-
Statutory Audit
We conduct an integrated audit, which combines the financial statement audit,independent and objective assurance on financial information, transactionsand processes.
-
Limited Review
We offer services relating to reviews of historical financial informationby expressing negative assurance on such historical financial information.
-
Agreed Upon Procedures
We engage with organisationsto perform specific procedures and report findings to conform to their needs.
-
Financial Reporting Advisory Services (FRAS)
Our team provides timely advice on the impact of accounting changes to assist businesses in the development of an appropriate implementation roadmap.
-
Business Consulting
Grant Thornton UAE provides organisations with implementable plans that drive sustainable growth strategies to grow and optimise their business performance.
-
Business Risk Services
Organisations need to understand risks thoroughly to be able to manage them better. Grant Thornton UAE helps businesses achieve the best balance between minimising risk exposure, optimising profitability and developing compliance review checklists.
-
Regulatory Advisory Services
Grant Thornton UAE's extensive understanding of the overarching supervisory framework within the region equips our professionals to support financial institutions comply and abide by the set of regulatory mandates throughout the rapidly evolving ecosystem.
-
M&A and Transactions Advisory
Grant Thornton UAE works with organisations on transactions from start to finish, assisting with strategy, identifying risks, executing deals, and helping to unlock their potential for growth and value creation.
-
Restructuring Advisory
Grant Thornton UAE is committed to realising value for shareholders, in a way that recognises and supports the interests of all stakeholders. Our solutions maximise value, provide clarity and direction, and accelerate recovery and transformation for businesses.
-
Technology Advisory & Cybersecurity
IT and technology are fundamental to drive the performance of businesses. Through leveraging the power of technology, Grant Thornton UAE helps organisations define and identify growth opportunities to achieve value-driven transformation and innovation.
-
Forensics
Fraud and corruption pose a growing challenge worldwide. As the commercial landscape changes, an increasingly regulated environment requires stringent governance and compliance processes. Grant Thornton UAE helps organisations navigate challenges and crisis with a hands-on approach coupled with the use of technology.
-
ESG Services
The Environment, Social and Governance (ESG) agenda has gained significant traction over the years, to become one of the key strategic aspects of any business. It is imperative that all organisations, irrespective of industry sector, engage with their stakeholders and prioritise ESG practices to unlock sustainable growth opportunities.
-
Corporate Tax
Our diversified team of corporate tax subject matter experts combines a perfect blend of international experience across several industry sectors, technical expertise, and commercial nuances with a commitment to deliver exceptional value to your business.
-
VAT
The VAT team at Grant Thornton is well versed with the VAT Laws applicable across the region and holds valuable experience and professional accreditation in assisting clients across diverse industries to comply with the VAT obligations.
-
Transfer Pricing
Grant Thornton UAE assists its clients in providing transfer pricing solutions that are implementable and operational, considering the facts and concerns of its clients.
-
International Tax and Tax Due Diligence
Grant Thornton UAE supports multinational groups to optimise their tax structures. We can also assist businesses in analysing existing group transactions and inter-group supplies, as well as advising on potential implications of various taxes to facilitate an efficient Group tax structure.
-
Economic Substance Requirements
Economic Substance rules were introduced in the UAE in 2019, requiring UAE businesses that undertake certain ‘Relevant Activities’ to maintain and demonstrate adequate substance.
-
Customs and International Trade
The team at Grant Thornton is positioned centrally to assist the businesses with global cross-border tax structuring, planning and compliance needs.
-
Excise Tax
We provide Excise Tax related advisory and compliance services to the producer, importer, and the storekeeper of excisable goods
-
Incorporation and PRO
We provide guidance and help with setting up new entities in the UAE’s mainland and all the UAE free zones, as well as re-domiciliation of companies in the UAE. Our team drafts the needed legal documents and interacts with government authorities on various regulatory matters.
-
HR & Payroll Services
HR & Payroll Services
-
Outsourcing Advisory Services
Outsourcing Advisory Services
Building sustainable monetary landscapes: A collective approach
Conceptually, sustainable development has existed for decades. The application of sustainable strategies has gained impetus over the years. This happened as the world recognizes and reflects on the effects of climate change and environmental damage. Events like COP28 have rendered valuable insights into worldwide sustainability initiatives while underlining the need for collective action. Such forums catalyze efforts toward de-carbonization, investment in green finance, and a focus on renewables.
