Grant Thornton has ramped up its expansion efforts in Japan, Italy, Paraguay, Bangladesh and Ethiopia.
"We welcome these firms to Grant Thornton, joining more than 35,000 people in over 120 countries in our mission to help dynamic companies unlock their potential for growth," Grant Thornton International global CEO Ed Nusbaum said in a statement. "We will continue to look for opportunities to better service clients, including future mergers and acquisitions with high quality organizations.”
In Japan, Grant Thornton merged with Kasumigaseki Audit Corporation, previously the core audit service provider for Baker Tilly Japan, strengthening its audit capabilities in the country. The Kasumigaseki Audit Corporation is well established in its local market and brings a strong client list.
In Italy, Ria Grant Thornton merged with the audit and assurance operations of a local auditing firm, Prauditing Srl, previously with the Moore Stephens network. The merger adds more than 20 professionals to the firm, including two new partners, and revenues of around $1.9 million. The merger will also increase the geographical coverage of Ria Grant Thornton, adding offices in Verona and Vicenza.
Grant Thornton Paraguay doubled in size following its merger with a former Baker Tilly member firm with strong experience in audit for the agribusiness, industrial and financial sectors. This was a strategic move that aligns with plans for Grant Thornton to be one of the top five accountancy firms in the region in future.
In Bangladesh, a joint venture between Grant Thornton Pakistan and Howlader, Yunus & Co. has established an advisory services practice bringing together over 100 staff spanning two offices and offering services to a variety of industries including major banks, financial institutions, public corporations and family businesses.
Building on its presence throughout Africa, Grant Thornton firms in Oman and Yemen merged with AW Thomas, an Ethiopian accountancy firm to create a new firm in the region. The new firm offers primarily audit services, with some tax and consultancy services.
