Welcome to the Grant Thornton global transparency report for 2018

Governance and management

Grant Thornton International Ltd (GTIL) is a private company limited by guarantee, incorporated in England and Wales. It is a non-practising international umbrella entity that does not provide services to clients.

Grant Thornton member firms around the world deliver services to clients. References to ‘Grant Thornton’ in this report are to the brand under which the Grant Thornton member firms provide assurance, tax, advisory, outsourcing and other services to their clients, and/or refers to one or more member firms, as the context requires.

As of 1 January 2018, GTIL has more than 135-member firms. Each member firm is a separate legal entity. Membership of the global network does not make any firm responsible for the services or activities of other member firms. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts and omissions. Member firms carry the Grant Thornton name, either exclusively or as part of their national practice names.

Governance

Board of Governors

  • approving global strategic direction and policies
  • overseeing the implementation of the global strategy
  • overseeing membership matters (including approving new member firms, suspending the rights of a member firm, or expelling a member firm)
  • appointing and setting the remuneration of the chair of the Board
  • appointing, evaluating performance and setting the remuneration of the CEO
  • approving the GTIL budget and member firm fees
  • overseeing the financial health of GTIL
  • overseeing global enterprise risk management
  • overseeing general governance matters, such as the composition and performance of the Board.

Chair of the Board

The chair of the Board (the Chair) is a proactive role with a focus on ensuring that the Board functions as a coordinated group in support of the CEO to deliver on the global strategy. Scott Barnes was appointed Chair as of 1 January 2015 for a term of three years. In December 2017, the Board reappointed Scott for an additional term of two years. The role of the Chair is pivotal to creating the conditions necessary for a highly effective Board focused on the Grant Thornton network’s global strategic development.

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