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Business consulting services
Our business consulting services can help you improve your operational performance and productivity, adding value throughout your growth life cycle.
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Business process solutions
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
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Business risk services
The relationship between a company and its auditor has changed. Organisations must understand and manage risk and seek an appropriate balance between risk and opportunities.
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Cybersecurity
As organisations become increasingly dependent on digital technology, the opportunities for cyber criminals continue to grow.
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Forensic and investigation services
At Grant Thornton, we have a wealth of knowledge in forensic services and can support you with issues such as dispute resolution, fraud and insurance claims.
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Mergers and acquisitions
Globalisation and company growth ambitions are driving an increase in M&A activity worldwide. We work with entrepreneurial businesses in the mid-market to help them assess the true commercial potential of their planned acquisition and understand how the purchase might serve their longer- term strategic goals.
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Recovery and reorganisation
Workable solutions to maximise your value and deliver sustainable recovery
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Transactional advisory services
We can support you throughout the transaction process – helping achieve the best possible outcome at the point of the transaction and in the longer term.
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Valuations
We provide a wide range of services to recovery and reorganisation professionals, companies and their stakeholders.
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IFRS
The International Financial Reporting Standards (IFRS) are a set of global accounting standards developed by the International Accounting Standards Board (IASB) for the preparation of public company financial statements. At Grant Thornton, our IFRS advisers can help you navigate the complexity of financial reporting from IFRS 1 to IFRS 17 and IAS 1 to IAS 41.
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Audit quality monitoring
Having a robust process of quality control is one of the most effective ways to guarantee we deliver high-quality services to our clients.
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Global audit technology
We apply our global audit methodology through an integrated set of software tools known as the Voyager suite.
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Corporate and business tax
Our trusted teams can prepare corporate tax files and ruling requests, support you with deferrals, accounting procedures and legitimate tax benefits.
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Direct international tax
Our teams have in-depth knowledge of the relationship between domestic and international tax laws.
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Global mobility services
Through our global organisation of member firms, we support both companies and individuals, providing insightful solutions to minimise the tax burden for both parties.
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Indirect international tax
Using our finely tuned local knowledge, teams from our global organisation of member firms help you understand and comply with often complex and time-consuming regulations.
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Innovation and investment incentives
Dynamic businesses must continually innovate to maintain competitiveness, evolve and grow. Valuable tax reliefs are available to support innovative activities, irrespective of your tax profile.
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Private client services
Our solutions include dealing with emigration and tax mitigation on the income and capital growth of overseas assets.
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Transfer pricing
The laws surrounding transfer pricing are becoming ever more complex, as tax affairs of multinational companies are facing scrutiny from media, regulators and the public
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Tax policy
Tax policies are constantly evolving and there are a number of complex changes on the horizon that could significantly affect your business.
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Outsourcing Changes to the Outsourcing legislation, specifically when offshoringSignificant changes to the dynamic of the financial services sector in recent years have shifted the paradigms in how we work. The increased digitisation of the workforce, changes in business models, globalisation, and remote working capabilities have led to a new approach to the delivery of services.
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Asset management Inflation and tax planningThe recent onset of rapid inflation is an unwelcome development that is having a widespread impact on US businesses and tax planning.
Challenges of understanding your data
A relatively high proportion of organisations do not understand their data or successfully manage the associated risks. Less than two in three (65%) are trying to fully understand the data they hold, and only half (56%) assign a risk profile to this critical business asset.
But getting to grips with data is not easy and cannot be taken lightly. As they try to understand their data, businesses must overcome several challenges.
1. Legacy risks and emerging threats: a disconnect
In many businesses, the risk function was established to track, measure and mitigate a defined list of insurable business risks. These legacy teams are often less experienced in managing fast-evolving, non-physical risks. As a result, data breaches and infiltration by hackers may not be as ingrained in the risk mitigation strategy as other threats. This could help to explain why a relatively modest number of businesses worldwide assign a risk profile to their data.
2. Passive avoidance: data owners are resistant to extra work
As with any process-driven internal initiative, organisations are likely to experience resistance from stretched employees who are already busy with their day-to-day tasks. It’s not surprising that some try to skip their new responsibilities.
It is difficult to get the balance right. If you ‘over-secure’ and enforce some highly rigid controls, you risk creating an unpleasant working culture that leads to attrition. But if you are too lax in implementation, you get ‘passive avoidance’, where people ignore guidance, or mark something as low priority, to make their lives easier.
3. Right people are out the loop
If you do not have buy-in at the highest level, any enterprise-wide data initiative is likely to fail. This isn’t just because the leadership can provide governance and give the programme its due level of importance – it also ensures that those involved in assessing the data are clear about its wider strategic relevance. Beyond the C-suite, this may also mean bringing in people from all corners of the organisation.
4. Inconsistency in application
Despite guidance such as the CIA model (as mentioned in chapter 3), it is difficult for large organisations to achieve consistency in how their people think about data. Exacerbating this problem is the fact that the risk attached to one data set may change over time depending on its relevance to current business priorities.
5. Underestimating the cyber threat
For some organisations, the principal threat of cyber risk is considered to be the loss of customer data and reputation damage caused by negative media coverage. But this hasn’t proven to be as damaging for some companies as originally expected – leading some to downplay the harm that a hack could cause.