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Why Grant Thornton
Whether you’re growing in one market or many, looking to operate more effectively, managing risk and regulation, or realising stakeholder value, our firms can help.
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Culture and experience
Grant Thornton’s culture is one of our most valuable assets and has steered us in the right direction for more than 100 years.
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Global scale and capability
Beyond global scale, we embrace what makes each market unique, local understanding on a global scale.
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Join our network
In a world that wants more options for high quality services, we differentiate in the market to grow sustainably in today’s rapidly changing environment.
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Leadership governance and quality
Grant Thornton International Ltd acts as the coordinating entity for member firms in the network with a focus on areas such as strategy, risk, quality monitoring and brand.
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Africa
24 member firms supporting your business.
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Americas
31 member firms, covering 44 markets and over 20,000 people.
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Asia-Pacific
19 member firms with nearly 25,000 people to support you.
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Europe
53 member firms supporting your business.
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Middle East
8 member firms supporting your business.
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Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
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Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
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Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
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Cybersecurity
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
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Forensic services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
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Mergers and acquisitions
We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer-term strategic goals.
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Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery.
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Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
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Valuations
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
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IFRS
At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
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Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
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Global audit technology
Our global assurance technology platform provides the ability to conduct client acceptance, consultations and all assurance and other attestation engagements.
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Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
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Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
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Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
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Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
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Transfer pricing
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
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Africa tax desk
A differentiating solution adapted to the context of your investments in Africa.
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Banking Holding banking to account: the real diversity and inclusion pictureWe explore how the banking sector can continue to attract, retain and nurture women to build a more diverse and inclusive future.
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Sustainability From voluntary to mandatory ESG: How banks can future-proof their operationsAs we move from voluntary ESG initiatives to mandatory legislation, we explore what the banking sector needs to prioritise.
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IFRS IFRS 9 - Audit of Expected Credit LossesGPPC releases The Auditor’s response to the risks of material misstatement posed by estimates of expected credit losses under IFRS 9
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growthiQ Steering your company to long-term successHistory has something important to tell us about the difficulties of steering a business to long-term success – through seismic shifts in technology, consumer demands and product development. With that in mind it’s unsurprising that over half the world’s largest companies in the early 1900s had shut their doors by the late 1990s. Some, however, have endured.
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International Financial Reporting Standards Implementation of IFRS 17 ‘Insurance Contracts’The auditor’s response to the risks of material misstatement arising from estimates made in applying IFRS 17 ‘Insurance Contracts’
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IFRS Get ready for IFRS 17After twenty years of development the IASB has published IFRS 17 ‘Insurance Contracts’, find out more.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - Sector analysis Clear patterns of damage from COVID-19 across the industriesThe index results for 12 key sectors of the mid-market reveal just how much or little the various parts of the economy were impacted by COVID-19.
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Not for profit Mission: possible – putting impact at the heart of charityGlobal charitable continues to decline and charity leaders are increasingly looking at their own unique impact journey.
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Access to finance Raise finance to invest in changePrepare your business to raise finance to invest in change.
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Private equity firms Private equity in the mid-market: reshaping strategies for 2021When the global COVID-19 pandemic stormed across the globe in early 2020, the private equity sector was hit hard but deals are coming back to the market.
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Mid-market businesses Getting ready for private equity investmentOur specialists explore how private equity firms are now working with their portfolios and how the mid-market can benefit from investment.
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Mid-market businesses Myth-busting private equityNervous about partnering with Private Equity? We explore some of the common myths we come across when speaking to mid-market businesses about PE investment.
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Public sector Helping build the government of tomorrow, todayLearn about the Grant Thornton US public sector team.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - Sector analysis Clear patterns of damage from COVID-19 across the industriesThe index results for 12 key sectors of the mid-market reveal just how much or little the various parts of the economy were impacted by COVID-19.
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Industries European Real Estate PodcastJessica Patel, Tax Partner at Grant Thornton UK speaks with tax partners and directors across the network to share their insights on the real estate market and some of the challenges.
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Industries European Real Estate PodcastJessica Patel, Tax Partner at Grant Thornton UK speaks with tax partners and directors across the network to share their insights on the real estate market and some of the challenges.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Retail How retail is positioning for successCOVID-19 provided some hard lessons for the retail industry. It is time to turn those into sustainable and well executed growth strategies in 2021.
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Telecoms Can tech and telecom leverage economic headwindsAs most businesses brace for an economic downturn, tech and telecom could see new prospects. But, to turn the headwinds to your advantage, you need to find your unique opportunities and risks.
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Technology Mid-market tech companies lead the way on diversity and inclusionWe explore how the mid-market tech sector can continue to build and nurture a culture that’s increasingly more diverse and inclusive for women.
