Criteria for membership

In addition to considering the reputation of a prospective firm and its adherence to the highest professional standards, Grant Thornton International has developed a set of strict criteria that must be met by prospective entities before they can be considered for membership within the organisation.

Before being accepted as a member within Grant Thornton International, a firm is subject to strategic and other quality assurance reviews by Grant Thornton International to determine whether the criteria below are met. Admission as a member is dependent on the successful outcome of these reviews and the execution of the Grant Thornton International member firm agreement and name use agreement. Member firms must abide by all current Grant Thornton International policies and standards across all disciplines.

• member firms must have sufficient resources (where appropriate with help from other member firms) to meet the core service requirements that Grant Thornton International expects a firm to perform as a condition of membership. These core service requirements may vary at times among the member firms. 
• member firms must be able to communicate effectively in English.
• member firms must be able to afford the cost of membership within Grant Thornton International financially and in terms of the time commitment.
• member firms’ primary market focus must be in line with that defined by Grant Thornton International including, at its essence, the development and servicing of international business.
• member firms must provide one or more of the following services: assurance, accounting, tax or specialist advisory services.
• every member firm must have a system of quality control that provides both Grant Thornton International and other member firms with reasonable assurance that:
• its personnel have an appropriate level of competence and experience to comply with applicable professional standards;
• its engagements are performed in accordance with applicable professional standards;
• its leadership demonstrates and supports quality and promotes a culture of high quality performance;
• its reports related to services performed are appropriate to the circumstances; and 
• it complies with local ethical standards as well as the International Federation of Accountants’ Code of Ethics.

All member firms are subject to the same global monitoring policies, procedures and practices. Member firms that do not meet expectations are subject to remedial actions by Grant Thornton International. These actions can include additional training, concurring reviews from outside the member firm, additional monitoring of referral work or temporary prohibition of receiving referred work, the imposition of a financial charge, suspension and, for those firms that continue not to perform up to expectations, expulsion. The Global Leadership Board is responsible for agreeing remedial action plans. The imposition of a financial charge and expulsion of a member firm require approval from the Board of Governors. The member firms have exclusive power to take the actions they deem appropriate respecting their individual partners and employees.