Funding of Grant Thornton International

Grant Thornton International is funded by annual contributions from the member firms. The annual contribution is calculated as a percentage of a member firm’s turnover for the 12 months ended 30 September.

The Global Leadership Board submits a proposed budget for the following calendar year to a sub-committee of the Board of Governors for scrutiny and approval. The Board of Governors agrees the final budget and the level of member firm contributions required to meet the budget.

The Grant Thornton International budget funds the following global activities:

• salaries and related costs for members of the Global Leadership Board and the other personnel of Grant Thornton International;
• costs relating to travel and expenses incurred as a result of the activities of the Board of Governors, Global Leadership Board and visits with member firms;
• risk and regulatory matters infrastructure which includes, for example, the organisation’s Global Independence System and Grant Thornton Audit Review inspection programme;
• member firm development;
• service line support for global assurance, tax, specialist advisory services and privately held business 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, the IFAC, the International Accounting Standards Committee Foundation (IASCF), the Forum of Firms, the Global Public Policy Committee); 
• global marketing, brand and communications activities;
• global HR initiatives and practices (for example, the international partner development programme, 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 accounts are audited by independent auditors and submitted to Companies House in compliance with UK Company Law. The audit committee of the Board of Governors is responsible for reviewing the audit process.