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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.
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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.
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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.
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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.
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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.
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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.
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Research and development and 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.
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Indirect tax
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.
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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.
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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.
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International tax
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.
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Transfer pricing
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.
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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.
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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.

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Transactions
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.
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Restructuring
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.
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Forensics
Market-driven expertise in investigation, dispute resolution and digital forensics
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Cybersecurity
Viruses. Phishing. Malware infections. Malpractice by employees. Espionage. Data ransom and theft. Fraud. Cybercrime is now a leading risk to all businesses.
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Consulting
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.
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Creditor updates
Updates for creditors, limited partners, investors and shareholders.

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Governance, risk and compliance
Effective, risk management—including governance and regulatory compliance—can lead to tangible, long-term business improvements. And be a source of significant competitive advantage.
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Internal audit
Organizations thrive when they are constantly innovating, improving or creating new services and products and envisioning new markets and growth opportunities.
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Certification – SOX
The corporate governance landscape is challenging at the best of times for public companies and their subsidiaries in Canada, the United States and around the world.
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Third party assurance
Naturally, clients and stakeholders want reassurance that there are appropriate controls and safeguards over the data and processes being used to service their business. It’s critical.
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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.
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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.
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Tax alert ACT Program – Research and Innovation Stream explainedThe ACT Research and Innovation Stream provides financial support to organizations engaged in pre-market innovation.
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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.
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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.
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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.
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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?

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Mining
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.
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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.

Business owners decide to sell for many reasons. You may want to retire, gain financial liquidity for new opportunities, or pursue new synergies with a complimentary business. You may find your business growth exceeds manageability, or perhaps you want to take care of your family by de-risking your assets.
For a successful sale, your business needs to stand out in a crowded, competitive marketplace.
By taking active measures ahead of time, you’ll not only be better prepared to weather the sales process, but you’ll increase your odds of finding the perfect buyer, maximizing price and ensuring a seamless transition. If you don’t prepare for a sale, you may not get the right price for your business, leaving money on the table. Your business operations may be disrupted during the sales process due to lack of preparation or confidentiality. Importantly, you risk the possibility of a failed deal if you enter the sales process unprepared.
Six essential steps
Following these steps can help you increase the likelihood of a sale:
1. Plan for success
Planning the sale of your business should begin well in advance. You need to develop a strategy that includes:
- Immediate adjustments to your business that will increase its value to potential purchasers,
- Gathering information on the best time to sell,
- A potential purchaser list with key points on how your company would benefit each purchaser,
- A breakdown of what arrangements would be needed with suppliers and customers, and
- A list of employee and real estate commitments.
Developing this strategy will help you understand the strengths and weaknesses of your business, groom your business for sale and make sure you can maintain “business as usual” during a potentially long sales process.
2. Get the best price
Timing and market conditions will affect the price you get for your business. In addition, finding a strategic buyer—a buyer who can leverage the strengths of your business with another operation—can potentially give you a greater return than a buyer who plans to keep the business running at status quo. Your business advisor can help you with a diligent sales process that should help improve the price a potential purchaser will pay.
3. Get prepared
You’ll need to prepare an information memorandum, which is an overview of your business that will be used to attract potential buyers. High-level details such as a company profile and market analysis are provided to determine level of interest and set an initial price. Detailed particulars are provided only after a potential buyer has been pre-qualified as a serious would-be purchaser and they sign a confidentiality agreement.
4. Find a buyer
Identifying potential purchasers that have a good strategic fit with your business and vision is achieved through a combination of confidential research and developing a list of purchasers who are active in the market. Once appropriate targets are identified, we will approach them confidentially, keeping the names of the company out of initial discussion to avoid harm to your ongoing business.
5. Negotiate the deal
Careful negotiation is essential, as the terms you and the buyer agree to will affect the price you will receive for your business. To negotiate the terms that give you the best deal, you should carefully consider the following:
- Should you sell assets or shares in the business?
- How much of the purchase price do you want at closing?
- Will there be deferred and/or contingent payments?
- How involved (if at all) will you be after the sale?
- How do you want your management and employees treated after the deal?
Your advisor should be there to assist you during the negotiating phase. This will help you stay focused on the important issues and simplify the coordination of other professionals, such as legal, tax, environmental, and accounting representatives. It will also keep negotiations on a professional level, so you can achieve terms that best meet your desired outcome.
6. Move quickly to finalize the deal
Once you locate a buyer and come to an agreement on major terms and price, it’s best to close the deal as soon as you can. Remember, your business is not really sold until the paperwork is signed.
Plan for success.
The sales process is a long one, so it pays to start planning well in advance. It also pays to have the right advisor beside you every step of the way. You’ve invested countless hours and immeasurable energy into building your business, so it’s important to put the same level of investment into ensuring a successful sale.
At Grant Thornton, our business advisors can help you through the sales process, from initial planning to successful close. Our professionals offer meaningful, actionable and holistic advice to allow you to meet your business goals and needs. Our commitment is to work closely with you throughout the sales process to make sure it’s managed efficiently, professionally and successfully.
[1] Mergermarket and CITI, “Upward bound,” 2019.
[2] Moody’s, “Global economic growth will remain sluggish as pessimistic business sentiment and trade uncertainty cloud 2020 outlook,” November 14, 2019.