Press releases

Canada’s privately held businesses are optimistic about the country’s economic outlook in 2010—but they believe a significant turnaround will come later, rather than sooner.

National accounting and advisory firm Grant Thornton LLP announced today that the Miramichi, New Brunswick firm Harold M. Parlee Chartered Accountants merged with Grant Thornton effective January 11, 2010.

Grant Thornton LLP and the ICD are strengthening their commitment to good governance through a recent collaboration.

National accounting and advisory firm Grant Thornton LLP announced today that as of January 1, 2010, the firm has merged with the Barrie based accounting and advisory firm Hards Pearson LLP.

Although 2011 is the official year for certain companies to begin reporting under IFRS (International Financial Reporting Standards), for many of these companies the “as at” date for the transition balance sheet is less than a month away.

In today's economic climate, Canadian manufacturers are constantly searching for new and innovative ways to cut costs. While a product portfolio is typically the last thing companies want to trim, this cost-saving measure can simultaneously improve a company's bottom line and foster growth.

When it comes to losses through theft, Canadian businesses and organizations are at a greater risk from internal theft by employees than from outsider. And the current economic climate makes it more likely to occur, as this is often when organizations are also cutting back on internal resources that are meant to detect and protect against fraud. But there are steps employers can take to help mitigate the risks of fraud in the workplace.

Public companies’ conversion to International Financial Reporting Standards means an overhaul of existing financial IT systems—possibly as soon as January, depending on when the fiscal year-end occurs. Businesses they should make sure their IT systems are ready for the challenge.

Despite the economic downturn, privately held businesses (PHBs) remain surprisingly resilient in their attitude towards acquisitions, according to research from the Grant Thornton International Business Report.

Grant Thornton LLP (U.S.), announced, in conjunction with The Committee of Sponsoring Organizations of the Treadway Commission (COSO), the release of Guidance on Monitoring Internal Control Systems. The Guidance─developed by COSO and authored by a Grant Thornton team led by U.S. National Managing Partner of Corporate Governance Trent Gazzaway with members from Grant Thornton LLP (Canada) and Raymond Chabot Grant Thornton LLP (Canada)─is designed to help organizations to better monitor internal control of financial systems and to take timely corrective actions with respect to problems in the reporting processes.