Grant Thornton posts annual revenues of US$4.7 billion
With a presence in 142 countries, Grant Thornton International closed its financial year as at 30 September 2016 with an increase in annual revenue of 3.3% to $4.78 billion, or 7.8% when reported in local currencies.
A considerable increase was also registered in the firm’s headcount which now stands at 47,000 people, an increase of over 11.4% when compared to 42,000 at the end of 2015. The largest increase took place in the Asia Pacific with 27% growth.
Looking at Grant Thornton’s performance by service line, it is worth noting that tax has seen the fastest growth, both in terms of people and revenue. As at September 2016, assurance services accounted for approximately 42% of total revenue, followed by advisory (35%) and tax (21%).
2016 also saw Grant Thornton reconfirming its status as a leading global employer, which is also thanks to a number of initiatives undertaken by the firm to attract and retain the best talent. Just recently, the US firm received a perfect 100 percent score on the Human Rights Campaign Foundation’s 2017 Corporate Equality Index (CEI) – a national US benchmarking survey and report on corporate policies and practices related to LGBT workplace equality. Grant Thornton was also named one of the 50 World’s Most Attractive Global Employers by Universum, and was recognised as a top employer in numerous countries, including Canada, Sweden, Mexico, the UK and US.
The international firm saw new member firms joining in Bosnia and Herzegovina, Croatia, Rwanda and Slovenia, coupled with M&A expansions in Canada, Czech Republic, Estonia, Georgia, Hong Kong, Hungary, Israel, Romania, South Korea, Sweden and US.
From a development standpoint, Grant Thornton has also introduced interactive audit training as well as innovative tax and advisory academies. The organisation’s focus on the culture journey and the people experience introduced in 2015, along with its ongoing contribution to local communities through CSR initiatives, have been instrumental in establishing the firm’s reputation in the marketplace. Throughout the year, Grant Thornton has also continued to build its infrastructure through stronger tools and major investments in technology.
Ed Nusbaum, Global CEO of Grant Thornton International, attributes the success of the organisation to its 47,000 people and the strong commitment made by the firm in its team. “In 2016 we have continued to place both our people and our clients at the heart of our global strategy, allowing us to build on our quality, focus on our foundations to create sustainable growth for the future, as well as invest in our most important asset – our people.”
And what about 2017? According to Nusbaum, 2017 is expected to be a spectacular year for the firm which will see an increased accent on innovation and new ways to deliver a more unique and valuable suite of services and capabilities to unlock growth and create superior value for the firm’s client base.