grant thornton international transparency report 2012 gti... · • maintenance of a system of...

GRANT THORNTON INTERNATIONAL

Transparency report 2012

Contents

01 Foreword

02 Governance and management

– Governance

– Management

06 Risk management

– Member firm admissions

– Independence policies, guidance and training

– Global independence system (GIS)

– Relationship checking

– Complaints and dispute resolution process

09 Audit quality

– Client acceptance/continuance

– Global audit methodology and technology

– Global IFRS resources

– Audit quality monitoring

– Engagement with regulators

15 Financial information

16 Grant Thornton around the world

Transparency report 2012 1

Foreword

ED NUSBAUM CHIEF EXECUTIVE OFFICERGRANT THORNTON INTERNATIONALMARCH 2012

The 2012 Grant Thornton international transparencyreport is a public statement of our commitment toprovide high quality assurance services toorganisations operating throughout the world.

This report is designed to help our manystakeholders (including clients, audit committees,regulators and the general public) understand ourglobal organisation – our governance andmanagement structure and how Grant Thorntondelivers high quality assurance services throughoutthe world. Our stakeholders rightly expect us to havepeople, processes and technology in place that resultin quality service regardless of where we operate.

Our combined global revenues for the year to 30 September 2011 were $3.8 billion, an increase of 3.1% from 2010. Assurance servicesaccounted for approximately 45% of that total or $1.7 billion.

Despite the continued troubles faced by the global economy, I am delighted that GrantThornton has achieved growth in 2011 across allregions and service lines and, in some countries, by significant margins. We knew 2011 would beanother challenging year but we continued to invest in our global network through mergers and acquisitions. We have an ambition to earn a reputation as the leading business advisers todynamic organisations by unlocking their potential for growth.

In 2012 we will continue to focus on quality and build upon our reputation for distinctive clientservice. Grant Thornton’s 31,000 people in over 100countries are committed to making a difference forclients, other stakeholders and the globalcommunity.

2 Transparency report 2012

GovernanceBoard of governorsThe Board of governors (the Board) is the principaland overriding authority in Grant Thornton. TheBoard is a group selected from Grant Thorntonmember firms worldwide and exercises governanceon their behalf. The Board’s responsibilities include:• approving the global strategic direction and

policies of Grant Thornton as established by theChief executive officer (CEO)

• suspending the rights of, or expelling a memberfirm

• appointing and setting the remuneration of theChair of the Board

• appointing, evaluating performance and settingthe remuneration of the CEO.

Grant Thornton International Ltd (GTIL) is a private company limited by guarantee, incorporated in England and Wales. It is anumbrella organisation that does not provide services to clients. Servicesare delivered by Grant Thornton member firms around the world.GTIL and the member firms collectively are hereafter referred to as Grant Thornton. As at 30 September 2011, Grant Thornton consists of 108 independent professional services firms. Each member firm is a separate legal entity. Membership in the global organisation does notmake any firm responsible for the services or activities of other memberfirms. Member firms carry the Grant Thornton name, either exclusivelyor as part of their national practice names.

Chair of the BoardThe role of the Chair of the Board (the Chair) is aproactive role with a focus on ensuring that theBoard functions as a coordinated group with ahigh-performance culture and the appropriate levelof interaction with the CEO on global strategy,including but not restricted to provision ofdistinctive client service by our member firms.

The current Chair, Peter Bodin, was initiallyappointed for a two year period commencing 1 January 2010. Peter’s term was extended during2011 for one further year. The role of the Chair ispivotal to creating the conditions necessary for ahighly effective Board focused on our strategicglobal development.

Governance and management


Changes for 2012After a thorough review of the governancestructure and practices, the Board unanimouslyapproved a new governance framework effective 1January 2012. Some of the major features include:• the new structure achieves an increased range of

member firm representation, while maintainingthe Board at a manageable size from an overallperspective

• outside thought is introduced in the form ofexternal independent board members (up tothree)

• non-Board members will be eligible to serve onthe Board’s standing committees, resulting inincreased member firm involvement in thegovernance of Grant Thornton.

