Grant Thornton LLP, the US operations of auditing firm Grant Thornton International, has posted a 17% rise in fiscal 2007 revenues, to $US1.04bn (₤508m) – up from $US939.55m in the previous year.

The firm attributed the growth to its expanding international client base. Of its 1896 new client engagements, one in five was with companies with global operations. In the past year, Grant Thornton LLP opened new offices in San Antonio, Texas; and San Diego, California. The firm's Seattle office launched an Indian tax and business services gateway to help companies either establish a presence in India or structure their investments there. Grant Thornton LLP has also introduced a private equity initiative to provide additional service to private equity firms.

In the past year, the firm also acquired Stout Risius Ross's restructuring and performance improvement group to build its recovery and reorganisation services practice.

'Our extraordinary growth reflects the global marketplaces’ recognition of our unique and innovative approach to client service and the calibre of our people,' Edward Nusbaum, Grant Thornton LLP chief executive officer, said.

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