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.
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.
What happens when you decide to sell your business during a period of economic uncertainty? Selling a business is a significant step that deserves careful attention even at the best of times, and Canada’s ongoing recovery from the economic impacts of 2020 could pose additional challenges. Fortunately, whether you came to the decision to sell after years of deliberation or were forced to make the move swiftly, there are steps you can take to increase your chances for success.
The fundamentals for a successful process remain the same no matter when you make your move. We’ve summarized the essential stages from early considerations through closing for you below.
Steering confidently through economic turbulence
The pandemic has changed the economic landscape – though the impact has varied across industries and regions – and you need to know where to invest your time and energy to ensure the best return. This five-step guide is designed to help you navigate with confidence.
Step 1 – Establish your divestiture goals
- Clearly identify your needs from the outset. Knowing why you are selling, the role you want to play in the business during the transition process, and what a successful transaction means to you are critical to defining the correct divestiture
- Whenever possible, plan your exit well ahead of time to help maximize the selling price while minimizing the disruption to the business and your remaining team in the process.
- It’s also important to start on any pre-transaction work such as revisiting your corporate structure to minimize the tax implications on the sale.
- On the other hand, if you need to move quickly, be realistic about what that needs to look like – for example, are you willing to accept a lower price to get out now?
Step 2 – Understand the value of your business
- Do you know what your business is worth? If not, now may be the time to engage in an informal business valuation or pricing analysis to try to determine a range of value that a buyer may be prepared to pay for the business in the current environment.
- Demonstrate an understanding of the impact COVID-19 and the 2020 economic slowdown have had on the operations and, if any, the value of your business. A focus on the operational decisions you make today will show a confident plan for recovery to a potential buyer.
- Know the key trends in your industry. Are there eager buyers that want to branch out into your market? Is your industry experiencing consolidation? Are there strategic buyers that will pay a premium because they can recover rapidly and gain market share?
Step 3 – Make your go-to-market package attractive
- A polished and professional package shows buyers that you mean business, demonstrating confidence in the future of your enterprise and that you have taken the time to plan ahead. This typically includes:
- Blind teaser – a confidential one-pager that contains just enough information to peak a potential buyers interest in learning more about the opportunity;
- Confidential information memorandum (CIM) – a more detailed information package on the opportunity;
- Process instruction letter – outlining key matters in the mandate such as what is important to you, where to direct queries and the timelines to respond / submit an offer; and
- Management presentation – providing an introduction to ownership / management (as required) and an overview of internal operations and future opportunities
- All this information is based on facts, but keep in mind that the way the information is compiled and presented can definitely have a favorable impact on the process.
Step 4 – Provide as up-to-date information as possible
- It’s unlikely that your performance this year is directly comparable to your 2019 results, so be upfront and honest about that and share results that are as close to the current date as possible.
- Transparency is vital, and by delivering the timeliest performance data you also showcase your plan for recovery and focus on operational efficiency. Show interested buyers that you have a plan to weather the storm and are focused not just on surviving but on thriving in our new economic reality.
Step 5 – Be prepared to broaden your reach
- Keep an open mind and consider how to get as many potential buyers as possible interested in your business. Now is not the time to take a narrow view of where you seek offers.
- Deals can fall apart for any number of reasons as the risk appetites of lenders and investors change. If you cast your net wide, yet targeted, you are more likely to find a buyer that is interested in engaging in the process and can actually close the deal.
We can help
You’ve invested so much into growing your business. Let’s make that same investment into running a successful sale process. At Grant Thornton Corporate Finance, our business advisors can help you navigate through the sales process, from initial planning to successful close. Our professionals offer meaningful, actionable and holistic advice to help you achieve your business goals and needs. Our commitment is to work closely with you through these turbulent times to help ensure your sales process is managed efficiently, professionally and successfully.