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.
Whistleblower hotlines are the most effective method of uncovering unethical behaviour in an organization. In fact, the Association of Certified Fraud Examiners (ACFE) 2014 Global Fraud Study reports1 42 percent of frauds are uncovered by whistleblowers—more than any other method by far. As an added bonus, such programs come with a very low price tag—making them affordable to implement. Yet, while many private business owners recognize these benefits and have set up whistleblower programs in one way or another, few are experiencing the full range of benefits.
If your company’s whistleblower hotline isn’t generating the results you’d like—say, it’s not receiving any calls at all—there are some things you can do to ensure a higher ROI. But first, you need to get to the root of the problem, by asking a few in-depth questions.
Does your company culture value integrity?
One of the top reasons employees don’t come forward to report internal wrongdoing is because they don’t believe management will do anything about it. Setting the tone from the top is a sure-fire way to earn your employees’ trust and let them know management is serious about addressing any wrongdoing that is uncovered. One of the most effective ways to achieve this is by establishing formal processes and procedures—regarding both the investigation of whistleblower reports and the remediation of unethical acts.
Without the right environment, processes and systems in place, your team members may be more inclined to report through another channel—such as the media, the internet or regulatory bodies—which will undoubtedly cause more trouble for you and your company down the road.
Have you made it easy and anonymous for whistleblowers to come forward?
That’s why it’s important to ensure whistleblower hotlines are anonymous—and that your company fosters a “speak up environment”. The Canadian Standards Association (CSA) recently issued a guideline2 (sponsored by Grant Thornton) that outlines how an effective whistleblower program should be structured—including planning considerations, potential outcomes and implementation tips—to make sure whistleblowers will not be punished for their actions.
Have you communicated the purpose of the hotline effectively?
A lot of the time, whistleblower hotlines aren’t used—or are used incorrectly—simply because the merits of the program weren’t effectively communicated to the team. Whether you’re rolling out a new program—or onboarding new employees—it’s important to clearly explain the purpose of the program, what it entails and why it holds a position of high importance within the company.
Most people don’t report wrongdoing within their company for one of two reasons: they don’t trust that management will do anything about it or they believe the consequences to them far outweigh the value of trying to do the right thing. If you establish a whistleblower program that addresses these two deterrents, you will likely start getting calls alerting you to activities you might otherwise never uncover. This will allow your organization to not only minimize losses resulting from fraud, but also enable you to respond to internal unethical acts swiftly—before they damage your company’s reputation, as well.
1 Association of Certified Fraud Examiners. Report to the Nations on Occupational Fraud and Abuse. 2016.
2 CSA Group. Whistleblowing Systems: A Guide. Register to view.