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.
In response to COVID-19, an existing program has been modified due to the COVID-19 pandemic, for workers who are unable to work due to illness, injury, or quarantine—including self-isolation.
With the launch of the new Canada Emergency Response Benefit (CERB), Canadians who apply for Employment Insurance sickness benefits due to COVID-19 will automatically have their application transferred to the CERB program.
As it currently stands, an individual who is eligible for the CERB can receive the benefit for a maximum of 16 weeks. If after those 16 weeks the individual is still unable to work, they can apply for EI regular or sickness benefits, if they qualify.
This resource is made available mainly as a reference document to the EI Sickness Benefit program, but also for those individuals who may need to apply for EI after the CERB’s 16-week period has elapsed. You can find more information on the CERB .
The modifications to the EI Sickness Benefit (EISB) include the following:
- The one-week waiting period for benefits has been waived for new claimants who are quarantined or in self-isolation.* Normally you would have to be in quarantine for a week before you can apply for EISB.
- Claiming EISB due to quarantine will not require a medical certificate.
- A toll-free number dedicated to waiving the EISB’s waiting period has been established: +1 833 381 2725. This number should only be called after you have already completed the application for EI sickness benefits.
- People who cannot complete their claim for the EISB due to quarantine (i.e., no internet access or access to required supporting documents) can apply after their quarantine period is over and have their claim backdated to cover the full period.
What are the benefits?
- Up to 15 weeks of financial assistance.
- Up to 55% of earnings to a maximum of $573 per week.
- A family supplement will be automatically added to your benefit payments if:
- Your EISB is less than $573 per week, annual net family income is less than $25,921, you have at least one child under 18 and you (or spouse) receive the Canada Child Benefit. No separate application is required for this.
Benefits are paid out 28 days after the application and required documents are received.
Who is eligible for the EISB?
In order to qualify, the following criteria must be met:
- You are unable to work for medical reasons;
- Your regular weekly earnings from work have decreased by more than 40% for at least one week; and
- You have worked 600 hours in the last 52 weeks or since the start of your last claim, whichever is shorter. If you have had an EI claim in the last 52 weeks and you have worked less than 600 insured hours since your last claim, you should contact Services Canada at +1 800 206 7218.
For those who are self-employed, there are two additional criteria that must be met:
- The amount of time spent on your business has decreased by more than 40% for at least one week due to your medical condition; and
- You earned at least $7,279 of self-employed earnings in 2019.
How to apply?
Have the following information ready:
- names and addresses of your employers in the last 52 weeks
- dates you were employed with each employer and the reasons you’re no longer employed with them
- detailed explanation of the facts if you quit or were dismissed from any job in the last 52 weeks
- full mailing address and your home address, if they are different
- social insurance number (SIN)
- mother’s maiden name
- banking information, including financial institution, branch (transit) number and your account number, to sign up for direct deposit
The following documents are required to apply:
- Medical certificate – waived if you are claiming EISB due to quarantine
- Record of Employment (ROE)
- Upon completion of the application you will be mailed a benefit statement with a 4-digit access code.
- This access code and your SIN are required to complete bi-weekly reports about your ongoing qualification for EISB.
- Complete these reports online or by calling +1 800 531 7555.
- Government of Canada COVID-19 Benefits and Services
- EI Sickness Benefits
- Government of Canada Support for Individuals
Download the EI Sickness Benefit PDF [ 212 kb ]
We are here to help
We understand that you want to be agile and responsive as the situation unfolds. Having access to experts, insights and accurate information as quickly as possible is critical—but your resources may be stretched at this time.
We’re here to support you as you navigate through the impacts of coronavirus on your business and your investments.
Grant Thornton LLP wants to caution that these rules are still new and continue to evolve as the government continues to re-evaluate the economic impact caused by the COVID-19 pandemic. We may still see changes to these measures—as well as new measures—as the government attempts to address the issues that have been raised by us and the tax community. Therefore, any analysis included herein, reflects our knowledge as of the date and time of this email and may no longer be applicable if changes do occur and you should proceed with caution before making any decisions.