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.
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.
One of the most common ways that Canadians are being defrauded every year is through scams whereby individuals impersonate agents of the Canada Revenue Agency (CRA) to falsely obtain confidential information for identity theft purposes or to misappropriate funds.
To protect yourself against such scams, it is important to keep the following information in mind.
How will the CRA contact you?
Many of these scams can be avoided simply by knowing the ways in which the CRA will contact you. You can expect to hear from the CRA in the following three ways:
All communication from the CRA will be accompanied by formal mail; therefore, if you receive any phone or electronic communication, but have not received a written letter regarding the same, you can be sure that further investigation is required.
While it is not uncommon for a representative of the CRA to contact you via telephone to inquire about a previously filed return, you will never be contacted by text message, so it would be prudent not to respond to any request for information sent via text.
The CRA now offers an online mail service, but this is a service that you must sign up for. As such, if you receive email from the CRA, but don’t recall signing up for the online mail service, it is advisable to contact the CRA by telephone to confirm that official correspondence has been issued.
A helpful tool to use in managing your accounts, balances and correspondence with the CRA is the “My Account” service which allows you to log into a secure online portal and verify the information that the CRA has on-hand for you. Signing up for this service will allow you to independently verify any phone calls or emails you receive.
How will you know if you’re being scammed?
While the evolution of technology has made it much easier for scammers to make their requests appear legitimate, there are a number of ways you will be able to know that you are being scammed.
1) An official agent of the CRA will never request that you make payment to them directly. They will also never request that you make payment via gift card or bitcoin ATM.
2) Scammers will attempt to create a sense of fear and urgency to their requests. While the CRA would like to receive payment on overdue balances, they should never use threats to obtain payments.
3) The CRA will typically not threaten police action. An outstanding tax balance is not in itself a criminal action and any criminal proceedings would have to follow a formal process that would allow you to obtain legal representation.
How should you protect yourself?
In the case that you receive a call from someone claiming to represent the CRA, some best practices would be to
- listen calmly and take notes about any requests being made;
- avoid divulging any personal information over the phone, especially information that would not typically be included in a tax return (i.e. passport number); and
- notify the caller that you would like to independently verify the information from the call by either calling the CRA back on their main line or logging into your “My Account”.
The CRA has also provided additional advice on their website to help you protect yourself from fraud.
The Canada Revenue Agency can be reached at: