Leadership and governance

In 2025, Grant Thornton UK welcomed private equity investment as part of a strategic transformation to strengthen its market position and accelerate growth. As part of this change, the firm’s audit and non-audit businesses were separated into two distinct legal entities: Grant Thornton UK LLP and Grant Thornton UK Advisory and Tax LLP (together referred to as “Grant Thornton UK” or “the firm”). This structure was designed to ensure the independence of the audit practice, and comply with regulatory requirements, while enabling greater flexibility for the advisory and tax practice.

Grant Thornton UK LLP (“GTUK LLP”) retained the audit business, with audit partners continuing to hold the majority of voting rights to safeguard audit quality and independence. The Advisory and Tax practice was transferred to Grant Thornton UK Advisory and Tax LLP (“GTUKAT LLP”), a newly established entity whose members include audit partners, non-attest partners, and the private investor, who holds the majority stake.

As a result of the transaction, the firm’s leadership and governance structure evolved. The Strategic Leadership Team (“SLT”), chaired by the CEO, is responsible for setting and delivering the firm’s overall strategy and growth plan.  The Head of Audit, with the support of her Audit Leadership Team (“ALT”), is responsible for the development and delivery of the audit strategy and growth plan. 

The SLT oversees and manages the firm‑wide operations and infrastructure (which both the audit and the advisory and tax practices have the right to use), including functions such as people, finance, technology, marketing, quality and risk, legal and ethics.

The SLT is overseen by an Investor Board (“the Board” or “Pacioli Board”), which comprises investor members, partner members and non-executive directors. The ALT is overseen by the Audit Oversight Board (“AOB”) which comprises partner non-executives and independent non-executives (“INEs”). The AOB works in conjunction with the Public Interest Committee (“PIC”), a committee comprised entirely of INEs, to oversee matters relating to the public interest.

Our structure (opens in new tab)

A number of sub-committees play crucial roles in overseeing the firm.

Risk and Audit Committee (“RAC”)

• A subcommittee of the Pacioli Board. The RAC oversees the firms' risk management and external audit processes.

Remuneration Committee

• A subcommittee of the Pacioli Board. Oversees the partner remuneration allocation process as it applies to partners in the advisory & tax practice.

AOB Remuneration Committee 

• A subcommittee of the AOB. Oversees the partner remuneration allocation process as it applies to partners in the audit practice.

AOB Nominations Committee 

• A subcommittee of the AOB. Responsible for the appointment, induction and succession of INEs on the AOB. 

Independent Non-Executives and Non-Executive Directors 

• Independent Non-Executives (INEs) and Non-Executive Directors (NEDs) are incorporated into the firm’s governance framework in a manner that enables them, collectively, to exercise effective and appropriate governance, as detailed in the Terms of Reference.
• INEs are a key part of the overall governance of the organisation, enhancing its performance in meeting the purpose of the Audit Firm Governance Code (AFGC) where applicable, and ensuring that operations are aligned to the public interest and that the quality of audits is maintained and improved.
• INEs and NEDs are invited to partners’ meetings and meetings with the CEO, and other leadership as appropriate. 
• Our INEs have the right to report a fundamental disagreement, the procedure for which is set out here Fundamental Disagreement Procedure [ 144 kb ].
   

The Terms of Reference guide the governance bodies of both firms and, where relevant, outline the governance connectivity between them to ensure alignment and accountability across the firm. The Terms of Reference of the governance bodies can be found below.

• Strategic Leadership Team [ 200 kb ]
• Audit Oversight Board [ 626 kb ] 
• Risk and Audit Committee [ 1046 kb ]
• AOB Remuneration Committee [ 627 kb ] 
• AOB Nominations Committee [ 623 kb ] 
• Public Interest Committee [ 812 kb ]