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The AAO Weblog covers accounting issues and current events as they relate the practice of investment analysis. All posts prior to September, 2007 are in the public domain, but after September 4, only subscribers to The Analyst's Accounting Observer will see all posts going forward. Only selected, occasional posts will be released to the public domain from September 4 forward.

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Nice Work If You Can Get It: Grant Thornton Revenues Up 29%
Location: BlogsAAO Weblog (Public)    
Posted by: Jack Ciesielski 9/28/2005 9:03 AM
And you can get it if you try, apparently.

WebCPA reports that Grant Thornton's revenues for the year ended July 31 totaled $728 million.

The article doesn't mention the sources of the increased revenues, but the logical guess is that increased time spent on Section 404 reporting drove the gains.

* * * * * * * * * * * * * * * * * *

While on the subject of auditing firms, here's an interesting quote in today's Financial Times from outgoing Public Company Accounting Oversight Board chairman William McDonough:

"None of us has a clue what to do if one of the big four failed," Mr McDonough told a conference in New York. He said if one of the big four were to collapse, the best accountants could choose to quit the profession...He said even if the firms ranked five to eight in the US were rolled into one, the result would not be a business to match the capabilities of the big four.

Well, maybe the only thing to hope for is that "firms ranked five to eight" continue to grow at about a 30% clip for a while...
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