Professional services firm Grant Thornton (GT) has acquired the taxation business of Bengaluru-based RMC Global Advisory Services LLP for an undisclosed amount.
As part of the transaction, nearly 26 employees of RMC Global Advisory Services, including two partners, would be joining GT, which has about 150 partners and directors and a team of 3,000 people in India, The Economic Times reported citing Vishesh Chandiok, national managing partner at Grant Thornton India.
“It adds depth to our tax advisory and compliance outsourcing capabilities in the south. It will sharpen our focus on growth companies, including startups,” Chandiok said.
“The advantage is that the RMC team is led by accomplished professionals who will fit in seamlessly into our entrepreneurial culture,” he added.
Bangalore-based RMC Global Advisory Services is assisting local and global corporates with their various audit, tax and other regulatory requirements.
Most multinational audit and taxation firms in the country have been expanding. Due to the upcoming audit rotation, many full service firms present in the country are also on an expansion mode.
GT will see a whole host of clients move out due to audit rotation mandated by the Companies Act 2013. Therefore, it is boosting its non-audit practice areas like tax to compensate for the loss of clients in the audit practice.
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