Grant Thornton International increased its global revenues by 10.4% to $4.2bn in the year to 30 September 2012 . In local currency the network’s revenues increased by 13.2% and in Euros by 18.8%.
With its double digit growth Grant Thornton International affirms its position as the sixth largest accounting network globally and joins BDO International in reporting higher global growth in 2012 than the Big Four. BDO International saw its revenues increase by 14% to $6.01bn in the year to 30 September 2012. Among the Big Four PwC’s revenues were up 8%, Deloitte’s by 8.6%, Ernst & Young by 7.6% and KPMG’s by 1%.
For Grant Thornton International this is the second time in the past 10 years that its global growth had exceeded the one of the Big Four, according to International Accounting Bulletin data.
Grant Thornton’s announcement also confirms that all of the top six networks globally have reported in the black this year despite many quoting challenging market conditions as the global economic downturn continues.
The firm said it recorded growth through all of its service lines: 11% in assurance to $1.9bn, 9% in tax to $0.9bn and 18% in advisory to $1.1bn.
Grant Thornton International also had strong growth across all regions with highest growth, 33%, across Asia-Pacific. The firm said that was partly down to M&A activity in Australia and China.
In Latin America the firm increased its revenues by 20%, 7% in North America, 8% in Europe and 18 % in the Middle East.Globally the firm increased its workforce by 14% to 35,809 in 124 countries.
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