• Register
Return to: Home > News > Tax > Grant Thornton finds Brazilian member firm

Grant Thornton finds Brazilian member firm

Grant Thornton International has admitted Brazilian firm Pryor Consulting Services to its network only weeks after Ernst & Young poached previous member Terco.

Pryor Consulting Services has eight partners, 450 staff in five branch offices. The firm generates annual revenue of $16.5 million. The swift addition will go some way to plugging the gap left by Brazilian mid-tier market leader Terco, which has about 21 partners, 630 staff and annual fee income of $63 million.

Pryor Consulting Services, a former  member firm of DFK International, provides in accounting, tax and outsourcing services to more than 350 companies.

Grant Thornton International chief executive Ed Nusbaum said finding suitable Brazilian representation was important to the network.

“We are confident that our new member firm will provide distinctive client service to companies of all sizes operating in a dynamic and demanding economy, and believe Grant Thornton has a vital role to play in offering greater auditor choice to public interest entities locally and internationally,” Nusbaum said.

E&Y/Terco unionBig Four coverage icon

Ernst & Young confirmed earlier this month it will join forces with Terco, creating a firm with 3,200 professionals that has the second largest share of Brazil’s listed audit market.

The firm will be known as Ernst & Young Terco and the acquisition will become effective in October, subject to regulatory approval.

Ernst & Young Terco will have 11 offices in Sao Paulo, Rio de Janeiro, Porto Alegre, Curitiba, Blumenau, Campinas, Salvador, Recife, Brasilia, Belo Horizonte, Goiania.

Jorge Menegassi will be the firm’s chief executive and Luiz Frazão will be chief operating officer. Mauro Terepins, from Terco, will assume a vice-presidency role.

International Acocunting Bulletin understands Grant Thornton International was only made aware of the Terco buyout a few days before it was publicly announced.

Related articles

COMMENT: Back to the drawing board for Grant Thornton

E&Y acquires Terco Grant Thornton



Top Content

    Time pressure: Facing up to mental health

    In an ‘always on’ culture, it is becoming increasingly difficult to manage a healthy work-life balance. While companies are beginning to address this problem by introducing different support systems, Joe Pickard finds more could be done to ensure the wellbeing of the professions workforce.

    read more

    Venezuela: the race for the dollar

    With a new currency following hyperinflation, large sections of the population emigrating to neighbouring countries, an economy on the brink of collapse and no apparent solution coming from the government, Jonathan Minter finds a profession struggling to stay afloat in Venezuela.

    read more

    Brazil: transparency and control

    Brazilian accountants have an optimistic view of the impact of more-regular reporting and the implications of audit controversies for the profession. Paul Golden reports.

    read more

    Argentina: looking for a clearer view

    The Argentine accounting profession continues to grapple with the impacts of a weak economy and a culture of financial corruption. Paul Golden takes a closer look.

    read more

    Blockchain: adapting to disruptive tech

    In the relatively few years since digital currencies first began using blockchain technology, the array of potential applications has grown significantly – and continues to expand. Dan Balla, Matthew Schell and Dave Uhryniak from Crowe look at how it impacts accountancy.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.