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.
Private business owners decide to sell their business 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.
The Canadian marketplace is poised for major shift. A 2019 survey revealed 40% of Canadian dealmakers expect the volume of domestic M&A deals to go up significantly as acquirers look to take advantage of continued growth in the domestic economy. However, slowing global economic growth may lead some companies to be cautious and more careful in their due diligence when making an acquisition. This means it’s more important than ever to enter the market prepared. For a successful sale, your business needs to stand out in a crowded, competitive marketplace.
By taking active measures now, 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.
 Mergermarket and CITI, “Upward bound,” 2019.
 Moody’s, “Global economic growth will remain sluggish as pessimistic business sentiment and trade uncertainty cloud 2020 outlook,” November 14, 2019.