TORONTO--(BUSINESS WIRE)--Grant Thornton1 posted stronger growth in 2012 (5.8%) than the other largest global accounting networks operating in Canada, according to the accounting trade journal The Bottom Line, which has just published its annual “Top 30” issue. Globally, this past year also saw Grant Thornton International grow faster (10.4%) than the other largest global accounting networks in rankings published by the International Accounting Bulletin.
The news of strong growth comes on the heels of Grant Thornton International Ltd being named the International Accounting Bulletin's “Network of the Year” at an award ceremony recently held in London, England. The award, which was judged by an independent panel, was based on a firm's ability to demonstrate their strength across a number of key areas including: evidence of top-level network-wide audit quality; a strengthened position in strategically important markets; and strong industry leadership.
Phil Noble, Executive Partner and CEO of Grant Thornton LLP, said, "Grant Thornton has an exceptional reputation in Canada and globally for helping dynamic businesses achieve their growth goals. And our own trajectory in Canada, together with the recent international recognition, provides clear evidence of our high levels of client service and strong market positioning.”
In fact, despite the challenges of the continued softness in the economy and pricing pressure in the audit and assurance market, the past two years have been a time for strong firm-wide growth in Canada. In 2011, Grant Thornton grew by 11.5% in Canada and had aggregate revenues exceed the $500 million (CAD) threshold for the first time.
Grant Thornton achieved this strong result in a challenging economic year through a combination of organic growth and continued success in attracting like-minded firms to join the firm, including firms based in Saint John, New Brunswick; Halifax, Nova Scotia; Winnipeg, Manitoba, St. Catharines, Ontario and, just recently, Georgetown, Ontario.
“We often see situations where businesses are underserved by their current professional service provider and we pride ourselves on being agile in responding to those opportunities,” continued Noble. “In fact, it is often our ability to respond with agility that allows us to be successful. Fee growth in 2012 was seen across all service lines, with the largest growth achieved in our advisory services group, particularly in our Restructuring and Reorganization practice.”
Another great achievement is the fact that Grant Thornton LLP has been recognized as one of Canada's Best Workplaces by the Great Place to Work Institute for the last six consecutive years, ranking highest amongst accounting firms in both 2012 and 2013.
“We couldn’t be more proud of all of these accomplishments,” concludes Noble, “which are all a credit to the talent of every member of the highly-engaged Grant Thornton team.”
About Grant Thornton LLP in Canada
Grant Thornton LLP is a
leading Canadian accounting and advisory firm providing audit, tax and
advisory services to private and public organizations. We help dynamic
organizations unlock their potential for growth by providing meaningful,
actionable advice through a broad range of services. Together with the
Quebec firm Raymond Chabot Grant Thornton LLP, Grant Thornton in Canada
has approximately 4,000 people in offices across Canada. Grant Thornton
LLP is a Canadian member of Grant Thornton International Ltd, whose
member firms operate in close to 100 countries worldwide.
*All references to Grant Thornton International in the press release are to Grant Thornton International Ltd. Grant Thornton International Ltd is a non-practicing, international umbrella entity organized as a private company limited by guarantee incorporated in England and Wales.
1 Grant Thornton refers to Grant Thornton LLP and Raymond Chabot Grant Thornton LLP
