Grant Thornton International celebrates 25 years

Press Release 30 June 2005

Grant Thornton International is the longest same-name international accounting network

Grant Thornton International, the worldwide umbrella organisation of independent accounting firms is this summer celebrating its 25th anniversary. Believed to be the only international network to retain the same name during this period, Grant Thornton International now boasts 91 independent member firms in 88 countries, growing from 47 in 1980. The Grant Thornton name is now carried by over 70 per cent of independent member firms worldwide.

It all started in 1980 when Alexander Grant in the US joined forces with Thornton Baker in the UK to become the founding members of a new worldwide accounting organisation to be called Grant Thornton International. On 1 May 1980 the first agreement was signed by these two founder members and three other firms in Canada, the Netherlands and Mexico.

Table 1

Major milestones in the umbrella organisation's history include:

•  The launch of Horizon - a worldwide audit approach adopted by Grant Thornton International independent firms and introduced in 1996.
• A unique research programme among business owners beginning with the European Business Survey launched in 1991 and the International Business Owners Survey (IBOS) launched in 2002. In 2004 IBOS gained data from 6,000 business owners in 24 countries worldwide. 
• In 1998, Grant Thornton International established its International Business Centres (IBCs). Located in major commercial centres around the world, IBCs act as a gateway to the international service capabilities of all Grant Thornton firms. IBCs are led by experienced directors from Grant Thornton firms, who coordinate teams of experts to help clients expand into other countries and establish their long-term presence. There are now IBCs in 20 locations worldwide.

The number of staff working throughout the member firms of the organisation has steadily grown throughout the 25 years from 12,000 in 1980 to 20,486 in 2004.

Table 2

Member firm income has also grown steadily during the 25 year period from US$330 million in 1980 to a milestone US$1028 million in 1990 to US$2092 million in 2004.

Table 3