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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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Financial 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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Business Process Solutions
Our team at Grant Thornton offers comprehensive and cost effective outsourced solutions, enabling stakeholders and business owners to focus on their core business goals.
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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
Hotel Re-Generate: mega trends impacting hotels
Hotels must engage in the digital movement to remain relevant
In 2017, hotel occupancy levels rose by 0.5% to reach 75.1% in the United Arab Emirates (UAE), but the proportion of the average daily rate dropped 3.8% in 2017. In the wake of a challenging global travel landscape, new market entrants, and the rise of online intermediaries, hotels face a new reality in which the brands that will survive will be the ones that can attract and anticipate the multi-faceted needs of the increasingly discerning and digitally native new traveller looking for unique and authentic experiences, according to a new report from Grant Thornton UAE, published today.
Launched at the 14th edition of the Arabian Hotels Investment Conference in Ras Al Khaimah (RAK), UAE today (17 April), the report Hotel Re-Generate: Mega Trends Impacting Hotels considers how hoteliers in the UAE can generate new business and grow their existing market in this age of tech-disruption, shifting socio dynamics and evolving guest preferences.
Online and mobile transactions are taking a larger share of the travel market, particularly given the demographics of the region in which 40% of the population is under 25, and with the UAE, a country where mobile phone penetration at 228%, is expected to launch game-changing 5G technology in 2018. Laggard organisations who fail to be a part of the digital movement online will experience the loss of essential user-behaviour based data which will be key to driving strategy.
86% of travellers now view personalised offers as central to their decision making when making a purchase. The deployment of smart technologies such as artificial intelligence to analyse a guest’s profile, past buying behaviour and social media preferences to make customised offers presents hotels with the means to drive mass-personalisation and unlock new revenue generation potential. Possessing the necessary data together with investing in the right tools and technology could reward hoteliers with increased revenue of as much as 6%.
Hisham Farouk, CEO and Global Board Member at Grant Thornton United Arab Emirates states “in the future, hotels will no longer be viewed as just accommodation providers. The modern traveller expects more, and will be attracted by a holistic set of solutions and bespoke packages. Hotels must leverage cutting edge technology to ensure every guest interaction is personalised and meaningful.”
While Dubai ranks as the sixth most visited destination in the world and continues to strengthen its position as a regional business hub, Grant Thornton’s report considers the notion of intercity competition as Abu Dhabi and RAK continue to build their position in the market to attract a wider share of visitors.
The data shows that RAK is beginning to emerge as the country’s hidden gem, with its hospitality sector expected to witness continued growth with occupied room nights forecast to reach 35.5m annually in 2019 and amounting to a healthy 10.2% compound annual growth rate (CAGR) over the next 24 months.
The market dynamics of the UAE will continue to add ongoing pressure for hotels, specifically given the investment landscape, entrepreneurial flair and ease of doing business in the region continues to develop. Such market forces will continue to see a migration of competitors and new solution providers, which will push hoteliers to think and act differently. Organisations that fail to navigate and apply big-data into its strategy will need to prepare for its customers to be lured away by new market entrants, entrepreneurial businesses and tech-enabled challengers at a click of a button.