Peter BodinChair, Sweden

Ed NusbaumCEO, Grant Thornton

International

Robert QuantAustralia

Phil NobleCanada

Jean SchnobCanada

Daniel KurkdjianFrance

Klaus-Günter KleinGermany

Paul RaleighIreland

Satoru EndoJapan

Hector Perez AguilarMexico

Gerard MulderThe Netherlands

Scott BarnesUnited Kingdom

Terry BackUnited Kingdom

Stephen ChipmanUnited States of America

THE BOARD OF GOVERNORS AS AT 30 SEPTEMBER 2011

Management Chief executive officerThe CEO is appointed by the Board for an initialterm of five years and is eligible for successive termsof three years each. The CEO is appointed from apool of candidates.

The CEO is responsible for the leadership ofGrant Thornton. The role of the CEO includes thedevelopment and recommendation of globalstrategic priorities for ratification by the Board,together with overseeing execution of thesepriorities. The CEO has responsibility forappointing the Global leadership team (GLT),subject to the concurrence of the Board. The GLTassists the CEO in the execution of the globalstrategy. The CEO is regularly briefed by GLTmembers on recommended modifications to globalpolicies and procedures, including those governinginternational work for the assurance, tax andadvisory service lines.


AT 1 JANUARY 2012 THE GLOBAL LEADERSHIP AND WIDER LEADERSHIP TEAMS WERE COMPRISED OF:

We organise our actions around fouroperational priorities, in addition to the overarchingobjective of quality in everything we do:• fast and strategic growth• distinctive client service• best people• efficient operations.

Implementation of the strategy will build onstrategic frameworks, prioritised investments andgrowth strategies that are appropriate for ourchosen markets.

Functional leaders support the GLT in thedevelopment and implementation of the globalstrategy and comprise what we refer to as the Widerleadership team (WLT).

Global leadership teamThe GLT develops and drives the execution of theglobal strategy, and is chaired by the CEO. It is afull time management group dedicated to leadingthe global organisation in the successful executionof the strategy.

Pending his retirement, Alex MacBeathrelinquished GLT activities from 31 December2011. Paul Raleigh joined the GLT from 1 January2012 and is primarily responsible for assistingmember firms with implementing their strategy.

A critical role of the GLT is to work withmember firms in driving the execution of the GrantThornton global strategy. Our ambition is to beknown throughout the world as the leader inhelping dynamic organisations unlock theirpotential for growth.

Ken SharpGlobal leader – assuranceservices

Nigel RuddockGlobal leader – advisoryservices

Ian EvansGloballeader –tax services

Ed NusbaumChief executive

officer

GernotHebestreitGlobal leader –businessdevelopment& markets

Paul RaleighGlobal leader – strategicdevelopment & growth

Laurie KalmanGlobal head – people andculture

Ricky LawrenceExecutivedirector –

administration

Esther TeekenHead of finance

LaurenceKehoeChief legal counsel

Jon GeldartGlobal head– marketing

communications

Paul HerringGlobal head – strategy,

knowledge & riskmanagement

Rob McGillen Global head –informationtechnology

AprilMackenzieGlobal head –governance &public policy


Professional risks are managed by the riskmanagement function under the direction of theGlobal head – strategy, knowledge and riskmanagement, who also serves as a member of theERC.

The responsibilities of the global riskmanagement function include:• developing, communicating and maintaining

global policies and procedures designed to:− maintain independence and objectivity of

professionals, including policies relating toproviding non-audit services to audited entities

− establish minimum standards for clientacceptance and client continuance

• developing training programmes covering the items referenced above

• developing and maintaining technologysolutions to facilitate the effective and efficientexecution of the procedures referenced above

Risk management is an enterprise-wide activity managed by the EnterpriseRisk Committee (ERC) of the GLT and overseen by the Board. There isan overall focus on continuous improvement in quality of service delivery,procedures to monitor quality and the risk management methodology.

