Grant Thornton US posts $1.97 billion in revenues in FY 2021
Grant Thornton US saw revenues grow by 2.6% to $1.97 billion in the fiscal year ended July 31, 2021, up from $1.92 billion in FY 2020.
The pandemic stunted growth for Grant Thornton as it did for many other professional services firms. The middle-market accounting and consulting firm saw 1% growth in FY 2020, having previously seen 5.4% revenue growth in FY 2019.
2021’s figures, as such, represent a modest rebound in fortunes for the Chicago-based company, which has approximately 8,500 professionals across 50+ US offices.
“In a changing and uncertain environment, we continue to remain agile and perform with excellence across our entire firm, including our services lines, industry groups and internal services teams,” said Brad Preber, CEO of Grant Thornton. “We’ve combined flexibility and innovation with quality and value to realize record revenues. Because of this approach, we’re well-positioned for continued growth.”
In the last year the firm provided its employees with various pandemic-related benefits, including enhanced support for psychological wellness, childcare, and tutoring. The firm also rolled out a hybrid workplace model that continues to provide its employees with a degree of flexibility in work arrangements.
“Our teammates have different comfort levels with returning to face-to-face interactions, different needs for in-person contact and different family responsibilities,” Preber added. “This is why we created a policy that delivers exceptional results for clients without requiring attendance in our offices or at client sites for many business situations.”
The firm continued to advise clients on pandemic-related challenges, delivering solutions and services across strategy, operations, finance, compliance, workforce management, and technology, among other areas.
Grant Thornton earlier this year established a center of excellence (COE) in Orlando to support its national indirect tax practice, with an initial focus on data-informed sales/use and property tax compliance and consulting services.
The firm also advanced its ESG programs in FY 2021. Grant Thornton pledged to donate $300,000 over three years to the Southern Poverty Law Center and $300,000 over three years to the Thurgood Marshall College Fund. The firm also published its first-ever annual DEI report.
On the environmental front, Grant Thornton committed to reducing its carbon footprint by 55% by 2030.
The firm’s awards included being recognized as one of Working Mother Magazine’s 2020 100 Best Companies and Best Companies for Dads (it also recently placed on these lists for 2021).
Grant Thornton in FY 2021 made several key appointments, including Seth Siegel as CEO-elect, Rashada Whitehead as national managing director of culture, immersion & inclusion, Beatrix Bernauer as chief risk and compliance officer, and Janet Malzone as national managing partner of audit services.
“Over the last year, we have proven that Grant Thornton is a firm that is ready — ready to build strong relationships with our clients, colleagues, and communities; ready to help solve problems and deliver value and quality; and ready to go beyond expectations to build confidence into every result for all those we serve,” Preber concluded.
