Financial reporting and accounting advisory services
You trust your external auditor to deliver not only a high-quality, independent audit of your financial statements but to provide a range of support, including assessing material risks, evaluating internal controls and raising awareness around new and amended accounting standards.
Accounting Standards for Private Enterprises
Get the clear financial picture you need with the accounting standards team at Grant Thornton LLP. Our experts have extensive experience with private enterprises of all sizes in all industries, an in-depth knowledge of today’s accounting standards, and are directly involved in the standard-setting process.
International Financial Reporting Standards
Whether you are already using IFRS or considering a transition to this global framework, Grant Thornton LLP’s accounting standards team is here to help.
Accounting Standards for Not-for-Profit Organizations
From small, community organizations to large, national charities, you can count on Grant Thornton LLP’s accounting standards team for in-depth knowledge and trusted advice.
Public Sector Accounting Standards
Working for a public-sector organization comes with a unique set of requirements for accounting and financial reporting. Grant Thornton LLP’s accounting standards team has the practical, public-sector experience and in-depth knowledge you need.
Tax planning and compliance
Whether you are a private or public organization, your goal is to manage the critical aspects of tax compliance, and achieve the most effective results. At Grant Thornton, we focus on delivering relevant advice, and providing an integrated planning approach to help you fulfill compliance obligations.
Research & development, government incentives
Are you developing innovative processes or products, undertaking experimentation or solving technological problems? If so, you may qualify to claim SR&ED tax credits. This Canadian federal government initiative is designed to encourage and support innovation in Canada. Our R&D professionals are a highly-trained, diverse team of practitioners that are engineers, scientists and specialized accountants.
Keeping track of changes and developments in GST/HST, Quebec sales tax and other provincial sales taxes across Canada, can be a full-time job. The consequences for failing to adequately manage your organization’s sales tax obligations can be significant - from assessments, to forgone recoveries and cash flow implications, to customer or reputational risk.
US corporate tax
The United States has a very complex and regulated tax environment, that may undergo significant changes. Cross-border tax issues could become even more challenging for Canadian businesses looking for growth and prosperity in the biggest economy in the world.
Cross-border personal tax
In an increasingly flexible world, moving across the border may be more viable for Canadians and Americans; however, relocating may also have complex tax implications.
While there is great opportunity for businesses looking to expand globally, organizations are under increasing tax scrutiny. Regardless of your company’s size and level of international involvement—whether you’re working abroad, investing, buying and selling, borrowing or manufacturing—doing business beyond Canada’s borders comes with its fair share of tax risks.
Transfer pricing is a complex area of corporate taxation that is concerned with the intra-group pricing of goods, services, intangibles, and financial instruments. Transfer pricing has become a critical governance issue for companies, tax authorities and policy makers, and represents a principal risk area for multinationals.
Succession & estate planning
Like many private business owners today, you’ve spent your career building and running your business successfully. Now you’re faced with deciding on a successor—a successor who may or may not want your direct involvement and share your vision.
Tax Reporting & Advisory
The financial and tax reporting obligations of public markets and global tax authorities take significant resources and investment to manage. This requires calculating global tax provision estimates under US GAAP, IFRS, and other frameworks, and reconciling this reporting with tax compliance obligations.
Our transactions group takes a client-centric, integrated approach, focused on helping you make and implement the best financial strategies. We offer meaningful, actionable and holistic advice to allow you to create value, manage risks and seize opportunities. It’s what we do best: help great organizations like yours grow and thrive.
We bring a wide range of services to both individuals and businesses – including shareholders, executives, directors, lenders, creditors and other advisors who are dealing with a corporation experiencing financial challenges.
Market-driven expertise in investigation, dispute resolution and digital forensics
Viruses. Phishing. Malware infections. Malpractice by employees. Espionage. Data ransom and theft. Fraud. Cybercrime is now a leading risk to all businesses.
Running a business is challenging and you need advice you can rely on at anytime you need it. Our team dives deep into your issues, looking holistically at your organization to understand your people, processes, and systems needs at the root of your pain points. The intersection of these three things is critical to develop the solutions you need today.
Updates for creditors, limited partners, investors and shareholders.
ASPE Sec. 3041 Agriculture Understanding and applying the new ASPE Section 3041 AgricultureThe Canadian Accounting Standards Board (AcSB) has released new guidance on recognizing, measuring and disclosing biological assets and the harvested products of bio assets.
Tax alert Agricultural Clean Technology ProgramThe Agricultural Clean Technology Program will provide financial assistance to farmers and agri-businesses to help them reduce greenhouse gas (GHG) emissions.