• monitoring the effectiveness of the design andoperation of member firms’ systems of qualitycontrol over providing high quality services.

The global practice functions have primaryresponsibility for the development, communicationand maintenance of global policies and proceduresregarding the delivery of professional services.

In addition, a Risk Management AdvisoryCommittee (RMAC) provides recommendations tothe ERC on the identification and management ofprofessional risks. The RMAC is chaired by theGlobal head – strategy, knowledge and riskmanagement. Membership of the RMAC includesleaders of quality control and independenceprogrammes, risk management leaders from severalmember firms and the Chief legal counsel.

Risk management


Independence policies, guidance and trainingGrant Thornton requires member firms to adoptglobal policies and procedures that are designed tosafeguard independence on assurance engagementsand identify circumstances that could pose aconflict of interest. The global independencepolicies and procedures are based on theInternational Ethics Standards Board forAccountants’ (IESBA) Code of Ethics forProfessional Accountants with supplements togovern compliance with our global independenceand international relationship checking processes.Member firms are also required to adhere to theirlocal regulatory requirements where morerestrictive.

Grant Thornton monitors compliance withthese policies. Member firms are required toidentify a partner with responsibility for overseeingindependence matters, including providing trainingand obtaining annual confirmations of compliancewith independence policies.

The increase in regulations and standards andthe growing volume of services provided tointernational clients by Grant Thornton have madecompliance with independence requirements acomplex process. A global independence team (ledby the Executive director – regulatory matters)assists member firms with these requirements. Theglobal independence team’s responsibilities include: • providing member firms with policy, guidance

and training relating to independence matters• communications designed to provide guidance

to member firms on interpreting, applying andcomplying with global policy or specific auditorindependence rules

• oversight, compliance monitoring and supportof the automated Global independence system(GIS)

• maintaining an international relationshipchecking process designed to provide reasonableassurance that non-audit services are notprovided to an audit client, or its affiliatewithout appropriate consultation with the auditpartner and, where applicable, the client’s auditcommittee

• providing member firms appropriateindependence consultation when dealing withcomplex international regulatory andindependence matters.

Member firm admissionsProspective member firms must meet a number ofcriteria in order to be considered for membership.The criteria for membership include: • the prospective firm’s reputation for quality and

its adherence to high standards• adoption of our global policies, procedures and

methodologies, including our methods andquality control systems for providing services toclients, our engagement protocols and our ethicsand independence policies

• maintenance of a system of quality control thatmeets or exceeds International Standards onQuality Control (ISQC) 1

• agreement to the periodic evaluation of theirsystem of quality control by our global qualitymonitoring teams.

Admission as a member firm is dependent on theoutcome of a due diligence process performed todetermine whether the prospective firm meets thecriteria for membership.

All member firms are subject to obligations setout in the Grant Thornton Member Firm andName Use Agreements and are required to abideby our global policies.


Global independence system Avoiding financial interests in an assurance client,or its affiliate, prohibited by the independence rulesis a key objective in maintaining the independenceof member firms and the client service engagementteams. To help individuals and member firmsachieve this objective, Grant Thornton uses the GIS– an automated tracking system that identifiesrestricted entities (issuers of publicly tradedsecurities in which financial interests are prohibitedor restricted). This information is made available toall personnel in all member firms.

Member firms’ partners, client-facing managers,spouses, spousal equivalents and dependents arerequired to maintain a record of their financialinterests in the GIS. The GIS monitors compliancewith the financial interest policies by comparingfinancial interests recorded in the system with aregularly updated list of restricted entities.Individuals and their compliance officer are notifiedby the system in the event a recorded financialinterest is in a restricted entity. The GIS provides amechanism to assist the individual in determining,based on the facts and circumstances, whether it isappropriate to hold the financial interest. Where itis not appropriate to hold the financial interest, itmust be disposed of.

GIS compliance monitoring is performed atboth the member firm and global levels.

