Grant Thornton reached record combined global revenues of US$4.7 billion, achieving 4.6 percent growth in U.S. dollars (or 4.9 percent in local currency terms) for the fiscal year ended Sept. 30, 2014.
“I am proud of our organization's achievements in 2014 and all credit goes to our 40,000 people in 130 countries who every day are making a difference with clients, in their workplace and in their community,” said Grant Thornton International Ltd. global CEO Ed Nusbaum in a statement. “Our goal going into 2015 is to continue to provide high quality services to our clients and to help them, and our people, unlock their potential for growth.”
Outsourcing services at the firm grew 12.4 percent to US$291 million. Advisory services grew 4.8 percent to $1,373 million. Assurance services increased 3.5 percent to $2,027 million. Tax services grew 2.7 percent to $950 million. Other services provided by the firm increased 31.7 percent to $88 million.
Revenues in the Americas grew 2.8 percent to US$2,096 million. Europe revenues increased 6.3 percent to $1,861 million. Asia Pacific revenues grew 3 percent to US$583 million. Africa revenues grew 6.3 percent to $106 million. Middle East revenues rose 14.7 percent to $40 million. Revenues in the Commonwealth of Independent States that formerly comprised the Soviet Union grew 51.5 percent to $41 million.
GT added new member firms in Afghanistan, Belize, British Virgin Islands, Cambodia, Myanmar, Pakistan, Russia, Singapore and Tanzania in the past year. The network also saw M&A expansions in Australia, Brazil, Canada, Channel Islands, China, Cyprus, Isle of Man, Italy, Japan, Norway, Poland, Slovak Republic, South Africa, Sweden, Spain, Switzerland, Taiwan, Thailand, the United Kingdom and Vietnam.
Separately, the U.S. firm, Grant Thornton LLP, announced Monday that Billy Moore, 62, will become the new CFO of Grant Thornton LLP, effective Aug. 1. He will succeed Russ Wieman upon his retirement from the firm.
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