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Tax Resetting global tax rules after the pandemicBusinesses are seeing rising challenges, and finance heads are dealing with a range of new measures. To say the next 12 months are critical for businesses is an understatement.
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TECHNOLOGY International tax reform: the potential impact on the technology industryIn this article, we’ve summarised key elements of the global tax reform proposals, their potential impact on technology industry and advice from our digital tax specialists on what technology companies can do to prepare.
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Telecoms Can tech and telecom leverage economic headwindsAs most businesses brace for an economic downturn, tech and telecom could see new prospects. But, to turn the headwinds to your advantage, you need to find your unique opportunities and risks.
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TMT TMT industry: Fully charged or on standby?Our research revealed five key trends that resonated with Technology, Media and Telecoms (TMT) industry leaders around the world. We asked a panel of our experts from UK, US, India Ireland and Germany, to give us their reaction to the findings.
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Cybersecurity One size fits nothingTechnology companies must adopt a new approach to digital risk: those that successfully develop a reputation for digital trust by demonstrating an unwavering commitment to cyber security and data privacy will be able to carve out a competitive advantage.
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Technology, media & telecommunications Why it’s time for a 5G reality checkFigures suggest the mobile sector is maturing. While data usage continues to soar, mobile revenues are expected to flatten out over the next few years.
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International business Mid-market businesses lifted by rising tide of optimismOptimism among global mid-market business leaders rose to 67% in the first half of this year and they are markedly more optimistic about their prospects with global optimism having increased by 8%.
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Global business pulse - industry analysis Mid-market recovery spreads to more industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
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Hotels COVID-19: Checking in with the hotel industry one year onCOVID-19 provided some hard lessons for the hotel sector. It is time to turn those into sustainable and well executed growth strategies.
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Global business pulse - industry analysis A very uneven recovery across industriesThe index results for 13 key industries of the mid-market reveals a very uneven recovery from COVID-19
- By topic
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Women in Business 2024
2024 marks the 20th year of monitoring and measuring the proportion of women occupying senior management roles around the world.
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COP28: Mid-market firms should seize the opportunity from adaption and innovation
COP28 was the first time there has been a global stocktake on progress against the Paris Agreement.
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Scanning the horizon: Mid-market sets sights on global trade growth
The latest International Business Report (IBR) data shows that mid-market businesses have high expectations for global trade.
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Mid-market sees business optimism reach record high
Grant Thornton's latest International Business Report (IBR) sees optimism among mid-market business leaders reach a record high with 74% optimistic about the outlook for their economy over the next 12 months.
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Women in tech: A pathway to gender balance in top tech roles
Grant Thornton’s 2024 Women in Business data suggests we are far from achieving parity within the mid-market technology sector.
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Women in leadership: a pathway to better performance
What makes the benefits of gender parity compelling is the impact it can have on commercial performance.
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Women in Business 2024
2024 marks the 20th year of monitoring and measuring the proportion of women occupying senior management roles around the world.
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Women in business: Regional picture
We saw an increase in the percentage of senior management roles held by women, on a global level, but there are some significant regional and country variations.
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Pathways to Parity: Leading the way
To push towards parity of senior management roles held by women, who leads within an organisation is vital.
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Generating real change with a long-term focus
The most successful strategy to achieve parity of women in senior management is one which stands alone, independent of an ESG strategy.
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People at the heart of great business
Businesses have started to put guidelines and incentives in place, focused on driving employees back to the office.
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Focusing and developing a solid strategy around diversity, equity and inclusion
Grant Thornton Greece is pioneering a growing set of diversity, equity and inclusion (DE&I) initiatives that centre around three strategic pillars.
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Ten considerations for preparing TCFD climate-related financial disclosures
Insights for organisations preparing to implement the International Sustainability Standards Board (ISSB)’s Standards.
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COP28
COP28 was the first time there has been a global stocktake on progress against the Paris Agreement.
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Transition Plan Taskforce publishes its final disclosure framework
As organisations in the private sector make commitments and plans to reach net zero, there's a growing need for stakeholders to be able to assess the credibility of their transition plans.
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Promoting ESG excellence through tax
ESG considerations have never been more important for an organisation’s long-term success, but how can tax be used to add value to an ESG agenda?
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International business: Mid-market growth and expansion
The mid-market looks to international business opportunities for growth.
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Top five constraints to international business in the mid-market
Top five major constraints that are testing the mid-market’s ability to grow their businesses internationally.
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Brand and international marketing – breaking global barriers
Brand has been identified as a key driver of mid-market success when looking to grow and develop international business.
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The key to international business: Investing in people
How can recruitment and retention help grow international business?
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Building resilience in international business
Evolving supply chains and trade patterns amid ongoing global uncertainty.
