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.
Family Business How to choose a Family Enterprise AdvisorFrom the beginning, it’s about trust and results. The right Family Enterprise Advisor (FEA) should provide you with the confidence to make strategic decisions as well as possess a deep empathetic understanding of your family business’ unique challenges. Put simply: they should take a significant weight off your shoulders and get the results you need.
Family business Glossary of family business termsGlossary of family business terms
Reevaluate your next steps How do I develop an exit strategy for my business?We introduce questions that can help you determine if now is the right time to exit, the advantages and disadvantages of various exit options, and associated tax implications.
Tax Services Bill C-208: what you need to consider nowChanges to Bill C-208 may come as early as November 1. In this video, Keith MacIntyre discusses three things for business owners to consider now.
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.
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.
Tax alert ACT Program – Research and Innovation Stream explainedThe ACT Research and Innovation Stream provides financial support to organizations engaged in pre-market innovation.
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.
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.
National Service Line LeaderView profile
Build a legacy for your family
Whether built on generations of legacy or newly starting out, family businesses are valuable contributors to Canada’s business landscape—but they can be complicated. Emotional challenges combined with interpersonal dynamics can strain relationships and create roadblocks.
We understand the unique needs of family businesses. Our experienced Family Enterprise Advisors (FEAs) can help establish harmony among all stakeholders in your family business by maintaining a neutral position and bridging the gap between competing interests to find a unified purpose and mutually beneficial path forward. With stronger collaboration, everyone will be able to regain their passion for the business and commit to its success. For us, it’s about empowering this generation—and beyond.
Our approach comes from a deep understanding of the three-circle model which includes the intersection of the family, ownership, and the business itself. These three connections are crucial to knowing your family business’ challenges and opportunities and how best to create your unique path to success.
Governance and Planning
As your family business evolves, it needs strong governance to maintain focus and continuity. Without it, broken communication, strained relationships, and ultimately the breakdown of the family business can happen.
Our FEAs establish communication processes with sincerity, empathy, and a deep understanding of your business and relationships so that all stakeholders have a shared voice in defining a strategic direction together.
We can help you with:
- assessing your current governance, family, and ownership structures
- implementing family protocols and channels of communication
- facilitating annual meetings, management meetings, and ownership councils
- establishing an advisory board
- developing long-term growth strategies aligned to the family’s purpose and values
Whether you’ve run the business from the beginning or have taken it over from a family member, selling your family business or growing it by buying a new business is not easy. It takes careful planning, structured intention, and a lot of emotional processing by you and your stakeholders. Our FEAs can translate the technical side of transactions while providing the empathy and emotional support needed to make critical decisions.
We can help you with:
- facilitating pre-transaction discussions with the family to understand individual expectations and help diagnose potential conflict
- assisting family members with the post-transaction phase of business
- supporting family members with their personal transition
- executing the transaction strategy
- developing the post-close vision and strategy
- guiding the family through post-transaction requirements as needed, including family office
Family Wealth Planning
Whether you’re looking to grow, manage or preserve, your approach to your family’s wealth should have purpose and reflect everyone’s shared values and beliefs. These will likely evolve over time, requiring foresight and strategic planning.
Our FEAs recognize wealth goes beyond finances—it includes intellectual, social, and human capital. We can help you navigate complex family relationships and harness and manage each of the wealth categories to fulfill your family’s unique purpose.
We can help you with:
- preparing consolidated family wealth reports
- developing and tracking family enterprise models
- refining estate planning objectives to include wills and trusts, inheritance and wealth transfer, philanthropy, and the protection of assets
- ongoing management of estate planning objectives which may include renumeration policies, lifestyle management, family and enterprise shareholder agreements and leadership and talent management of family and non-family members
- liaising between family members and the family advisors which may include an accountant, facilitator, lawyer, investment or wealth advisor, insurance advisor, banker, family therapist, independent directors, and non-family executives