Relationship checkingGrant Thornton policy requires member firms andprofessional personnel from all service lines tomaintain their objectivity when delivering servicesto clients. To avoid conflicts of interest and threatsto independence arising from the provision of non-audit services to audit clients or their affiliates, theidentification of any existing client relationshipsprior to accepting an assignment is essential.



Grant Thornton views auditquality as an essential element ofour business.

To that end, Grant Thornton provides resources toassist member firms in maintaining audit quality,including:• an audit methodology, with supporting state-of-

the-art software, that is used globally• policies and procedures contained in audit

manuals that are benchmarked againstinternational auditing, quality control,independence and ethics standards

• protocols that enable member firms to consultwith the global auditing standards team and, ifnecessary, with audit specialists in othermember firms

• protocols that enable member firms to consultwith our International Financial ReportingStandards (IFRS) help desk

• a comprehensive intranet service that includesup to date information for member firms onauditing, financial reporting, ethics andindependence standards and guidance onapplying them effectively.

Audit quality

AUDIT RESPONSIBILITY

AndrewWatchmanIFRS

Rick WoodInternationalauditingstandards

Keith NewtonAudit

technology

Jim StankerAudit qualitycontrol

Ken SharpGlobal leader – assuranceservices

Assuranceadvisorycommittee

AUDIT RESPONSIBILITY

Grant Thornton actively participates in theinternational financial reporting, auditing, ethicsand quality control standards-setting processes. Thepeople participating in these processes provideinsight and support to all of our assurancepersonnel. This interaction provides informationused in the development of our strategy,methodologies, training and risk managementprocesses.

The following diagram illustrates how theteamwork between member firms and the globalassurance function enables our member firms todeliver high quality audits.

Responsibility for the global assurance strategyrests with the Global leader – assurance services. Anadvisory committee supports the global leader withstrategy development and implementation. Thecommittee is composed of the heads of assurancefrom thirteen member firms, chosen for theirgeographic and/or demographic position in ourchosen markets. Committee members possess theknowledge, experience and authority required toeffectively develop and implement the strategy.

In implementing the strategy the global leader isalso supported by assurance functional leaders forIFRS; International Auditing Standards; audittechnology; and audit quality control. Eachfunctional leader is supported by advisorycommittees and team members comprised ofmember firm partners and managers who excel inthese subjects.


Auditing standards

Ethics and independence

Quality control

Clientacceptance

and continuance

Audit planning/riskassesment

Qualitymonitoring

Audit procedures anddocumentation

Communicateaudit results

Technology

Policies

Methodology

Guidance

Protocols

Training

Member firm

Member firm andGrant Thornton International

Grant Thornton International

Grant Thornton’s global audit methodologyprovides member firm audit teams with a clear anddirect link between identified financial reportingrisks, internal controls that address the risks andaudit procedures. This approach enables auditteams to judge how the current environmentimpacts an entity’s financial reporting, how theentity responded, and how to develop anappropriate audit response. The global auditmethodology includes integrated quality controlprocesses including, for example, policies andprocedures for engagement quality control review.

Grant Thornton applies the global auditmethodology using the Voyager suite: an integratedset of proprietary software tools. The suite includes:• Voyager™ – a tool for assisting audit teams in

the identification of financial statement risksand linkage to the processes and internalcontrols established to address those risks.Voyager also assists audit teams in documenting,evaluating and testing internal controls

• TBeam™ – a trial balance and workpapersoftware package that is fully integrated withVoyager, allowing audit teams to automaticallyupdate lead sheets for changes to the trialbalance, perform analytical procedures, evaluatemisstatements and create standard and customworkpapers

• Voyager Information System™ (VIS) – anapplication that provides member firms with theability to view information about theirassurance clients contained in Voyager files;manage and monitor concurring review policies;control and monitor the archiving process forannual and interim periods; and assist withstoring archived Voyager files

• Client acceptance™ – an application thatenforces policies and procedures that eachmember firm must adopt to accept a newassurance engagement.

