Grant Thornton global CEO.
“The auditor reform discussions in Brussels, the UK, India and elsewhere have raised the profile of investor concerns and companies have noticed and are reacting. Addressing these concerns in the law ensures that change will be across the market and that it will be permanent.”