Grant Thornton International has published its transparency report for 2009. The report confirms that, despite the unprecedented turbulence in global markets, the 96 member firms of Grant Thornton International generated combined revenues of US$4 billion in 2008, a 14% increase on 2007.

The report is in respect of the fiscal year ended 31 December 2008. In the interests of openness and transparency, the report includes, for the first time, details of the funding of Grant Thornton International itself by its member firms.

The report outlines the legal structure and governance of the Grant Thornton umbrella organisation and the tools provided to the individual member firms of the organisation to support them in producing distinctive, high quality client service in the fields of assurance and accountancy, tax and specialist advisory services.

This transparency report also explains the global quality control procedures and the global independence practices and tools. It also highlights the attention paid to client acceptance and risk management.

The production of transparency report is to enable our stakeholders - businesses, investors, regulators and communities - to better understand our global organisation. It explains how the organisation is run and how Grant Thornton International provides reasonable assurance that member firms perform high quality audit, tax and advisory services. Transparency is a key element underpinning the confidence of the world’s capital markets in the audit process, and Grant Thornton will continue to play its part in creating a more accountable and robust accounting profession.