Foreword from the CEO

Ed Nusbaum
Chief executive officer
Grant Thornton International

The 2010 Grant Thornton transparency report is a public statement to the clients of our member firms, to audit committees, regulators and the wider public of our commitment to provide high quality assurance services to organisations operating all around the world.

As part of a continuing focus on openness, the report aims to enable our many stakeholders to understand better our global organisation - our governance, our management structure and how Grant Thornton member firms throughout the world strive to deliver the highest possible quality assurance services. Our clients rightly expect us to have policies and procedures in place that mean the quality and level of service they receive from Grant Thornton member firms is not only exemplary but consistent, irrespective of where they operate.

This is the first year I have presented a transparency report in my new role as chief executive officer of Grant Thornton International. I see many challenges ahead as companies and governments continue to come to terms with today's economic landscape and find ways to rebuild confidence and grow strong economies. Grant Thornton is passionate about its role in serving the public interest and rebuilding the confidence of the world's capital markets.

Our combined global revenues to 30 September 2009 were $3.6 billion - steady for the year measured at constant exchange rates but a decline of 9% from 2008 when adjusted for exchange rate fluctuations against the US dollar. Our assurance services account for around 46% of our global revenues. Significantly, more than half of our global revenues are now generated by member firms outside of the UK and US, with China and Brazil now amongst the 12 largest countries by revenue in the organisation.

Our role is to convert this global capability, focus on quality and reputation for distinctive client service into greater market share for Grant Thornton member firms and for the 30,000 people who have committed to making a difference for our clients and the global community.

Ed Nusbaum
Chief executive officer
Grant Thornton International Ltd
April 2010