Grant Thornton delays its accounts amid partner pay fall

Accountancy firm Grant Thornton has confirmed it has adjusted its financial year end meaning it won’t be releasing its accounts before the end of the year.

The firm informed the FRC that it is changing its year end from June 30 to December 31.

The decision comes as, according to documents seen by the Financial Times, partner profits at the firm have fallen nearly 6% to £323,000 from £343,000.

A spokesperson for Grant Thornton UK LLP said: “The firm has decided to adjust its financial year end from 30 June to 31 December, as a later year end better matches the seasonality of our business and aligns with our global reporting commitments. This will not have any adverse impact on our people or clients.”

Earlier this month the firm confirmed it has parted ways with a “small number” of partners as part of a review of its operating structure. around a dozen partners are believed to have been let go, some of whom are said to have worked for the company for over 30 years.