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.
Recently the first set of proposed European Sustainability Reporting Standards (ESRS) standards that were developed by the European Financial Reporting Advisory Group (EFRAG) were delivered to the European Commission (EC).
EFRAG’s role with the EC is to be its technical advisor on corporate reporting matters – both financial and non-financial. EFRAG is working very closely with the EC as it looks to finalise Europe’s Corporate Sustainability Reporting Directive (CSRD). The CSRD will soon be turned into legislation replacing the current Non-Financial Reporting Directive that currently exists.
Below are the most significant changes that EFRAG has made to its Exposure Drafts (EDs) on the ESRS that were issued earlier this year:
- The number sustainability standards included in the first set of ESRS delivered to the European Parliament has been dropped from 13 to 12 as the result of the content of the two proposed governance standards being merged into one
- The number of KPIs and specific disclosure requirements contained in all the EDs on ESRS has been significantly reduced. Across all the ESRS the total number of disclosures, if material, that are now required has reduced from 136 to 84
- The 'rebuttable presumption' principle, that was a notable feature of the original EDs has been dropped. Simply put this now means there is no longer a need to provide comprehensive disclosures when a disclosure requirement set out in the ESRS has been considered 'non-material', and
- The requirements that surround a reporting entity having to provide detailed disclosures about the value-chains it participates in have been clarified. Based on feedback received from the ED process a phased 3-year approach to disclose what is required has now been included.
Full details and links updated ESRS documents can be found at www.efrag.org.
The European Council (EC), who gave its final approval to the CSRD last week, will now consult EU bodies and Member States on these draft standards, before adopting the final standards as delegated acts in June 2023, followed by a scrutiny period by the European Parliament and EC.
The reporting requirements in Europe will be phased in over time for different kinds of companies. The first companies will have to apply the standards in financial year 2024, for reports published in 2025. Listed SMEs will be obliged to report as from 2026, with a further possibility of voluntary opt-out until 2028. However, they will be able to report according to separate, proportionate standards that EFRAG will develop next year.
EFRAG also announced last week that its focus in the next few months will be on drafting a second set ESRS that will draft sector specific standards:
- Five sectors covered by GRI: agriculture, coal mining, mining, oil and gas (upstream), oil and gas (mid-to downstream), and
- Five high-impact sectors: energy production, road transport, motor vehicle production, food/beverages, textiles. This second set of draft ESRS will also focus on some specific standards for SMEs.
We hope you find this information helpful in giving you some insight into EFRAG’s progress on the ESRS. If you would like to discuss any of the points raised, please speak to your usual Grant Thornton contact or your local member firm.