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Financial Reporting Advisory Services
Grant Thornton’s Financial Reporting Advisory Services (FRAS) team supports organisations through a diverse range of accounting and reporting services including transaction accounting, analysis and adoption of new International Financial Reporting Standards, training on new and complex standards, and other related services that enable organizations to achieve greater transparency and navigate through the ever-changing regulatory landscape.
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CFO Advisory Services
Chief Financial Officers (CFOs) and finance teams periodically face difficulties in financial reporting and accounting. To address these issues and challenges GT’s team looks to reduce the periodic uncertainty faced by our clients around difficult reporting and accounting standards and can help overcome these difficulties with our CFO advisory services.
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International Financial Reporting Standards
Capability in International Financial Reporting Standards (IFRS) is one of our core skills. We have access to a full-time team responsible for high quality, consistent application of IFRS throughout the global organisation.
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International Public Sector Accounting Standards
We are equally experienced in the adoption and implementation of International Public Sector Accounting Standards (IPSAS).
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In-Country Value
Grant Thornton is honored to be one of the Certifying Bodies to implement the National In-Country Value (ICV) Program for the Ministry of Industry and Advanced Technology (MoIAT)
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Staff Secondment Services
Finding qualified, skilled professionals for a specific purpose and time period can be a significant challenge for many organisations. We alleviate that challenge with a talent pool of highly motivated and technically trained individuals who have excellent soft skills and the agility to adapt quickly to varied client environments.
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Transformation Advisory
We can help you identify, understand and manage potential risks to safeguard your business and comply with regulatory requirements.
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M&A and Transactions Advisory
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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Forensics
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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Restructuring
We have an established standard of excellence for Restructuring within the United Arab Emirates with a focus on client success throughout a complex period of the business life cycle.
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Incorporation and Compliance
Grant Thornton assists businesses in setting up and complying with these regulations and acts as adviser for companies to ensure their activities, policies and procedures follow the guidelines specified by respective regulations.
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ICFR
Grant Thornton is a market leader in providing Internal Controls over Financial Reporting (ICFR) services to many well-known entities in UAE.
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Islamic Finance
Grant Thornton's Islamic Financial Services team comprises a global network of professionals with in-depth knowledge of Islamic finance and providing practical, value added assistance to their clients across a range of specialisms and issues.
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Regulatory Compliance
Grant Thornton holds a proven track-record in Regulatory Compliance advisory, our range of services will facilitate robust guidance to help you manage your regulatory risks and affairs, our teams of specialists assist our clients in the following areas:
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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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Business Process Outsourcing Services
Our team at Grant Thornton offers comprehensive and cost effective outsourced solutions, enabling stakeholders and business owners to focus on their core business goals.
Dubai Silicon Oasis Authority wins the Public Sector International Risk Management Award in London, United Kingdom.
Dubai Silicon Oasis Authority’s risk management team worked closely with Grant Thornton on the identification of enterprise level risks and the development of effective treatment plans for DSOA. The Authority’s continuous efforts to enhance its risk management function allowed it to compete with various internationally renowned businesses and public sector entities. The Authority was one of only two entities from the GCC/Middle East region to take an award home and among an impressive list of winners, which included Coca-Cola, Barclays, Aon and Vodafone among others.
Grant Thornton worked closely with DSOA’s Risk Management Department in enhancing its Enterprise Risk Management (ERM) function, ensuring its board’s engagement in risk management exercises, and advancing its risk culture and maturity level.
As the business environment in which DSOA operates became increasingly competitive, the need to enhance the Risk Management function became critical to maintaining an edge and developing its market position.
Client Challenge
Dubai Silicon Oasis Authority (DSOA) was looking to identify strategic opportunities that may be derived from risks in the business environment in which it operates; including the market’s downward pressure on rental prices, new entrants, added regulatory requirements, and emerging geopolitical risks.
The Authority recognized that an improved understanding of its enterprise risks through root cause analysis was key to the achievement of the objectives listed in its 2021 Strategy.
Furthermore, integrating these risks and their treatment plans into the strategy development process would attest to DSOA’s achieved level of risk maturity and as such it became necessary to outline the risks, develop risk culture at the leadership level, and advance the Authority’s risk assessment practices.
The Grant Thornton Solution
Grant Thornton worked closely with DSOA’s risk management department to incorporate risk as a part of strategy-formation and decision-making at the senior management level. Through interactive training sessions for DSOA’s risk champions and heads of department, the Grant Thornton team stimulated risk and opportunity-based innovation and planning. The business risk team also supported in updating the risk criteria, appetite and tolerance matrix before guiding DSOA in conducting its risk identification exercise through a comprehensive study of its internal and external business environment, in order to assess enterprise risks and develop innovative treatment plans for the top four risks – as per DSOA’s risk management policy. Grant Thornton had further meetings that served as an open forum of discussion between the board and their members of leadership, in order to understand their requirements for risk information and to agree on effective visual reports to communicate it.
The Outcome
The key to the success of DSOA's risk management efforts lies in the teamwork and the leadership’s aspiration to progress, innovate, and be resilient to market fluctuations. By choosing the risk information, selecting measurable key risk indicators, and ensuring risk mitigation through treatment plans activated by dedicated risk champions, DSOA’s risk management team helped the authority’s leadership gain more certainty on the outcome of their decisions.

KEY CONTACT
Melissa Aoun
Grant Thornton UAE
Head of Business Risk Services
M: +971 (0) 58 547 4696
E: Melissa.aoun@ae.gt.com