By Lars Mucklejohn Accountancy firm Grant Thornton has been cut from the industry watchdog’s top tier of audit supervision after removing a number of high-profile clients. The Financial Reporting Council demoted the firm from “tier one” to “tier two” status last year, according to regulatory filings from July, which were first reported by the Financial Times today. Firms in the lower tier are subject to inspections of their “public interest entity” (PIE) audits every three years, rather than annually. Grant Thornton, the UK’s sixth-largest accountancy firm, removed more than 70 per cent of “pu…