Client acceptance/continuanceAchieving professional excellence means acceptingand retaining member firm clients that share GrantThornton’s objectives of quality and integrity.Grant Thornton’s global client acceptance/continuance procedures integrate with memberfirm policies. The acceptance/continuance processesprovide member firms with information to judgewhether the entity meets or exceeds necessarystandards of integrity and whether the member firmhas the capacity to perform a high quality audit.

Grant Thornton establishes Key assuranceassignment (KAA) criteria that member firms useto evaluate potential assignments. Member firmssubmit potential assignments that meet the KAAcriteria to an international review committee forconsideration.

The assurance client acceptance reviewcommittee reviews submitted KAAs to judgewhether the member firm has the ability to performthe audit with a high level of quality. Thiscommittee is chaired by the Executive director – quality control and is comprised of riskmanagement/quality control partners from adiverse group of selected member firms.

Global audit methodology and technologyEach year, further investment is made inmethodology development, technology, training,communications and guidance toward thecontinuous improvement of audit quality. In 2011,Grant Thornton made a significant investment ineducation by providing training to member firmsglobally. This training covered such items as qualitymonitoring, group audits, auditing revenue,analytical procedures and several other key auditquality topics. We enhanced our supporting audittools and provided member firms with bulletins oncurrent audit and accounting issues.


These materials, along with IFRS developments, arecommunicated via a network of designated IFRSchampions in member firms. As a core skill, IFRS isintegral to the Grant Thornton Audit Reviewprocess (discussed below). Any issues concerningIFRS are reviewed to determine if training oradditional guidance is necessary.

Audit quality monitoring A key component of our global strategy is topromote the delivery of consistent, high qualityclient service worldwide. To support this objective,Grant Thornton developed a dedicated qualitymonitoring programme to support the assurancepractices of the member firms. Under thisprogramme, member firms are provided withinformation on the design, implementation andoperation of their assurance practice quality controlsystems.

Global IFRS resourcesCapability in IFRS is a core skill. Grant Thorntonhas a full time global IFRS team that is responsiblefor promoting high quality, consistent applicationof IFRS throughout the global organisation. TheIFRS team is advised and supported by memberfirm IFRS experts, including an IFRSinterpretations group and a financial instrumentsworking group.

The IFRS team promotes consistencythroughout the world by:• offering training programmes including webinar

updates• operating an IFRS helpdesk service• publishing extensive technical and interpretive

guidance, newsletters and other tools andresources.


GTAR inspection teams review the conduct ofaudit work performed by each member firm. Theinspection process includes an evaluation of policiesand procedures of the member firm applicable to itsassurance practice, benchmarking those policies andprocedures against relevant policies and proceduresof the international organisation. The inspectionteam reviews financial statements, audit reports andengagement work papers and files. The inspectionteam also interviews partners and staff on variousmatters.

The GTAR inspection team members assesswhether a firm’s system of quality control isdesigned, implemented and operated to provide themember firm with reasonable assurance that themember firm and its personnel comply withprofessional standards and applicable legal andregulatory requirements; and the reports issued bythe member firm are appropriate in thecircumstances. These include leadershipresponsibilities for quality, ethics and independence,client acceptance and continuance, humanresources, engagement performance andmonitoring. The inspection team, as part ofevaluating engagement performance, also reviews asample of assurance engagements.

GTAR inspection team members use aproprietary Quality monitoring tool (QMT) torecord and track individual findings. Member firmmanagement is provided all of the individualfindings identified during the GTAR. This enablesthe reports to focus on overall conclusions. Thisapproach also provides an effective way ofcommunicating the detailed GTAR findings andresults to member firm management.

Upon the conclusion of each GTAR, the globalorganisation issues a report based on the inspectionfindings. The report on a firm’s quality controlsystem will be one of the following: • suitably designed and operating effectively (an

‘unqualified’ report)• suitably designed and operating effectively

except for one or more significant deficiencies,(an ‘except for’ report)

• having material weaknesses in the design oroperation of the quality control system, (an‘adverse’ report).