Tax alert ACT Program – Research and Innovation Stream explainedThe ACT Research and Innovation Stream provides financial support to organizations engaged in pre-market innovation.
Tax alert ACT Program – Adoption Stream explainedThe ACT Adoption Stream provides non-repayable funding to help farmers and agri-business with the purchase and installation of clean technologies.
Builders And Developers
Every real estate project starts with a vision. We help builders and developers solidify that vision, transform it into reality, and create value.
Rental Property Owners And Occupiers
In today’s economic climate, it’s more important than ever to have a strong advisory partner on your side.
Real Estate Service Providers
Your company plays a key role in the success of landlords, investors and owners, but who is doing the same for you?
There’s no business quite like mining. It’s volatile, risky and complex – but the potential pay-off is huge. You’re not afraid of a challenge: the key is finding the right balance between risk and reward. Whether you’re a junior prospector, a senior producer, or somewhere in between, we’ll work with you to explore, discover and extract value at every stage of the mining process.
Oil & gas
The oil and gas industry is facing many complex challenges, beyond the price of oil. These include environmental issues, access to markets, growing competition from alternative energy sources and international markets, and a rapidly changing regulatory landscape, to name but a few.
The Canadian power and utilities industry is complex, making it difficult to navigate through change. The regulatory environment, political climate, technological disruption, and energy-savvy consumers are just a few of the factors at play.
At Grant Thornton, we have the real-world experience and knowledge that can help you in considering all of your strategic alternatives. Whether it be managing a transaction process, building and implementing best practices, raising financing, securing your assets and building a cybersecurity strategy, and/or being a market innovator, we are fortunate enough to help our clients through it all.
We work with organizations across the industry, including:
- power distribution utilities
- power transmission utilities
- power generation companies
- municipally-owned energy services companies
- financial investors (e.g. pension funds)
- financial lenders
Powering up your business strategy
Our advisors have helped dozens of utilities and energy services companies, their owners and management teams to determine the best path forward with respect to operations, growth and potential market transactions – both regulated and non-regulated. We advise on technology, cybersecurity, financial reporting, strategic transactions, new projects, valuation, financing, and overall business strategy.
Our unique blend of regulatory and financial advisory experience, combined with specialized knowledge of local distribution and utility companies, delivers proven value to our clients across Canada. As an advisory firm, we listen, we care and we are a part of your team. We are committed to your success.
Our skilled advisors will help you:
- work with management and the board to assess different strategic alternatives, including potential merger and acquisition opportunities for regulated entities;
- navigate the complexities of making a transactional decision while managing the political sensitivities that come with municipal ownership;
- develop forward-planning strategy that anticipates the future and minimizes the effects of shocks and stresses;
- support new business development for your non-regulated activities through business cases, financial modelling and financings;
- negotiate with your financial institutions;
- develop and support implementation of technology solutions;
- assess the governance, risk management, and cybersecurity of your organization;
- support and develop your capabilities to secure and monitor your Operational Technology (OT) infrastructure and Internal Controls Systems (ICS);
- assess and create efficient tax structures;
- provide financial reporting, support and advice to the participants in the regulatory process; and
- provide audit and financial reporting expertise.
Public utilities are vital to the health and safety of our communities. As a regulator, you play a key role in balancing various interests to minimize costs to customers while ensuring customers receive safe and reliable services and utilities, and also continue to be financially healthy and viable.
Having access to reliable, evidence-based information to guide and defend your decisions is essential.
Grant Thornton specializes in advisory services for regulatory bodies, agencies and governments that oversee utilities such as natural gas, power/electricity, water sewer/drainage, and waste management utilities. You can count on our experienced team for reliable, independent information and advice.
Better information leads to better decisions
In the regulatory world, decisions are often based on precedent and expert opinions. Our knowledge of the regulatory and rate-setting process in jurisdictions across Canada adds real value for our clients. We provide transparent, evidence-based advice because we understand the importance of support and justification for your decisions.
It is an ongoing challenge to assess rate changes in a way that is fair and considers the impact on all stakeholders – customers, taxpayers, employees, investors and the utility itself – not to mention recovering costs and earning an appropriate return in a highly capital-intensive industry. Our depth of knowledge and insights into best practices can help drive organizational success.
We can help you with:
- cost of service studies
- rates analysis
- financial/economic modelling
- cost of capital experts
- performance Base Regulation (PBR) reviews
- regulatory/utility benchmarking
- financial policy review engagements