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Statutory Audit
We conduct an integrated audit, which combines the financial statement audit,independent and objective assurance on financial information, transactionsand processes.
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Limited Review
We offer services relating to reviews of historical financial informationby expressing negative assurance on such historical financial information.
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Agreed Upon Procedures
We engage with organisationsto perform specific procedures and report findings to conform to their needs.
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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.
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Business Consulting
Grant Thornton UAE provides organisations with implementable plans that drive sustainable growth strategies to grow and optimise their business performance.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Excise Tax
We provide Excise Tax related advisory and compliance services to the producer, importer, and the storekeeper of excisable goods
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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.
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HR & Payroll Services
HR & Payroll Services
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Outsourcing Advisory Services
Outsourcing Advisory Services
Integrated Performance Management: How is it aligned with shareholder value?
Businesses implement performance management tools to enhance shareholder value
When these tools are implemented in a fragmented manner without a cohesive approach and strong integration across the organization (strategy, people, processes, and systems), they do not create a strong link between employees’ performance and shareholder’s wealth, nor do they lead to transparency throughout the organization.
The implementation of these tools is costly and if they do not lead to the desired alignment, the capital invested can be futile, which often requires additional funds for the integration. The pathway of successful companies indicates that when there is a clear strategy to effectively integrate performance management tools across the organizational elements of strategy, people, processes, and systems, an enhanced alignment is achieved between shareholder’s interests and employees’ actions. Alongside this, the integration of different tools leads to cost savings and the implementation of cost-efficient solutions.
Companies often adopt business management and improvement methodologies in fragmented ways. Frequently following a need to set a direction, businesses develop a corporate strategy with their internal resources or with the involvement of a professional consultancy. Once the strategy is in place, the consultants leave and the strategy team is disbanded with limited follow-up on the strategic implementation at a later stage. Often, planning, budgeting, and forecasting are implemented using standard IT solutions available in the market.
Later, planning, budgeting, and forecasting are managed by a business planning unit under the CFO’s supervision. Individuals involved in strategic planning do not necessarily play a pivotal role in the planning, budgeting, and forecasting cycle. The balanced-scorecard methodology is introduced to cascade the strategic objectives at both a department and individual level.
This can also be supported by the introduction of career plans for employees. The initiative can be driven by the HR unit of an organization. And again, the individuals dealing with the strategy development and planning, budgeting and forecasting cycle do not always play a pivotal role in this process. As a result, businesses fall into a natural trap – disintegrated business management methodologies, which result in disjoints at key interfaces, which may erode shareholder value in an organization.
With the successful introduction and implementation of integrated performance management tools, strategic plans are strongly integrated with budgets and forecasts. There is support from all functions and the commitment is strong and sustainable. Alongside this, the frameworks for corporate strategy, resource allocation and planning, performance management, and consolidation are strongly integrated. There is an alignment of the strategic thought process with the operational thought process. This shapes and influences business outcome improves decision making, responds to shifting market dynamics, intelligently allocates and utilizes critical resources, and consistently meets shareholder expectations.
No matter how sound the strategy or advanced the technology, solutions that do not prioritize integration often fail to meet expectations. With a plummet in oil prices, overhaul in public finances, impending taxation in the region, reduction in the liquidity of banks, and risk of possible hikes in the interest rate - spending smart and being cost-aware is more so important than ever before.
Integrated Performance Management is the tool that will ensure that costs are well-controlled, given any costs are traced with the value they bring – which in turn will ensure investments within the organization will deliver value and that businesses continue to retain and enhance their competitive advantage in the market over a prolonged period.
To read the associated white paper in further detail, please click here [PDF][341 kb]. [ 340 kb ]
Article featured in CFO Middle East Magazine and can be accessed via this link