GRANT THORNTON AMYOT’S REVENUES TO MAKE 3.5 MILLION DOLLARS THIS YEAR

Noyan Tapan
Nov 1, 2007

YEREVAN, NOVEMBER 1, NOYAN TAPAN. Grant Thornton Amyot is the largest
consulting and audit company in the Caucasus by its revenues and
the number of employees and one of Armenia’s biggest tax payers,
the director of Grant Thornton Amyot Armand Pinarbasi stated at the
November 1 press conference dedicated to the 10th anniversary of
the company.

In his words, the company’s revenues are forecast to make 3.5
mln dollars by the results of 2007 against 3 million dollars in
2006. The company annually pays taxes equivalent to nearly a million
dollars. Among Grant Thornton Amyot’s customers in Armenia are 300
local and foreign private companies of various sectors, almost all
international structures operating in the country, various NGOs, state
institutions, 15 banks. Among Grant Thornton Amyot’s customers are also
Georgian, Russian, Ukrainian, Belorusian, Uzbek and Kazakh companies.

The network of Grant Thornton International includes 521 advisory
and audit companies with a total of 25 thousand employees located in
113 countries.

The total amount of revenues of these companies has made 3.5
bln dollars this year. According to A. Pinarbasi, Grant Thornton
International is the only group of consulting and audit comapnies to
function under the same name over 27 years.

Grant Thornton has been operating in Armenia since 1991. In 1994,
Grant Thorton France founded its subsidiary in Armenia, reorganizing
it into Grant Thornton Amyot joint venture in 2007. At that time the
company has 10 employees, whereas now – 120 ones who work in the audit,
business advice, tax and accounting, and legal units of the company.

In the words of Daniel Kurkjian, the president of Grant Thornton
France, "when the decision to establish an Armenian office was made 15
years ago, we were sure that we will succeed. An excellent team which
has formed at Grant Thornton Amyot. It quickly learned international
experience of audit and advisory work".