-
Business risk services
Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
-
Cybersecurity
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
-
Business consulting
We can formulate solutions to keep you ahead of disruptive change.
-
Valuations
Our valuation specialists blend technical expertise with a pragmatic outlook to deliver support during transactions, restructuring and disputes.
-
Transactional advisory services
Helping you with successful growth deals throughout your business life cycle.
-
Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery.
-
Mergers and acquisitions
Strategic growth decision making. Globalisation and company growth ambitions are driving an increase in M&A activity worldwide.
-
Forensic and investigation services
Rapid and customised approach to investigations and dispute resolution.
-
International Financial Reporting Standards (IFRS)
Our member firm IFRS advisers can help you navigate the complexity of the Standards so you can focus your time and effort on running your business.
-
Audit quality monitoring
A key component of our global strategy is to promote the delivery of consistent, high quality client service worldwide.
-
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
Growing businesses need strong tax management to meet current and future tax liabilities and we can help you achieve this, whatever challenges you face.
-
Direct international tax
We have the insight and agility to create the strategies you need to respond quickly to ever-changing tax laws.
-
Global mobility services
In a globalised world, businesses must work seamlessly across borders. Organisations operate in multiple countries and view international expansion as a strategic objective.
-
Indirect international tax
With more goods and services crossing national borders than ever before, you may be facing indirect tax obligations in many countries – even those where your customer is located.
-
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
Protecting business and personal wealth is of upmost importance for private clients worldwide. At Grant Thornton, we bring reason and instinct to all aspects of your personal finance and compliance planning.
-
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.
-
Tax policy
Grant Thornton’s teams can work with you to help you understand these regulations, develop a strategy tailored to your business’ individual tax needs and manage tax risk around the globe.
-
Business process solutions
As organisations grow, back office processes and meeting reporting requirements across multiple jurisdictions can become a distraction. We remove the burden of back office operations and worries about compliance to enable you to focus on growth.
The IASB has published an Exposure Draft of proposed amendments to the IFRS for SMEs, its self-contained Standard aimed at the needs of private companies. To date the IFRS for SMEs has been adopted by over 80 countries around the world.
At the time of its issue, the IASB stated that it planned to undertake an initial comprehensive review of the IFRS for SMEs after two years had passed in order to assess the experience that entities would have had in implementing it by then and to consider whether there was a need for any amendments.
As many jurisdictions started using the IFRS for SMEs in 2010, the IASB began its initial comprehensive review in 2012, issuing a Request for Information to seek the views of those who have been applying the Standard. Following this consultation, the IASB’s SME Implementation Group (SMEIG) – on which Grant Thornton has been represented by South African partner Frank Timmins – developed a set of recommendations on possible amendments to the IFRS for SMEs to assist the IASB in undertaking its initial comprehensive view.
Apart from the proposal to change the section in the Standard dealing with Income Tax (which was based on an Exposure Draft that proposed revising IAS 12 ‘Income Taxes’ but which was never finalised), the proposed amendments would make only minor changes to the IFRS for SMEs. This is in keeping with the IASB’s aim that the Standard should provide a standalone, simplified set of accounting principles for entities that do not have public accountability and that typically have less complex transactions than entities operating under full IFRS.
In our letter, we express
- broad support for the specific proposals within the Exposure Draft
- concern over the expansion of the undue cost or effort concept
the need for a clearer framework for future revisions of the IFRS for SMEs.