National quality control systems In addition to their own national quality controlprocedures, Grant Thornton member firms arerequired to abide by a system of quality controlthat encompasses, at a minimum, the standardsissued by the standard setting boards of theInternational Federation of Accountants, including: • International Standard on Quality Control 1

(ISQC1): Quality Control for Firms ThatPerform Audits and Reviews of HistoricalFinancial Information, and Other Assuranceand Related Services Engagements

• International Standard on Auditing 220:Quality Control for Audits of HistoricalFinancial Information

• IESBA Code of Ethics for ProfessionalAccountants.

Each member firm’s system of quality control isdesigned to provide global and nationalmanagement with reasonable assurance that auditengagements are conducted in accordance withapplicable professional standards and global policiesand procedures.

Member firms are required to have an effectiveinternal inspection programme in place that meetsthe requirements of ISQC 1. Member firms areprovided with templates to assist them in adoptingtheir internal quality control inspection. Thesetemplates include guidelines, work programmes,forms and examples of reports, all of which havebeen benchmarked to ISQC 1.

Grant Thornton Audit Review Each member firm is obligated to submit to aninspection of its quality control system, referred toas the Grant Thornton Audit Review (GTAR), atleast once every three years. The GTAR process isdesigned to monitor member firm compliance withprofessional standards and global audit policies andprocedures. The GTAR is conducted byindependent and suitably qualified partners andmanagers from other member firms under theoverall direction of the global audit quality controlleader.


Transparent reporting The GTAR programme is a key component of oursystem of quality control, and provides informationfor member firms referring work within thenetwork. To provide information to firms referringwork within the network, the first part of theGTAR report, which sets out the overall opinionand includes a description of any significantdeficiencies or material weaknesses in the memberfirm’s system of quality control, is available todesignated member firm representatives on theglobal intranet site.

Engagement with regulators Member firms are expected to maintain an open andconstructive relationship with their nationalregulators. This is consistent with our global policyof embracing external oversight, along with oursupport of a balanced public reporting of externalinspection programmes. As a major internationalprofessional services organisation, Grant Thorntonmeets regularly with the International Forum ofIndependent Audit Regulators (IFIAR) andcontributes regularly to the public debate on majorindustry issues.

When the GTAR identifies a deficiency, themember firm is expected to address the deficiencywithin a reasonable period of time and submitappropriate documentation. When follow-upactions are required by member firms to addressfindings identified during the GTAR, a further visitor remote assessment is made to review progress inimplementing these actions.

Synthesising and evaluating programme results There is a regular review of findings from theGTAR programme by the global leadership ofassurance to consider whether there are any changesthat should be made to training, audit methodology,tools or internal standards and guidelines regardingquality controls. A summary of the key findingsfrom the GTAR programme is communicated to allmember firms on an annual basis.

Remedial actionsOne of our principal responsibilities is the settingand maintenance of standards for continuedmembership in Grant Thornton. These standardsinclude compliance with professional, statutory andregulatory mandates governing the performance ofassurance engagements. There are global policies forremediating violations and deficiencies identified ina GTAR. These policies include graduated remedialactions, up to and including referring the firm to thecomplaints and dispute resolution process. The typeof remedial action recommended will depend onthe nature, severity and frequency of the violationor deficiency.



The aggregate revenues of Grant Thornton member firms for the year ending 30 September2011 were US$3.8 billion, which is an increase of 3.1% from theprevious year.

Revenues from Assurance services at $1.7 billionwere 1.4% higher than 2010 and accounted for 45%of aggregate global revenues. Revenues from Taxservices at $833 million were up 2.1% from 2010and accounted for 22% of aggregate revenues.Advisory services grew the most (3.5%) generating$922 million and 24% of global revenues.

The Asia Pacific region saw strong growth of9%, helped by growth of over 20% in Australia,Malaysia and New Zealand and 19.2% in Vietnam.Growth of 4% in the Americas was largely due tothe excellent performance of the Canadian firmsand also Argentina (24.4%). Europe, Middle Eastand Africa revenues were heavily impacted by theongoing Eurozone crisis with overall growth of0.6% reflecting a difficult year for many Europeaneconomies. There was strong growth however inSouth Africa (34.8%), Botswana and Morocco(both 17%) and, with new member firms in Algeriaand Senegal, the prospects for continued growth inAfrica look strong.

