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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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Sustainability advisory
We can assist you with a variety of sustainability advice depending on your needs, ranging from initial strategy development, reporting and compliance support, through to carbon measurement and management.
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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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Sustainability assurance
Our sustainability assurance services are based on our global network of specialists, helping you make more efficient decisions for the good of your organisation.
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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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Sustainability tax
Through our sustainability tax advisory services, we can advise how environmental taxes, incentives, and obligations can impact your progress, requiring alignment with governmental and legislative pressures.
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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 Women in business where we monitor and measure 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 Women in business where we monitor and measure 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
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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.
Professional services firms will have no doubt conducted numerous surveys among employees in recent months to gauge wants and expectations post-COVID. For most, the message has been resounding.
We can’t simply go back to the way things were.
Agile working has been a buzzword for many years, but having been forced into its clasp since March, we’re now beyond reasonable doubt that a more flexible, employee-focused and open-minded work structure is not just feasible or preferable. It’s better.
As we reach that critical transition stage, moving out of lockdown and back into a semblance of normality, it’s decision time for firms as to whether they’ll indulge these calls for prolonged change, or whether they choose to slip back into old habits.
“Most organisations have moved on from that initial crisis management stage and are now in the ‘what next?’ phase,” explains Justin Rix, partner at Grant Thornton UK. “Planning is underway for the restart post-COVID, and this takes many forms.
“Initially, logistically, there’s a need to be compliant with government regulations in physical workspaces. But then there are much more long-term considerations. Considerations which have been brought to the forefront during the pandemic, and that can be carried forward long into the future.”
Setting the tone
Indeed, to look forward, we must first look back and introspect on how the professional services world has responded to the pain points associated with COVID-19, and its launch into remote working.
Two overriding themes as part of this discussion revolve around mental health and employee wellbeing; and improved acknowledgement of employees as individuals.
Addressing the former, Justin continues: “Employee wellbeing really was the first thing that all professional services firms – to their credit – kicked into gear with.
“We had been forced to send everyone home at a very delicate and challenging time and, for the most part, they were still having to produce high-performance work regardless of their home environment.”
Not just establishing but communicating resources in this sphere was therefore imperative and time sensitive. There may have already been employee benefits programmes or medical support available through the organisation, but to make these more visible and accessible was a primary aim for most.
“There was an immediate focus on making those systems and resources available and clear, and then they were complemented by new systems and programmes such as wellbeing champions; to further hit home the commitment to people at such a stressful time,” Justin adds.
“It also set the tone for that second factor – to embrace the individuality of all our employees.”
This focus builds on the recently coined cliché that we’ve gone from 5,000 people working in 30 offices, to 5,000 people working in 5,000 offices. Each person with their own strains, homelife, pets, children, capacity, space, digital infrastructures, technical proficiency, health scares and so on.
“Everyone has been effectively working as individual siloes, despite still working for the one organisation,” Justin continues. “This required a response built around more than just transparency and communication. It required acknowledgement that everyone is different. And that has actually always been the case even in ‘normal’ times.”
The transparent, clear, communicative, helpful and conscientious steps put in place to help people during lockdown will hopefully have set a precedent, to this end. Instilling relief, confidence or a sense or support in workers shouldn’t be a short-term reaction, but a culture.
And organisations certainly seem to have realised this as we enter the transition phase out of COVID.
Reimagining new ways
We’re not hailing the death of the office, however. Far from it.
Peter Gamson, global head of professional services notes: “Professional services firms are telling us that while they would prefer this ‘experiment’ not to have been imposed on them (and indeed the world), it has highlighted how some of their beliefs around ‘what wasn’t possible’ have changed to ‘what can work better in some instances’.”
It seems that professional services firms are – perhaps belatedly – realising that an improved balance and flexibility around how the industry operates can benefit both the firm and its people, if enacted appropriately.
“It’s not a black and white situation, but this period has created a catalyst to think about procedures and processes that were a given before, but that now have been proven to be unnecessary or even ill-advised,” Justin notes. “Because of that, many organisations – including Grant Thornton – are determined not to just fall back into those old ways by inertia.
“There is now an intent to cherry pick the best of what we’ve discovered over the past few months and integrate that alongside elements of tradition that do still have their place.”
Justin affirms that some aspects like client relationship building, or training and development of staff, may still be better to conduct face-to-face. However, more dynamic operations could be interchangeable depending on client and employee preference.
