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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.
![Scanning the horizon: Mid-market sets sights on global trade growth](/globalassets/1.-member-firms/global/insights/international-campaign/2023/mid-market-sets-sights-on-global-trade-growth-464x422.jpg)
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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.
![IFRS Alerts](/globalassets/1.-member-firms/global/insights/women-in-business/2020/offset_817617-464x422.jpg)
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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.
![Outlining challenges of Pillar 2 compliance for multinationals](/globalassets/1.-member-firms/global/insights/pillar-2/shutterstock_335625890_464x422.jpg)
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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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Technology Responding to slowing growth: why the tech industry faces a more challenging outlook in 2022We spoke to tech experts about industry trends that could affect companies over the next 12 months and what their short-term strategic priorities should be.
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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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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 businesses less optimistic, despite record numbers expecting increased profitability
A closer examination of the data offers some explanation of this apparent contradiction.
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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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Building a culture that champions diversity
Grant Thornton UAE has grown to have a team comprising more than 50 nationalities and this diverse staff has been key in building the inclusive culture of the firm.
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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: 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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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.
![insight featured image](/globalassets/1.-member-firms/global/insights/sustainability/sustainability-hero_1440x600.jpg)
Over the course of the past decade, the importance of sustainability has increased significantly all over the world – not only in terms of how individuals live their lives, but also how governments frame policy as well as how businesses develop operating models and plan for the future.
The ongoing pandemic, meanwhile, has produced a paradoxical challenge for mid-market businesses.
And despite Covid-19, the need for action on sustainability has never been more urgent.
Linda Mannerby, Head of Sustainability at Grant Thornton Sweden, explains, “Companies that understand global challenges and risks, adapt their business models, and manage their business impact – both positive and negative – have a greater opportunity to survive long-term.”
Sustainability in the mid-market
It is clear that sustainability has become a strategic focus for blue-chip businesses. In line with the UN’s Sustainable Development Goals, the likes of Shell, Unilever, Microsoft, Apple and American Airlines – to name just a handful – have all recently announced plans to reduce their net carbon dioxide emissions to zero within the next few decades. Grant Thornton’s IBR research has focused on the extent to which mid-market companies are embracing sustainability.
The findings show that a significant proportion of mid-market businesses are attuned to its importance: just under half (48%) believe sustainability will have a net positive financial impact on their business, while a similar number (47%) expect a sustainable approach to lead to improved operational efficiency and lower costs. Meanwhile, 43% say financial success and sustainability are of equal importance.
The mid-market is clearly attuned to the growing importance of sustainable businesses, but the data also suggests that many mid-market firms are unsure of how to put any commitment to sustainability into practice. 48% agree that most companies of their size don’t know where to start when it comes to sustainability measurement.
Another notable finding is that businesses in emerging markets are prioritising sustainability issues to a greater extent than their counterparts in developed economies, and also expect a greater positive financial impact from integrating sustainability.
Why embrace sustainability?
One of the key motivating factors for mid-market businesses to make sustainability a guiding strategic principle is the growth opportunities this kind of approach can create.
One of the number one motivations for integrating sustainability into strategy is to obtain investment, as year on year there more capital in the world is allocated in accordance with sustainability parameters. Many investors and banks also use sustainability as a proxy for a company’s approach to risk management.
Ivri Verbin, Chief Executive Officer of Good Vision, explains, “Another issue is that, if I want to sell to a bigger company, they will want suppliers to fall in line with their own sustainability goals – they are accountable for a responsible supply chain."
And this may be one factor underpinning the fact that businesses in emerging economies are more likely to prioritise sustainability. Verbin observes that the demand from bigger businesses in more developed countries to implement sustainability is also pushing emerging countries to comply with these issues in order to be able to sell to them.
Integrating sustainability into core business strategy also drives innovation and ultimate business growth, explains Katerina Katsouli, ESG & Sustainability Director at Grant Thornton Greece. “Increased innovation results in a boost to sales, contributing strongly to business growth. Sustainable and socially responsible companies can establish a clear point of brand differentiation, helping shield them from lower-cost competitors.
“These businesses also stand to gain great value when it comes to reputation. They are better able to build trust with stakeholders, gain willing recommendations from clients, and protect themselves from scandals, regulatory challenges and other reputation-busters."
The impact of taking a sustainable approach
As the trend towards sustainability gathers pace, says Emma Verheijke, Partner Sustainability & Impact Advisory at Grant Thornton Netherlands, mid-market businesses simply cannot afford to be left behind.
“What we see in the Netherlands and across Europe, is that there are more and more drivers accelerating this transition, from finance and employees to customer sentiment and even public-tender rules. So if you are not going to make this transition and embrace sustainability, is your business going to be future-proof? Are you going to be around in five years?”
Verheijke adds: “I’m not sure this concept has really landed yet – and I think a lot of companies will start to feel the pain of not making this transition quite soon.
“Sustainability is no longer a nice project on the side: it is part of your core strategy. It affects your risks, your opportunities, your long-term planning, how you deal with your people, your resources and your suppliers, as well as consumer demand. Companies that see that and anticipate these issues will be the ones that have the most value in the future.”
Verbin agrees: “The sustainability revolution is in many ways like the digital revolution: companies that refuse to embrace sustainability will be left behind.”
Indeed, the IBR found that almost two-thirds (61%) of mid-market businesses think that global sustainability trends will demand fundamental changes to operating models in their industry.
