Grant Thornton grows revenue 17% to $2.3B in FY 2022

Grant Thornton reported Thursday that its U.S. firm's revenue for the fiscal year ending July 31, 2022, rose nearly 17% to reach a record of $2.3 billion.

The accounting and auditing practice accounted for 33% of the total revenue, while tax made up 25% and advisory services contributed 42%.

"Our FY 2022 revenues demonstrate how effectively we're delivering against our firm's purpose: to make business more personal and build trust into every result," said Grant Thornton CEO Seth Siegel, in a statement. "Not only are we providing clients with high-quality solutions and a peerless experience across our audit, tax and advisory service lines, but we're doing it by supporting and caring for our people ― enabling record-setting business performance in the process."

Siegel became CEO on Aug. 1, and the firm appointed several other leaders this past year, including Kevin Zubor as CFO and new office managing partners in cities including Boston, Cleveland and Tulsa, Oklahoma.

GT also introduced qm.x, a cloud-enabled application that facilitates accounting firms' efforts to implement new international standards for quality management such as ISQM 1 (see story), as well as receiving a patent from the U.S. Patent and Trademark Office for innovations related to its proprietary Whole Ledger Analytics system.

Over the past year, GT rolled out enhanced benefits, including several geared toward mental wellness and workplace flexibility (see story). It also absorbed employee premium increases associated with its medical health plans and gave its professionals more time off through extended holiday weekends and half-day Fridays over the summer.

The firm won recognition in several areas this past year, achieving a 100% score on the Human Rights Campaign Foundation's annual assessment of LGBTQ+ workplace equality, and it received a top score on the Disability Equality Index. It also landed on Seramount's list of the 100 Best Companies for Working Parents.

Grant Thornton continued to support and invest in the broader community through its Purple Paladin program to support various nonprofit organizations. In FY 2022, Grant Thornton named four new nonprofits to benefit from the program: Free Mom Hugs, WeaveTales, Warrior Reunion Foundation and Go Team Therapy Dogs (see story).

The firm also focused on environmental, social and governance efforts by committing to net zero greenhouse gas emissions by 2030, and by issuing reports on sustainability and diversity, equity and inclusion. GT's efforts this past year helped it achieve "Gold" status from sustainability ratings provider EcoVadis.