“We’re not suggesting a complete do-away of office life,” he adds. “Instead, a reconsideration of what the office is needed for.
“If it’s geared up for hundreds of people to be sat at desks answering emails and making calls, then we now know that’s not vital in most cases. So why not redesign and reimagine how that office will look in a more agile infrastructure where the critical face-to-face, office-based, aspects are championed and developed instead.”
Trusting agility
Despite the tone of ‘newness’ or ‘revelation’, we all know that agile working isn’t a new concept in general. However, for most professional services firms, it certainly is a step change away from tradition.
Until now, the resisting factor has been trust and accountability; compounded by an outdated model which only really rewarded time, not performance.
This period has undoubtedly brought a new perspective on both these fronts.
Justin explains: “COVID-19 has removed one of the biggest barriers that firms put up against remote, agile working; in the form of trust. Trust that employees would have the same focus, drive and productivity outside of an office, as they do inside.
“This period has forced them into that no-go area, though, and the results are hard to argue now.”
While efficiency has been impacted in some areas, it hasn’t in others, so there hasn’t been an across-the-board drop-off in productivity, even in spite of the stresses and strains of pandemic life. Commuting times have been replaced by earlier starts for some. Others are working later after putting their kids to bed, with renewed focus.
So, if firms can understand where this flexibility works well in their teams, and harness it, efficiency could be increased in some areas.
“Being measured by output, productivity and creativity, instead of hours, synergises with this realisation that employees can be trusted to work just as hard, and perhaps more effectively, when left to their own devices,” Justin adds. “And as a result, the trust among firms is now there to embrace agile working – to maybe even improve productivity, and to also enhance levels of employee satisfaction.”
Preparing for life beyond lockdown
Again, it should be emphasised that there isn’t a one-size-fits-all answer to this transition. Just as some have thrived under recent conditions, others will be excited to get back into a social environment where they’re not hosting video conferences from the end of their beds.
The key word is ‘agility’. The agility to facilitate employees’ individual, optimum working conditions when the situation allows.
“It’ll be a journey, but this time has definitely helped to create a vision of what the future may look like,” Justin affirms before pinpointing some of the key steps that companies can take to prepare for life beyond lockdown.
- Firstly, reassess internal models to establish whether paying for hours and duration is still the best way, having seen during COVID-19 that people can still produce the same – if not better – output when given more flexibility.
- To do so, we need to reanalyse how we measure productivity. It will be unique to each organisation and requires introspection on what is critical, what can’t be compromised on, and what can be conducted via a new flexible structure.
- Give people who are managing this transition the tools and training to consistently guide. Agility doesn’t mean ‘chaos’ or ‘ad hoc’ and will only work if those in charge are adhering to the same, consistent, transparent strategy.
- Identify what you want the workplace to be. Is it for productivity around your core business model, or is it a space to collaborate, train and develop, socialise, onboard, and host clients?
- Don’t forget the tech! Digital proficiency, as it has been during the pandemic, is a wide-ranging and infrastructural development that will need to take on a new dimension to accommodate both a new office dynamic and long-term remote working.
- “Cash is King,” adds audit partner at Grant Thornton US, Bryan Merrigan. “Businesses should review their forecasted revenues and spending to get a handle on their cash runways. It’s essential to develop an overall strategy which balances cost-cutting initiatives with reduced revenues, while generating additional liquidity.”
- Finally, don’t forget your culture. ‘Agile’ isn’t a tailormade regime. It’s being more flexible in alignment with your organisation’s own goals, targets, reputations and strengths. Make sure that any transformation is geared towards those elements, as it’s the culture that attracted those clients and employees to you in the first place.
A golden opportunity
Organisations should look at the coming months as a ‘once in a generation’ opportunity to look at their approach to people management, from the perspective of all the above considerations.
From the elements of mental wellbeing and personal care, to the more overriding facets of performance remuneration, work agility and cost control; the answer resides in listening to the workers themselves.
“Undoubtedly, their expectations will have also changed during this period,” Justin concludes. “In the same way that firms have been exposed to new ideas and situations, their employees have too.
“From the surveys we’ve conducted, vast numbers of people are against the idea of simply returning to ‘normal’, and for organisations to ignore that would be to quite quickly diminish their appeal as employers.
“So, take this chance to challenge previous norms, create better feedback loops, indulge those who are ready to return to work, engage with those furloughed staff who may feel even more disconnected during this time, and show tangible signs that you’re looking to exit this period stronger than when you entered it.”
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.