09-21-2004, 01:00 AM
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Non Big 4 firms do audit banks, Insurance companies and other financial services. Take the example of Pakistan where some of the non Big 4 firms do audit the fiancial services sector. As for Grant Thorton, they have a seperate financial services assurance division in most of their bigger US offices and do cater to banks. I cannot say about the UK.. but since Grant Thorton is at the no.5 position (accountancy magazine, UK) in UK, it would be hard to believe that they have stayed away form a lucrative sector as Financial services.
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GT doesn't do audit for banking or insurance clients just simply because they tend not to accept the risk for less fees that banks offers to their auditors. It is just the way they have been doing business and perhaps (who knows) may well continue to do so.
DT
Non Big 4 firms do audit banks, Insurance companies and other financial services. Take the example of Pakistan where some of the non Big 4 firms do audit the fiancial services sector. As for Grant Thorton, they have a seperate financial services assurance division in most of their bigger US offices and do cater to banks. I cannot say about the UK.. but since Grant Thorton is at the no.5 position (accountancy magazine, UK) in UK, it would be hard to believe that they have stayed away form a lucrative sector as Financial services.
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GT doesn't do audit for banking or insurance clients just simply because they tend not to accept the risk for less fees that banks offers to their auditors. It is just the way they have been doing business and perhaps (who knows) may well continue to do so.
DT
