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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.
Compliance with NCEMA Guidelines
19 Mar 2020In a race against time, governments are issuing directives on effective precautions against the Novel Coronavirus (COVID-19) globally to prepare for what is to come as peak-virus over the next 4 to 6 weeks.
In the face of one of the biggest global pandemics the world has experienced in the 21st century, governments and health organizations increasingly encourage the public to practise isolation and social distancing. In the UAE, companies are opting for mobile working to ensure continuity of business operations.
The National Emergency Crisis and Disasters Management Authority (NCEMA) of the UAE has released the Business Continuity Readiness Guidelines for UAE Organizations (AE/SCNS/NCEMA 7002:2020) to maintain the provision of essential services and goods, and to reinforce sustainable cooperation as well as the importance of synergy between all concerned organizations.
The guideline instructs all organizations at federal, local, and private levels across the UAE to adopt the specified approach to assess the risks, threats, weaknesses and consequences to organizations as a result of the COVID-19 pandemic.
Recommended Actions
We, at Grant Thornton, understand that you want to be agile and responsive as the consequences of the COVID-19’s outbreak unfold. Therefore, we are here to support you and your organization as you adopt the guidelines provided by NCEMA, and to help you prepare to face the current crisis. In this context, you are recommended to implement the below easy-to-follow 6-step guide which will assist you in complying with the Government issued guidelines.
- Activate your business continuity plan by enabling procedures to respond to the current crisis.
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Ensure readiness of your IT infrastructure to implement “work from home” facilities for the foreseeable future.
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Ensure readiness of your employees to leverage digital tools to operate remotely and at flexible hours.
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Determine the number of employees for customer facing / backend jobs, and facilitate them to work from different locations in order to reduce contact.
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Coordinate with your third party service providers to ensure minimum disruption to your entire supply chain management of the business.
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Ensure data privacy and cyber security of your business while adopting innovative ways to operate in this crisis.
Contact us for a fast-track assessment of your organization readiness to comply with NCEMA 7002:2020 guidelines and to combat the risks this global pandemic poses to your organization. You can contact Avik Chandra, Associate Director of Transformation Advisory, for more information avik.chandra@ae.gt.com.