Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
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.
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
Forensic and investigation 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.
Mergers and acquisitions
Globalisation and company growth ambitions are driving an increase in M&A activity worldwide. 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.
Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery
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.
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements. 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.
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.
Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
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.
Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
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.
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.
Innovation and investment incentives
Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
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
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business.
Outsourcing Changes to the Outsourcing legislation, specifically when offshoringSignificant changes to the dynamic of the financial services sector in recent years have shifted the paradigms in how we work. The increased digitisation of the workforce, changes in business models, globalisation, and remote working capabilities have led to a new approach to the delivery of services.
Asset management Inflation and tax planningThe recent onset of rapid inflation is an unwelcome development that is having a widespread impact on US businesses and tax planning.
IAS 36: Impairment of Assets: A guide to applying IAS 36 in practice
International Accounting Standard 36 ‘Impairment of Assets’ (IAS 36, the Standard) is not new. In fact, the Standard was first issued in 1998 and later revised in 2004 and 2008 as part of the International Accounting Standards Board’s (IASB’s) work on the business combinations project. Since then only minor consequential amendments have been made.
However, although IAS 36’s requirements are familiar, the impairment review remains challenging in practice. IAS 36’s guidance is detailed, prescriptive and complex in some areas. Putting this guidance into practice involves making long-term estimates of uncertain future performance and the valuation of assets and operations for which observable prices are often not available.
This also requires a significant degree of professional judgement. Against this background, financial statement users, regulators and accounting enforcement bodies continue to raise concerns about the rigour of entities’ impairment assessments, the supportability of their underlying assumptions and the transparency of the related disclosures. In view of these challenges, a reminder of IAS 36’s requirements and key application issues is time well spent.
Fortunately, Grant Thornton has gained extensive insights into the application of IAS 36. Grant Thornton International Ltd, through its IFRS team, develops general guidance that supports the Grant Thornton member firms’ commitment to high quality, consistent application of IFRS. We are pleased to share these insights by publishing ‘Impairment of Assets: A guide to applying IAS 36 in practice’ (the Guide).
Using the guide
The Guide has been written to assist management in understanding the requirements of IAS 36 while highlighting some common areas of confusion seen in practice. More specifically it:
- summarises the overall objective and basic requirements of IAS 36
- provides a step-by-step guide to performing an impairment assessment, and when required,
- testing for and/or recording or reversing impairment in accordance with IAS 36
- highlights interpretative and practical application issues that arise when performing these steps
- offers insights on best practices to address these issues.