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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 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.
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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.
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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
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.
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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
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
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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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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.
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Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
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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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Tax policy
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business.
The 2023 edition of the publication has been updated for changes to International Financial Reporting Standards (IFRS) that were published between 1 January 2022 and 31 December 2022.
The publication now covers 31 March 2022, 30 June 2022, 30 September 2022, 31 December 2022 and 31 March 2023 financial year ends.
A briefing for preparers of IFRS financial statements
Identifying the changes that will affect you
Effective dates of new standards
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Various: Interest Rate Benchmark Reform Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) - 1 January 2021
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IFRS 16: Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to IFRS 16) - 1 April 2021
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IFRS 3: References to the Conceptual Framework (Amendments to IFRS 3) - 1 January 2022
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IAS 16: Proceeds before intended use (Amendments to IAS 16) - 1 January 2022
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IAS 37: Onerous Contracts – Cost of Fulfilling a Contract (Amendments to IAS 37) - 1 January 2022
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IFRS 1, IFRS 9, IFRS 16 and IAS 41: Annual Improvements to IFRS Standards 2018-2020 Cycle (Amendments to IFRS 1, IFRS 9, IFRS 16, IAS 41) - 1 January 2022
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IFRS 17: Amendments to IFRS 17 Insurance Contracts including the Extension of the Temporary Exemption from Applying IRFS 9 (Amendments to IFRS 4) - 1 January 2023
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IFRS 12: Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12) - 1 January 2023
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IFRS 17: Initial Application of IFRS 17 and IFRS 9 – Comparative Information (Amendment to IFRS 17) - 1 January 2023
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IAS 8: Definition of Accounting Estimates (Amendments to IAS 8) - 1 January 2023
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IAS 1: Disclosure of Accounting Policies (Amendments to IAS 1 and Practice Statement 2) - 1 January 2023
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IAS 1:Classification of Liabilities as Current or Non-current (Amendments to IAS 1) - 1 January 2024
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IAS 16: Lease Liability in a Sale and Leaseback (Amendments to IFRS 16) - 1 January 2024
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IAS 1: Non-current Liabilities with Covenants (Amendments to IAS 1) - 1 January 2024
The effective dates table in the article has been colour coded to help entities planning for a specific financial reporting year end, and identifies:
- changes mandatorily effective for the first time
- changes not yet effective
- changes already in effect.
Where a change is not yet mandatorily effective for a particular year end, it may still be possible for an entity to adopt it early (depending on local legislation and the ability to be able to fully comply with all the requirements).
Where a change has been made but an entity is yet to apply it, certain disclosures are required to be made under IAS 8 ‘Accounting Policies, Changes in Accounting Estimates and Errors’. Disclosures required include the fact that the new or amended Standard or Interpretation has been issued but it has not yet been applied, and known or reasonably estimable information relevant to assessing its possible impact on the financial statements in the period of initial application.
Identifying the commercial significance of the changes in the publication
For each change covered in the publication, we have included a box on its commercial implications. These sections focus on two questions:
- how many entities will be affected?
- what will be the impact on affected entities?
A traffic light system indicates our assessment of the answers to these questions.