Grant Thornton, the world’s seventh largest professional services network by revenue, closed its 2022 fiscal year with $7.2 billion in revenue.

That represents an increase of 13.7% from fiscal 2021 when measured in constant currency.

Grant Thornton CEO Peter Bodin said in prepared remarks that the firm’s 2022 results “reinforce the true value of our multidisciplinary model for the network and for clients, as it enables us to invest in the technology and enhanced capabilities needed by today’s international clients. This in turn provides great opportunities for our people to further develop their skills and expertise – making Grant Thornton an attractive place to work.”

Grant Thornton is a network of largely independent professional services firms that share the same brand name. The firm, which is headquartered in London, was formed through a long series of corporate mergers that unfolded over the course of more than a century.

Grant Thornton’s bread and butter is assurance, or helping publicly traded companies audit their books to make sure everything is in order. The firm’s assurance business raked $2.7 billion in fees from client projects during fiscal 2022.

Grant Thornton’s second largest business is its advisory group, which achieved revenues of $2.7 billion. The advisory group provides a broad range of services to clients: managment consulting, cybersecurity support and assistance with financial tasks such as establishing the value of a business before it’s sold.

Grant Thornton’s advisory group achieved 18.1% annual revenue growth in fiscal 2022, while its assurance business grew at a rate of 10.9%. By next year, advisory may exceed assurance as the firm’s largest source of revenue. 

Grant Thornton’s third major revenue source is its tax business. The business’ revenue rose 12.3% in fiscal 2022 to $1.5 billion.

Of the $7.2 billion in total sales that Grant Thornton generated during the year, $3.3 billion came from clients in the Americas. The firm’s US business was among the six fastest-growing of its member firms.

As companies with growing top lines usually do, Grant Thornton expanded its headcount in 2022 to keep the momentum going. The firm’s global headcount now stands at about 68,000 employees, 6,000 more than it had a year ago. 

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