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.
Global mobility services
In today’s competitive and global marketplace, your employee mobility strategy is a critical factor for success. International opportunities are key to attracting top talent and instilling a global mindset across your organization. Your people truly are your most valuable asset, and as your expatriate workforce continues to grow, a seamless global mobility program is essential to achieving your overall business goals.
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.
US personal tax
Whether your business is only beginning to sell to US customers, or US customers represent the core of your business, anticipating and dealing knowledgeably with the US tax environment is critical to your bottom line. Our full-service US corporate tax group can help in all tax aspects of doing business in the US. Given high US corporate tax rates, don't be surprised by a US tax liability only to find out that there were planning opportunities available to reduce it.
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.
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.
Even if you have no immediate plans of selling, a valuation is a vital step in planning for the future of your business.
What is a business valuation?
A valuation estimates the fair market value of your business, capturing what it may sell for if it were to go on the market.
Why is it important for a business to be properly valued?
A proper business valuation helps owners understand their company’s health by identifying value drivers and detractors that would affect its price if it were placed on the market. This can be valuable for any business, providing the foundation for strategic and operational recalibration to enhance the company’s fitness and drive future growth.
Getting a valuation can help you establish an action plan to address potential risks and take advantage of opportunities you may not have identified otherwise, so you can look to get the best value down the road if you decide to sell your business. It’s also suggested to establish an understanding of your business’s value in the first stages of succession planning, as this knowledge is not only a key factor affecting the timing and viability of succession, but it’s also required for tax, estate and insurance planning purposes.
When would you need to get a business valuation?
There are some misconceptions that getting a business valuation always occurs as the precursor to a sale. In fact, most valuations happen when the business owner has no immediate plans of making an exit. There are plenty of situations in which a proper business valuation can help you better navigate complex processes related to tax and corporate structuring. There are also personal reasons why you might consider a valuation, such as succession planning, divorce or estate planning.
Here are just a few contexts in which a business valuation would be a good idea:
Tax and succession planning
Tax planning for your business is something that can be done at various times – and having an accurate valuation of your business can be essential to the process. For example, if you own a family business, you might look into establishing a trust so family members can each be shareholders in your business in order to take full advantage of capital gains tax exemptions if the business is sold.
Similarly, when starting – or refreshing – a succession plan for your business, it’s important to have a record of its fair market value as you map out the process of transferring ownership and control.
Change of corporate structure
When bringing in and/or exiting partners or shareholders, you’ll need to accurately value their shares. Conducting an arm’s-length assessment in the form of a business valuation can be a good starting point for avoiding conflict in this process. This is especially important in potentially litigious situations.
Employee stock options
To retain key employees or attract new ones, you may be considering creating a stock option plan where employees are allowed purchase the shares of company stock at a predetermined price. To initiate this plan, you’d need a valuation to set that share price.
Change of family situation
A divorce proceeding typically involves a division of assets, but what happens if one of those assets is a business one or both of you owned? Unlike a home or savings account, the value of business is more difficult to agree upon. In situations like this, an arm’s-length valuation can ease any potential pain points and look for an equitable division of assets
Business “health check”
Regardless of whether you’re planning any big changes in the near future, it’s best practice to periodically conduct a “health check” of your business. Conducting a valuation can identify risks and help you set a plan for mitigating them. A valuation can also identify opportunities for new efficiencies. By identifying and addressing opportunities for improvement early, you’ll be in better shape down the road.
Knowledge is power
Understanding the value of your business equips you to better handle changes and transitions, both planned and unplanned. Whether you’re preparing for your business’s long-term future or looking for ways to take it to the next level now, a proper business valuation performed by an expert business advisor can help you get there.
Your Grant Thornton advisor can help you uncover the value of your business by analyzing the predictive nature of historical cash flow, assessing the inherent risks of a business and helping you understand how to apply the insights from your business valuation.