Grant Thornton International releases 2008 Transparency Report

Grant Thornton International has released its 2008 Transparency Report which shows an outstanding year in 2007 with combined global member firm revenue of US$3.5 billion, a 25% increase on 2006. This makes Grant Thornton International the fastest growing of the six largest global accounting organisations.

David McDonnell, chief executive officer, Grant Thornton International says, "Grant Thornton International has been the fastest growing global accountancy organisation for some time now and I believe we are in pole position to take advantage of the growth opportunities available today as businesses increasingly demand partner attention and consistency in approach and quality wherever they access the services of member firms. We have set ourselves some challenging financial objectives over the next few years and it continues to be our intention to achieve these through a combination of strategic acquisitions and strong organic growth. I'm delighted with the progress to date."

"This Transparency Report, aligned to the requirements of the EU 8th Directive, is a demonstration of Grant Thornton International speaking out on issues that matter both to the clients of member firms and to the wider public. It discloses information about financial performance, risk management and quality control systems. It outlines the requirements for membership of Grant Thornton International and the governance structure we have put in place to support the objective of delivering what member firms need to grow and succeed. This commitment to openness helps to demonstrate to clients, regulators and the wider public that Grant Thornton International is an organisation in which they can continue to have trust and confidence."

This is the fourth year Grant Thornton International has produced an annual review. While Grant Thornton International is an umbrella organisation that does not deliver services directly to clients, this report was compiled within the spirit of the Directive and is available online at www.gti.org. For the first time, the online version also carries information relating to the legal structure, governance and quality control systems of some of the largest member firms within Grant Thornton International.

Some of the 2007 growth highlights

Grant Thornton member firms in both the UK and Ireland merged with their local RSM Robson Rhodes firms, improving both firms' positions in the market. The firms' revenues increased to $749,804,000 and $54,854,000 respectively. The US member firm was the fastest growing accountancy firm in the US with organic growth of 16%, increasing its revenue to $1.1bn. Grant Thornton member firms in emerging markets also showed high organic growth in 2007. For example, Brazil increased by 65% to $32,694,000. The member firm in Hong Kong grew by 90% to $45,681,000, a combination of organic growth as well as the addition of six partners and 80 employees from Moores Rowland.

For further information please contact:

Jess Koslow
Senior PR Executive
Grant Thornton International
T: +44 (0)207 391 9564
M: +44 (0)7989358864
E: jessica.koslow@gtuk.com

About Grant Thornton International

Grant Thornton International is one of the world's leading organisations of independently owned and managed accounting and consulting firms. The strength of each local firm is reflected in the quality of our organisation. All Grant Thornton International member firms share a commitment to providing the same high quality service to their clients wherever they choose to do business.

Grant Thornton International does not deliver services in its own name. Each member and correspondent firm of Grant Thornton International is a separate independent national firm. These firms are not members of one international partnership or otherwise legal partners with each other, nor is any one firm responsible for the services or activities of any other. Each firm governs itself and handles its administrative matters on a local basis.

All references to Grant Thornton International are to Grant Thornton International Ltd. Grant Thornton International Ltd is a non-practicing, international umbrella entity organized as a private company limited by guarantee incorporated in England and Wales.