Valentina Yakhnina, Sustainability Manager at Grant Thornton Israel, adds: “A side effect of becoming more sustainable in terms of your resource management is that you can increase efficiency and reduce costs – for example, if you make the effort to reduce the amount of materials you use, or find new ways to reduce waste.”
The obstacles to becoming more sustainable
For many businesses in the mid-market, the financial outlay required to implement a sustainability programme is a major hurdle to overcome – and one which has become even more of a problem as a result of the financial pressures around Covid-19.
Julia Höglund, Sustainability Advisor at Grant Thornton Sweden, says: “The biggest challenge is short-termism. Even if we don’t want to be, we are still in a system where we are pushed to deliver on quarterly financial targets, and this is still driving the change within companies.
“The question we usually get from clients is, ‘What is the return on this investment?’ This is sometimes difficult to answer in financial terms because it is dependent on so many global and consumer factors. What we can measure however is the return on investment across ESG (environmental, social and governance) activities, which may have an impact on overall financial performance.”
Identifying value
Sue Almond, Global Head of Assurance at Grant Thornton, says that the IBR’s findings, which found many firms draw a strong link between sustainability and financial performance, were particularly encouraging. She explains: “Financial performance of the business underpins its own sustainability. So if there is a clear line of sight from sustainability actions to overall financial performance of the business, then you have that business imperative: this is how you win hearts and minds.”
Markus Hakansson, Head of Sustainability Business Advisory at Grant Thornton Sweden, adds: “Your ability to create value as a company is not dependent only on financial factors. Non-financial factors – social and environmental – are connected to 80% of the company’s ability to create value and in the end, value is money.
“But this value – which can be the knowledge of the employees, or structural capital – can be held in the company for many years before it becomes cash. Understanding this concept of sustainability can be a problem for the board and owners.”
First steps in sustainability
Höglund says that the key to working out what a business’s sustainability goals is opening up a dialogue with stakeholders. “This is all about finding out what stakeholders really demand,” he explains. “These stakeholders range from investors and lenders to customers, employees and the wider public.” According to the IBR, 49% of mid-market businesses expect to face more pressure from existing and future talent to become more sustainable in the year ahead, while 55% expect to face more pressure from their customers.
Verbin adds: “The whole idea of sustainability is understanding stakeholder expectations and trying to respond as a business. Dialogue will provide crucial insights and solve many of your problems. You can’t be an innovative company without listening; and the social networks make it very easy to listen.”
At the same time, says Mannerby, businesses need to assess their current position in terms of the environment and society. “You need to understand where the positive and negative impacts are,” she explains. “One of the simplest ways of doing this is by mapping your value chain: this kind of impact analysis can help you reach out to board members, raising awareness and identifying risks.”
Businesses need to be clear from the outset as to what they are trying to achieve through becoming more sustainable, Verheijke says. “Is it compliance? Communication? Financing? Attracting and retaining talent – or all of the above? Because that is going to dictate the direction you are going to take.”
Once goals and material impact areas have been established, businesses can decide which reporting and assessment frameworks fit best, she adds, rather than starting with a particular framework or methodology and working backwards.
Mark Hucklesby, director of financial reporting at Grant Thornton, says that recent developments in sustainability reporting are likely to lead to the development of a unified set of non-financial reporting standards to replace the large number of competing sustainability standards currently in operation.
“A wide range of sustainability questions are being asked by various stakeholders involved in their supply chains,” he explains. “And failure to be able to articulate a clear response when asked about your sustainability philosophy is going to hamper future opportunities. An integrated and unified set of sustainability standards will provide much needed transparency and comparability.”
Verbin says it is important to get buy-in to sustainability programmes from across the organisation: “I would suggest involving employees in shaping such programmes: employees are connected, and many of them are millennials – they grew up in the sustainability revolution and it is part of their DNA. They are also closer to the practicalities.”
In the same vein, communication is vital to build a dialogue and raise awareness with potential clients, investors and other stakeholders., Yakhnina adds: “This doesn’t have to be a lengthy report – but it should be a very clear and practical explanation of what exactly you have done and what value it brings.”
Placing sustainability at the centre of strategy
Ultimately, Hakansson says, sustainability concerns should be placed at the centre of all decision-making within the company. “It is not just about putting sustainability into the business model: it also needs to feed into the strategy, tactics and operations,” he explains.
“In the perfect situation, every decision on the tactical, operative and strategic level should be made on the triple-bottom-line basis, taking into account its environmental, social and financial impact.”
Connect with a Grant Thornton expert below to explore how to integrate sustainability strategy into your business.
Greece![]() Katerina Katsouli T +30 210 7280 000 E katerina.katsouli@gr.gt.com W www.grant-thornton.gr |
Israel![]() Ivri Verbin T +972 3 5600153 E ivri@goodvision.co.il W www.grantthornton.co.il |
Israel![]() Valentina Yakhnina T +972 77 7706754 E valentina.yakhnina@goodvision.co.il W www.grantthornton.co.il |
The Netherlands![]() Emma Verheijke T +31 (0) 88 676 9163 E emma@sinzer.org W www.grantthornton.nl |
Sweden |
Sweden![]() Markus Hakansson T +46 08 563 070 72 E markus.hakansson@se.gt.com W www.grantthornton.se |
Sweden![]() Julia Höglund T +46 08 563 073 44 E julia.hoglund@se.gt.com W www.grantthornton.se |