If You Are Planning to Work for Grant Thornton in Hawaii, Think Again.

Posted May 24th, 2010 by admin & filed under Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Financial Reporting and Analysis, Financial Statement Analysis, Fraud Accounting, IFRS, Intermediate Accounting, International Accounting, Managerial Accounting.

Accounting firm Grant Thornton is leaving the Hawaiian market this summer after more than 50 years, and selling its practice to two of the firm’s audit partners from the Honolulu office. Several established Big Four firms have preceded Grant Thornton in this exodus, including PricewaterhouseCoopers, who left in 2006 after 55 years.

Questions:

1. What is the PKF network?

2. Since PricewaterhouseCoopers (PWC) has a major audit of the Hawaiian Electric Industries (HEI) coming up this year, but no offices in the state, how are they planning to do the work? What is probably the biggest reason that HEI went with PWC over a local accounting firm?

3. What is the reason that large accounting firms have left or are leaving Hawaii?

Source:

Magin, J.L. (2010). Grant Thornton Hawaii Office Changing Hands, Pacific Business News , May 14 (Retrievable online at http://pacific.bizjournals.com/pacific/stories/2010/05/17/story1.html?b=1274068800^3357501)