Grant Thornton reports record revenue of $1.9B
Grant Thornton reported Monday , Sept. 23 that its U.S. firm achieved a record level of revenue in fiscal year 2019, surpassing $1.9 billion, a year-over-year increase of 5.4 percent.
“We posted historic revenues last year — in part by doing what has always made us strong: delivering exceptional value to clients through high-quality audit, tax and advisory services,” said Grant Thornton interim CEO Bradley Preber in a statement. “By combining technology solutions with business knowledge, we’re helping clients drive efficiencies, lower risk and improve quality.”
The firm didn’t specify which practice areas experienced the most revenue growth, but it pointed to its moves in the past year in the consulting and technology space. Last October, Grant Thornton acquired TayganPoint Consulting Group, a Philadelphia-based consulting firm, to expand its advisory services for clients in the health care and life sciences industries.
GT also debuted a cloud-based system that allows more collaboration among its teams and clients. In addition, the firm introduced client tools for lease accounting and analytics, along with automated tax-credit processes for clients engaged in research and development. Grant Thornton launched a learning program for its tax professionals to help them offer high-tech solutions for clients, anticipate regulatory updates and expand beyond traditional tax compliance services.
The firm also pointed to its latest regulatory report highlighting its audit quality and introduced a whole-ledger analytics system to improve audit quality and efficiency.