In achieving collective action, we must not ignore finance flows. They shape an economy and enable the transition toward sustainable progress. A summary for policymakers in the Global Environmental Outlook for Business by the United Nations Environment Program affirms that environmental issues that are discussed in relation to economic and social issues are better managed. Indeed, the need of the hour is a commitment to refurbishing the economic and financial systems across the world to respond to today’s challenges.
Financial systems play a pivotal role in addressing the conversation on climate change. They are also essential in deploying resources toward effective strategies to help transition to a sustainable economy. With technical expertise and a better understanding of capacity building, the finance industry is the most suitable to engage with stakeholders from other industries. The industry can catalyze collective action. According to the United Nations Environment Program’s latest State of Finance for Nature report, approximately $7 trillion is invested globally every year in activities that have a direct negative impact on nature from both public and private sector sources – equivalent to roughly 7 percent of global gross domestic product.
Transformation
The vital role of financial systems is highlighted in the transformation of various sectors to align with sustainable goals and standards. These include food, energy, manufacturing, transportation, infrastructure and development, and waste systems. For instance, in response to the call for climate action at COP28, Grant Thornton and many other partners committed to using the International Sustainability Standards Board’s Climate Standard as the global climate baseline. Such support demonstrates the need to advance action-oriented responses to the risk of climate change by enabling climate-related disclosures at a global level. A well-developed framework is necessary to manage the transition efficiently and effectively.
The stability of financial systems, climate and the economy are therefore interrelated. Policymakers are now subsidizing and incentivizing efforts that will transition to sustainable business models and circular economies. Access to finance will soon depend on sustainability goals. And in the near future, companies will need to restructure their financial portfolios to accommodate sustainable projects. Evidently, sustainability is now a crucial factor in third-party financing in debt and equity.
With the increasing dominance of technology in all spheres of the economy, financial systems are not immune. Technology comes as a boon in analyzing deeply and fully assessing the allocation of sustainable assets from an environmental and social perspective. New technologies like artificial intelligence and the use of cryptocurrencies lend a layer of security and efficiency in achieving sustainable goals. With advanced technology, financial systems can better analyze risk. They can also set mitigating strategies while introducing sustainable processes to complement a business. Consequently, this will lead to an economic reorientation that includes environmentally sound and digital transition. It will give rise to resilient systems that align with the goals of the Paris Agreement and Sustainable Development Goals set by the U.N.
Read: UAE extends Year of Sustainability to 2024
Role of financial services consultants
As advisers, financial services consultants have a large role to play in shifting mindsets to embrace sustainability. By facilitating the move to integrate sustainability, advisers can steer the conversation across industries through implementing frameworks and strategies. They can also do so by sharing their vast expertise and capabilities in the process.
Advisers can encourage balanced, sustained growth with focused knowledge building. They open new possibilities and avenues for sustainable investment. Additionally, they convey the risk of not acting on sustainable practices and suggest areas of redistribution of assets. Using technology, advisers are better equipped to understand disclosures and incorporate climate-related considerations and practices into governance and risk management. Focused, active engagement with clients, investors, regulators and policymakers will bring holistic perspectives to their approach. They can then affect a major transformation of finance and risk reporting processes to prepare clients to work proactively to align with global sustainable finance requirements.
To conclude, it is imperative to recognize that the integration of sustainable strategies is key to operating a business successfully. Simultaneously, a financial system that neglects sustainable practices is destined to fail in the long term. This responsibility lies with advisers who can guide leaders to build sustainable, equitable financial systems that generate economic, social and governance gains. Ultimately, it must align with global initiatives. It is a collective, transparent approach that inspires confidence for all stakeholders involved in the industry.
-
![Hisham Farouk]()
Hisham Farouk Hisham is the CEO of Grant Thornton UAE who has successfully led the firm’s offices in Dubai, Abu Dhabi and Sharjah for over 10 years. With a focus on innovation with exemplary leadership, he has played a key role in transforming the firm into one of the fastest growing companies in the UAE.View Profile
