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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 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 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: 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.
In a world where stakeholder capitalism is pushing to become the predominant business model, driving the imperative for corporates to focus on long-term value creation for all stakeholders, environmental, social and governance (ESG) issues are now common boardroom topics. And diversity and inclusion (D&I) considerations are high on the ESG agenda, as businesses strive to reflect their customers and communities.
Diversity also makes good business sense, as we have argued over 15 years of Women in Business reporting. “There is an abundance of research linking gender diversity to greater productivity and increases in innovative thinking,” says Rashada Whitehead, national managing director of Culture, Immersion and Inclusion at Grant Thornton LLP US.
“Put simply, it makes business sense to have I&D at the top of your strategic agenda. Not only is it the right thing to do, but it is what stakeholders expect,” says Maddie Wollerton Blanks, People Consulting Lead at Grant Thornton UK. “There is an increasing demand for action and results in creating inclusive workplaces where diversity can flourish.”
When pursuing D&I goals, much of the focus falls on social elements, with the ‘G’ in ESG often being overlooked. But when it comes to creating an equal, included workforce, governance is arguably the most important element of ESG, encompassing policy decisions taken by a company to change the way it approaches D&I – and the deliberate actions employed to increase gender parity.
Why diversity and inclusion measurement is crucial to business success
Gender diversity offers a compelling illustration of the business benefits of a diverse workforce. For example, in its 2020 global release Diversity Wins: How Inclusion Matters, McKinsey reported better business performance among organisations with 30% or more women on their executive teams, with a performance differential of 48% between the most and least gender-diverse organisations.
Grant Thornton’s 2022 Women in Business report reveals that women now hold 32% of senior management positions in mid-market businesses globally, reflecting how pressures from stakeholders to create gender parity in leadership have helped push D&I measurement up the ESG agenda.
Each stakeholder group has its own reasons for demanding improved diversity performance. “Shareholders want to invest in sustainable and resilient businesses, and are focusing on ensuring the I&D agenda is seen as an asset and not a liability for any organisation they invest in,” outlines Wollerton Blanks.
“Meanwhile, regulators want to see measurement against key reporting requirements, such as gender pay gap reporting and the incoming Corporate Sustainability Reporting Directive, which focuses on non-financial reporting including diversity and equal opportunities,” she adds. “Employees and future employees are looking at how included existing and previous employees have felt. Customers want to ensure their supply chains are aligned to their values and don’t present a risk to their business.”
Measuring gender parity is also important internally, so organisations can make informed decisions aligned with their overall business objectives. “Diversity of thought, experience, background and skills is critical to highly successful organisations, and having the right benchmarks ensures greater likelihood for return on objectives such as gender parity,” points out Whitehead.
“Having measurement in place also helps identify gaps, inequities and risks,” she adds. “For example, if an organisation has hiring practices that show gender parity at entry level, but the numbers consistently decrease at higher levels, the right measurement tools would help to identify this challenge and help leaders devise proactive solutions.”
With measurement and regulation increasing across all ESG issues, D&I initiatives can benefit from lessons being learnt in how to track and report against non-financial business impacts, accelerating the velocity at which diversity, equality and inclusion measurement and strategies can be implemented.
And speed is of the essence, warns Wollerton Blanks. “Organisations need to start to gather data and develop meaningful strategies to tackle their challenges. However, this window is finite, with stakeholder expectations for meaningful and data-led strategies to achieve inclusion and diversity goals rapidly progressing.”
The evolution of D&I measurement
In Grant Thornton International’s Blueprint for Action to increase gender diversity in senior management, one of the six key pillars is diversity data. Each business’s position on the diversity scale will be different, and the actions required to move towards a positive outcome will vary. By analysing the position and progression of female employees, businesses can identify representation gaps, opportunities for improvement, and where targeted changes are needed.
To achieve this, consistent, relevant measurement is key. Research by Boston Consulting Group has identified five key metrics for gender diversity on which goals and interventions can be based, and which enable businesses to measure progress toward gender parity over time. Pay, recruitment, retention, advancement and representation are all crucial to mapping a company’s position.
But which of these metrics being employed, and has measurement changed over time? Grant Thornton’s annual Women in Business research interrogates the measures businesses use to track gender diversity in their workforce. In our 2020 report, researched prior to the coronavirus outbreak, we asked mid-market businesses if and how they quantified their working environments, and the extent to which their people felt that cultures in which they worked were diverse and inclusive. Broadly, respondents were unsure where to start, and which factors to prioritise.
Fast forward two years, and with the impacts of the pandemic front of mind, we found an evolved landscape in the way businesses measure gender diversity and inclusion, and the importance placed upon measuring it. Covid-19 and the renewed focus on ESG globally has meant leaders now see inclusion measurement as more of a priority.
“We are increasingly seeing the executive and board hold individual accountabilities for improving D&I, especially from a characteristic approach, such as appointing a head of gender equality,” observes Wollerton Blanks. “Leadership accountability is particularly effective where there is a clear and consistent understanding of the business case for inclusion for that organisation specifically, with a roadmap to address prioritised challenges. This gives leaders a tangible and objective measure of their own success and return on investment in their inclusion efforts.”