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IFRS Alerts
IFRS Alerts covering the latest changes published by the International Accounting Standards Board (IASB).
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Example Financial Statements
General guidance for preparers of financial statements that supports the commitment to high quality, consistent application of IFRS.
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Insights into IFRS 2
Insights into IFRS 2 summarises the key areas of the Standard, highlighting aspects that are more difficult to interpret and revisiting the most relevant features that could impact your business.
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IFRS 3
Mergers and acquisitions are becoming more common as entities aim to achieve their growth objectives. IFRS 3 ‘Business Combinations’ contains the requirements for these transactions.
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IFRS 8
Our ‘Insights into IFRS 8’ series considers some key implementation issues and includes interpretational guidance in certain problematic areas.
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IFRS 16
Are you ready for IFRS 16? This series of insights will help you prepare.
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IAS 36
Insights into IAS 36 provides assistance for preparers of financial statements and help where confusion has been seen in practice.
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IFRS 17
Explaining the key features of the Standard and providing insights into its application and impact.
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Pillar 2
Key updates and support for the global implementation of Pillar 2.
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Global expatriate tax guide
Growing businesses that send their greatest assets – their people – overseas to work can face certain tax burdens, our global guide highlights the common tax rates and issues.
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International indirect tax guide
Navigating the global VAT, GST and sales tax landscape.
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Global transfer pricing guide
Helping you easily find everything you need to know about the rules and regulations regarding transfer pricing and Country by Country reporting for every country you do business with.
Dr. Tim Klatte, Partner and our Head of Shanghai Forensic Advisory Services in China, provides his perspective based on China’s previous SARS experience, and how other countries can learn from their experience amid COVID-19 uncertainty.
As the world faces its biggest healthcare challenge in more than a generation, the social impacts of the coronavirus (COVID-19) will be fast and prolonged. For industry, the effects may be even longer-lasting, forcing a greater need than ever to strive for business agility, strengthened client relationships, and enhanced employee care.
Since the media’s uptake of the outbreak in Wuhan, China in January, the country has served as a yardstick for much of the world in terms of how the pandemic may evolve, and how best to tackle it. However, unlike many regions and nations who are finding themselves in unchartered territory when it comes to a suitable response, China itself is no stranger to major outbreaks.
The country’s fight against SARS less than 20 years ago still lives vividly in the memory of its population, and while virus containment and mortality rates are of course a priority; the overriding concern across all industrial sectors remains how damaging COVID-19 may prove to be to the global supply chain.
Dr. Tim Klatte, Partner and our Head of Shanghai Forensic Advisory Services in China, explains: “What the SARS experience taught corporates here is the level of supply chain stress involved.
“Central China, especially Hubei Province, serves as one manufacturing hub for the country, and some recent statistics and research conducted in late February have already painted a concerning picture for sectors like automotive and logistics.”
It’s a reflection of the fact that local downturns, slowdowns or – in this case – lockdowns don’t just rebound back to normal in their aftermath.
Especially with a global crisis such as this, China may indeed be coming out of the worst of its coronavirus impacts, but other countries interlinked in their globalised supply chains are only just starting to take the hit. Even as Wuhan and the rest of the country begins to remobilise, their supply chains are entering a phase of disruption and inaction.
A new value dynamic
To illustrate the global nature of the coronavirus and its impacts on corporate life, Oxford Economics recently reported that the global economy is facing a sharp downturn in Q1, reflecting damage in demand and contracting GDP.[1]
“The impact on trade looks set to be especially large,” the document stated. “Reports indicate freight activity on some routes is down 20%-40% on normal levels and we think Chinese imports will be down around 12% in Q1 from the previous quarter.
“Our baseline forecasts assume a relatively rapid rebound in global growth from Q2 onwards, but even this will leave world growth for the year at only around 2%, easily the slowest pace in the last decade.”
For us in professional services, this presents a new and nuanced challenge. Our very nature is to provide a service. Yet, if clients are unable to operate in their usual way, and their typical service needs are modified, where’s our value?
“Our role has already been impacted tremendously,” Tim says. “Not just in China, but globally. And it’s all happened in a such a quick timeframe. At Grant Thornton, we have tried to reclaim some control over the situation by putting together response teams and crisis management plans to address the situation and to ensure both ours and our clients’ business continuity.”
Digital appreciation
As Tim elaborates, this revolves around changing the dynamic of the professional service proposition from being a face-to-face solver of problems, to being more agile and reactive to each client’s needs.
“We’re using this period as an opportunity to get closer to clients,” he says. “We can share with them what we’re doing, and as we’re serving multiple industries and regions, we can also share with clients what their peers are doing. It keeps us relevant and helpful while still offering value to them as well.”
