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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.
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.
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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.
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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.
Latin America remains an economic mosaic that is difficult to generalise, but optimism is strongest where economies are most exposed to US and China’s markets.
Roy Buddle, regional head of Americas at Grant Thornton International Ltd, says: "Each country is confronting its own set of challenges, but the major factor driving success for Latin American and Caribbean economies is going to be the continued success of the US."
Across the region, mid-market businesses are markedly more optimistic after confidence fell dramatically in H1 2019. Economic optimism increased by 14 percentage points (pp) with 65% of businesses confident about the economic outlook due primarily to a new US-China trade deal.
Ignacio Munyo, a business consultant, at Grant Thornton Uruguay adds: "The reduction in global interest rates and the expectation of rate cuts from the US Federal reserve combined with a soft rise in commodity prices is boosting optimism for export-driven companies. Low-interest rates help fund big budget deficits, and most of LATAM countries currently have."
Local political volatility still dominates despite easing uncertainty
While economic uncertainty declined to 58% from 61% in H1 2019, Latin America still has the highest levels of uncertainty after Africa.
Argentina bucked the regional average with the number of businesses citing economic uncertainty as a concern jumping 7pp to 79% after a year which saw devaluation of more than 100% and almost 60% inflation. Munyo says: "Argentina faces a key macroeconomic challenge in its public debt management coupled with the recovery of economic activity. To restore economic confidence among investors – which will be critical for GDP growth – a deal with both the IMF and investment funds needs to take place first."
Meanwhile, in Chile, often looked upon as a beacon of stability in the region, business leaders were unnerved following mass civil unrest. Soon after, Columbia saw similar rioting and political disquiet.
Importantly, though, uncertainty retreated slightly in the region's major economies. In Brazil, the number of businesses concerned by uncertainty eased 2pp to 60%, and in Mexico, the figure was down 10pp to 44%. Munyo says: "Brazil's minister of the economy, Paulo Guedes, has shifted the country to more market-friendly policies which has resulted in stronger confidence levels, though partially dependent on China's performance. Mexico benefits from the strong US economy figures combined with better perspectives on the US-China trade deal but has also to deal with internal political uncertainties."
Investment in technology shows businesses modernising
Businesses in the region expect to increase investments across most categories. Technology and R&D investment remain high in Brazil, with 66% of businesses planning to increase technology spending over the next 12 months continuing an upward trend since Q4 2017. In Mexico, while investment in technology expectations eased by 2pp, R&D expectations were up 10pp from H1 2019 (see our report, Mexico: an enduring business hotspot). Buddle says there is an appetite for practical and pragmatic expertise and experience to embed effective technology solutions into their businesses.
Technology-driven improvements in business processes are helping to keep costs contained. Technology is also playing a role in the modernisation of business models and strategies which is aligning them to more developed economies.
The technology factor also has an impact on skills and labour costs. Munyo says: "The gig-economy has allowed companies to improve their profit margins through automating processes that push down low productivity employment costs. All these issues are critical in a region with strong rigidities in the labour market.”
Exposure to continuing growth in the US will underpin further economic growth in the region. However, considerable risks remain across local economies, and mid-market businesses in this region will have to continue with their signature resilience in the most challenging of circumstances.
Speak to a local Grant Thornton adviser to find out how your business can thrive in international markets in 2020.