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.
- Transactions Transactions
- Restructuring Restructuring
- Forensics Forensics
- Creditor updates
Prepare for the long-term success of your deal
Integration and separation sound like opposing ideas—yet both can help provide a clear path for the future of your business. After a deal is closed and a business is sold, there’s more to be done before the champagne bottle is popped. You’ve now entered a new and critical phase that 2 in 3 businesses often fail to prepare for. How do you successfully join businesses, including their operations, products or services, and people? Or, how do you successfully carve out a piece of a business to sell? How do you know how much a piece of a business is worth that you want to buy?
Whether integrating or separating a business, it’s a complex process that requires planning, communication, and expertise. Our team of experienced advisors can help you find the path forward
What is integration?
Integration brings two or more companies together, after an acquisition, with the goal of combining the people, processes, and technology of the newly formed organization—for a seamless transition.
What is separation?
Separating a division—also known as a carve-out—or the sale of business, involves separating a business unit, subsidiary, or line of business from its parent company. Whether it’s a division, product line, brand, or a portfolio of assets, it’s essential to carefully plan the divestiture to get returns on your investment quickly.
We can help you:
Realize your deal’s value by planning, developing, and assessing your overall strategy, helping a complex transition run more smoothly.
Identify and mitigate risks including those associated with a deal (e.g., customer retention, employee retention, infrastructure, etc.), business process risks (governance, resources etc., and market risks (economic downturns, new technologies etc.).
Maintain business stability by avoiding disruptions to your day-to-day operations while completing your integration or separation strategies and checklists.
- Integration and separation strategy development: Early-stage planning of how to integrate or divest an operation and achieve maximum value.
- Integration blueprints: Develop a blueprint that includes a list of critical activities to capture value and mitigate risk, and other supporting materials to launch an effort.
- Integration playbooks: Leverage the integration assignment to create a playbook, documenting processes and intellectual capital and creating a sustainable, repeatable process for future transactions.
- Integration readiness assessments: Does the business have a robust integration plan? A readiness assessment can quickly identify potential areas out-of-sync with objectives and improvements that enhance the overall process.
- Integration effectiveness assessment: How did the business perform in terms of the integration? Were all the objectives achieved? We can perform an effectiveness assessment 90- to 120-days post-closing, identifying areas that might have been missed or improvements for subsequent integration efforts. Sometimes, these reviews are performed as part of internal audit review.
- Separation interdependency assessment: Identify all entanglements between a seller’s organization and the target, which allows for decisions around the need for transition services, day one separation plans, and other actions to successfully operate the acquired operation at closing.
- Separation planning and execution: Define an optimal day one target operating model, the scope of transition services, and associated governance model; prepare a Day 1 Readiness Plan and Detailed Migration Plan to shift away from transitional support (buy-side); and address stranded costs (sell-side).
- Operational due diligence (e.g., commercial, IT/cybersecurity, HR, ESG, DE&I, cultural alignment, supply chain, and operations): Complements financial and tax due diligence, considering various operational areas that often impact the economics of a transaction.
- Synergy assessments: Assess the synergy assumptions provided by the seller or assumed by the buyer, considering whether there is fundamental underlying support. One of the primary reasons for deals failing to achieve the desired rates of return is over-estimating synergies; we can help mitigate this risk.
- Communications and change enablement planning: An integration is a significantly stressful event that can change the everyday lives of the target’s organization. Since most transactions are highly dependent on people, effective communications and change enablement can increase the level of acceptance to change and decrease the risk of key talent defecting.
Integration and Separation Practice LeaderView profile