By being in the middle of so many sectors and geographies, professional service firms are ideally placed to be a linchpin. To convey successful strategies to clients that have been seen elsewhere, and that are even being implemented internally.
A key driver of this effort so far, that will continue to grow in importance moving forward, is a greater appreciation for, and adoption of, tech.
“Continuity of projects and business development is a huge issue and by embracing technology we can retain as much of this continuity as possible,” Tim continues. “While many projects can’t be completed remotely, we’re a key facilitator in reducing the disruption across projects that can be.”
Grant Thornton UK Partner and Global Head of Professional Services, Peter Gamson agrees, adding that this reliance on tech should be part of a wider movement towards flexible working.
He says: “Many firms have had the technological and organisational flexibility to work remotely for some time now, but to this point, they have not had the necessity to put it into practice and make it work.
“This period will likely prove to be the point that causes many firms and their employees to realise that changing the way we work going forward perhaps isn’t as challenging as it may have previously felt. If handled well, teams and individuals could come together to work much more closely than they previously have.”
Retaining an advisory role
If we don’t move towards more flexible, digitised methods of operating then we lose our value as a trusted advisor.
Conor Farley, Partner at Grant Thornton Australia is at least seeing progress along these lines, though.
“To the industry’s credit, we are already seeing a tangible move towards remote working, and the use of online platforms for training, graduate inductions, recruitment assessment centres and critical meetings,” he says. “For the latter, we’re leaning more on internal IT departments than ever before, while also looking towards third-party vendors to facilitate this new method of relationship management and engagement.”
The virus has curtailed a lot of norms that professional services take pride in providing. While clients are readily adapting to the challenge, we too need to mitigate the effects as part of a bigger strive for improved flexibility.
This more dynamic relationship is already being demonstrated between law firms and their clients, as Tim adds: “A lot of corporates around the world are facing disruption to their bottom line and need to accommodate or offset that. To do so they need to understand local labour laws and contract situations, and this is where the law segment of professional services is proving to be not just an adaptable helper, but a pivotal consultant during a difficult time.”
From this perspective, we also have a responsibility to offer guidance and advice. For law firms, this has included encouraging workers to take annual leave during this period so that all hands are on deck to capitalise on an industry rebound in the virus’ aftermath.
With many projects being put on hold, the opportunity to take time off in conjunction with typical HR regulations may be inhibited once everything springs into action once again.
Setting an example
In more general terms, Tim and the global Grant Thornton Professional Services team are urging peers and clients to address three core themes in order to firstly ride the wave of the coronavirus; and to then come out the other side even stronger:
- Increased digitisation of relationship management
- Heightened diversification of the supply chain
- Improved employee care
While the former has been addressed as an immediate way to offset coronavirus’ impacts, the latter two are being emphasised as ways to mitigate today’s challenges and also prepare more effectively for similar crises in the future.
“Supply chain diversification is something that China certainly learned from after SARS but that the rest of the world needs to address now,” Tim explains. “It’s a lesson to everyone that we have to hedge our bets and reduce instances of putting all our investments into one or two pockets. By diversifying our supply chains we’re more likely to be ready to adapt and mobilise at a moment’s notice, rather than relying on one sole source to keep our productivity afloat.”
He adds: “Meanwhile, we have to show, internally, how much we care about our employees in a crisis situation. Showing that we’re still valuing them and giving them a platform to succeed even during rough times is a small gesture that will have a lasting impact on employee commitment.”
Immediately, this may include distributing masks or sanitisers to them, while making their work schedules more flexible. In the long-term, Peter is already calling for heightened communication around areas that workers may find more daunting.
“Coaching and developing people remotely is not easy to do and if people are left to their own devices they could easily feel uncared for,” he says. “To this end I think firms will need to focus primarily on maintaining strong communication with their people.”
Flexibility. Enriching the labour force. Greater appreciation of tech. Diversification of suppliers and supplier geographies. These are lessons that can stand us in good stead both now and beyond coronavirus’ elimination.
Tim says: “Adapting to COVID-19 realities is a learning curve for everyone and we in professional services are beginning to grasp the virus’ severity and respond in kind via papers, reports, guidelines and a host of webinars.
“While we ourselves are evolving our business model so we can continue providing value to clients, we can also set an example for how the rest of the corporate world can evolve so that similar crises have less of an impact in the future.”
Conor concludes: “Once the dust has settled, we’ll hopefully ignite a feeling among more innovative and faster moving clients of ‘why didn’t we always work like that?’ en route to longer-term organisational profitability.”
To discuss these and any other matters impacting professional services firms contact our global head of professional services, Peter Gamson, or your local Grant Thornton firm.
[1] Coronavirus: World economy faces a short, sharp shock, Oxford Economics - 4 March 2020