During the year to 30 September 2011, GrantThornton extended its global reach in a number oflocations including Algeria, Czech Republic,Ecuador, El Salvador, Iraq, Kazakhstan andUzbekistan – adding a total of around 750 peopleworldwide.

Financial information

GLOBAL COMBINED REVENUES FOR YEAR ENDING 30 SEPTEMBER 2011

By region 2011 revenue 2010 revenue %

(US$m) (US$m) variance

Americas 1,776 1,707 4.0%

Asia Pacific 435 399 9.0%

Europe, Middle East & Africa 1,577 1,568 0.6%

Total 3,788 3,674 3.1%

By service line 2011 revenue 2010 revenue %

(US$m) (US$m) growth

Assurance 1,713 1,690 1.4%

Tax 833 816 2.1%

Other – comprising: 1,242 1,168 6.3%

Advisory 922 890 3.5%

Outsourcing 238 216 10.1%

Other 82 62 33.1%

Total revenue 3,788 3,674 3.1%


AlbaniaAlgeriaArgentinaArmeniaAustraliaAustriaAzerbaijanBahamasBahrainBelarusBelgiumBoliviaBotswanaBrazilBulgariaCambodiaCanadaCayman IslandsChannel IslandsChileChinaColombiaCosta RicaCroatiaCyprusCzech RepublicDenmarkDominican RepublicEcuador

EgyptEl SalvadorEstoniaFinlandFranceGeorgiaGermanyGibraltarGreeceGuatemalaGuineaHondurasHong KongHungaryIcelandIndiaIndonesiaIraqIrelandIsle of ManIsraelItalyJamaicaJapanJordanKazakhstanKenyaKoreaKosovo

KuwaitLatviaLebanonLithuaniaLuxembourgMacedoniaMalaysiaMaltaMauritiusMexicoMoldovaMoroccoMozambiqueNamibiaNetherlandsNew ZealandNicaraguaNorwayOmanPakistanPanamaPeruPhilippinesPolandPortugalPuerto RicoQatarRomaniaRussia

Saudi ArabiaSenegalSerbiaSingaporeSlovak RepublicSouth AfricaSpainSwedenSwitzerlandTaiwanTajikistanThailandTunisiaTurkeyUgandaUkraineUnited Arab EmiratesUnited KingdomUnited States of AmericaUruguayUzbekistanVenezuelaVietnamYemenZambiaZimbabwe

Grant Thornton International firms worldwide

This list represents the countries and territories whereGrant Thornton International member firms had operationsas at March 2012.

Grant Thornton around the world

If you would like to find out more about howGrant Thornton member firms can assist youplease visit the Grant Thornton Internationalwebsite at www.gti.org

Ian EvansGlobal leader – tax servicesGrant Thornton InternationalT +44 (0)20 7391 9544E [email protected]

Gernot HebestreitGlobal leader – business development and marketsGrant Thornton InternationalT +44 (0)20 7391 9538E [email protected]

Paul RaleighGlobal leader – strategic growth and developmentGrant Thornton International T +44 (0)20 7391 9539E [email protected]

Nigel RuddockGlobal leader – advisory servicesGrant Thornton InternationalT +44 (0)20 7391 9559E [email protected]

Ken SharpGlobal leader – assurance servicesGrant Thornton International T +1 704 632 6781E [email protected]

Ed NusbaumChief executive officerGrant Thornton InternationalT +44 (0)20 7391 9520E [email protected]

www.gti.org

© 2012 Grant Thornton International Ltd. All rights reserved.References to “Grant Thornton” are to the brand under which the GrantThornton member firms operate and refer to one or more member firms, as the context requires. Grant Thornton International and the member firmsare not a worldwide partnership. Services are delivered independently bymember firms, which are not responsible for the services or activities of oneanother. Grant Thornton International does not provide services to clients.

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