In a changed working environment, where a hybrid location model has been adopted by many organisations, D&I measurement is also being used to ensure the workforce is engaged. “While inclusion has been paramount to the global workforce for quite some time, the remote work environment and other social pressures have created new obstacles to building connection and engagement,” points out Whitehead.
Gender diversity metrics tracked: 2022 versus 2020
Gender diversity tracking provides a case study for the evolution of D&I measurement. Over the two-year period, we see that the percentage of companies tracking no gender diversity metrics has fallen dramatically, from 28% to just 8% – reflecting the overall importance of measurement.
Meanwhile, the proportion of companies tracking standard, first order metrics capturing female representation has remained largely constant, with little change in 2022 from the 2020 figures. Total percentage of female employees (30%), and percentage of female employees by management level (31%) are tracked by just under a third of companies worldwide – with negligible change over two years.
However, there is a notable change in second level metrics relating to female progress and acquisition since 2020. There are more businesses recording nuanced equality metrics, including the percentage of female promotions (30% in 2022 versus 25% in 2020); percentage of female new hires (29% versus 26%); and turnover by gender (22% versus 19%).
As an outlier, we see a substantial shift in the tracking of gender equality pay, up to 44% globally from 24% in 2020. This is likely due to the growing regulation on gender pay gap reporting around the world – but it remains a powerful metric for measuring gender equity in the workplace.
Equality of numbers is insufficient if women in senior management continue to be paid less on average than male counterparts. Overall, our research reflects greater adoption of specific measures which track committed equality strategies related to female success within, and access to, roles in businesses. Rather than simply recording the number and seniority of female employees, organisations are looking at how they are recruiting, promoting and retaining those women.
It’s promising to note that as ESG issues and therefore a D&I focus become more entrenched, the metrics businesses adopt are evolving with them towards measurement of more action-based outcomes.
“Many organisations are now realising that measuring numbers is table stakes: specific, proactive metrics are a must,” says Whitehead. “Efforts need to go beyond measuring static numbers, to looking at how they promote people, leadership development programs, hot-skills training and other investments to help future female leaders thrive.”
How to meaningfully track inclusion in the workplace
Measuring progress towards inclusion in the workplace falls within the parameters of governance. The adage is, what gets measured gets done, but is there a proven link between increased measurement and an improved sense of inclusion? Yes, if you track the relevant data.
“It’s important to make sure you are measuring the right metrics to understand how to embed meaningful change and to determine the effectiveness of your approach,” asserts Wollerton Blanks.
“Gender pay gap reporting, for example, has shown us that one challenge with only focusing on diversity measurement is that an organisation can be investing to improve inclusion yet show a backwards step in their diversity data in the short term. Inclusion data gives a much more ‘real time’ reflection of progress.”
The methods currently being used to assess diversity and inclusion vary widely depending on capacity and appetite for data gathering and analysis within an organisation. Without global regulation around the subject, most companies employ a voluntary reporting model which meets their stakeholders’ needs.
In 2022, we see significant numbers of businesses recording wider metrics around inclusion, such as employee perception of inclusion (35%), psychological safety (27%), and employee net promotor score (27%). While these were not metrics that featured in the 2020 research, it’s safe to assume that employee opinion-oriented research has increased among companies looking to understand their D&I position.
Ultimately, the right metrics are, says Wollerton Blanks, those which determine how included people feel throughout their lifecycle as an employee. “This creates an actionable data set from which to build a prioritised roadmap and measure progress.”
“For many, understanding the makeup of their workforce from a characteristic perspective is a significant first hurdle,” she adds. “There are a couple of factors in this: the first is that of systems and processes – organisations do not all have a means by which this type of people data is regularly gathered and refreshed. The second is in building the trust of their workforce to disclose this data with the understanding that it is only being used to improve the culture and experience of everyone.”
Third-party, anonymous, online tools can help allay concerns among staff that data will be used to identify and target individuals. “We have had instances where the number of people disclosing protected characteristics has been 10 times higher in our external online tool as opposed to in response to the company’s internal data gathering,” reveals Wollerton Blanks.
Inclusion measurement and the future of work
The long-term impacts of the coronavirus pandemic, changing working models and new priorities among employees are combining to make inclusion a key focus in the drive to tackle talent shortages. In order to secure the skills they need going forward, businesses must be transparent around how they are working to create a supportive, connected, equitable work environment, and display measurable success.
Rashada Whitehead reflects on the challenge businesses are facing to attract and retain talent. “It’s getting harder, not easier,” she says. “This makes it critical to have measurement programs that keep a finger on the pulse on inclusion, belonging, engagement and overall sentiment. The new hybrid working world is challenging for all businesses, and many will get it wrong. Measurement can help businesses stay on track and even improve their efforts, no matter where their workers are located.”
By demonstrating to all stakeholder groups – including investors, employees, customers and the wider community – their commitment to inclusion, organisations will set themselves up to achieve the benefits of a diverse workforce and succeed in the new working landscape.
Visit our diversity and inclusion hub for research and tools enabling leaders to create the diverse perspectives and inclusive cultures needed to navigate these uncertain times.
To discover more about the benefits of D&I in the workplace and explore how you can implement measurement criteria in your organisation, contact one of our contributors.