Funding of Grant Thornton

Grant Thornton is funded by annual contributions from the member firms. The approved budget determines the aggregate annual contribution which is allocated to member firms in proportion to the member firm’s turnover for the 12 months ended 30 September.

The GLB submits a proposed budget for the following calendar year to a committee of the board for scrutiny and approval. The board agrees the final budget and the level of member firm contributions required to meet the budget.

The Grant Thornton budget funds the following global activities: 

• salaries and related costs for the chair of the board of governors, members of the GLB and the other personnel of Grant Thornton 
• costs relating to travel and expenses incurred as a result of the activities of the board of governors, GLB, and visits with member firms 
• risk and regulatory matters infrastructure which includes, for example, the GIS and GTAR inspection programme 
• member firm development 
• service line support for global assurance, tax and advisory services (for example, audit software and related methodology training, development of tax training programme) 
• global public policy activities (for example, the organisation’s membership of, contribution to, or involvement with, IFAC, the International Accounting Standards Committee Foundation (IASCF), the International Valuation Standards Council, the Forum of Firms and the Global Public Policy Committee) 
• global marketing, brand and communications activities 
• global HR initiatives and practices (for example, the international partner development programme and the global talent mobility programme) 
• global IT support (for example, the technology platform and web team that support the public website gti.org and the global intranet gtinet.org).

Grant Thornton International Ltd financial statements are audited by Buzzacott LLP and submitted to Companies House in compliance with UK Company Law. The audit committee of the board is responsible for reviewing the audit process.