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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.
Talent squeeze threatens global growth
02 Dec 2014Businesses in world’s largest economies find hiring plans squeezed by lack of skills
Businesses in the world’s three biggest economies, the United States, China and Japan, are increasingly feeling the heat when it comes to recruiting skilled staff according to the Grant Thornton International Business Report (IBR), a survey of 2,500 business leaders in 35 economies. Given that these countries together represent over a third of global output, a deficit of skilled staff could have a significant knock-on effect on economic growth not just in these economies but beyond.
The IBR asked businesses around the world about the extent to which a lack of skilled workers is constraining their ability to grow. Since 2012, the global average has increased by just three percentage points to 31% who say it is a problem. But the rises in the US (nine percentage points to 25%), China (five to 35%) and Japan (12 to 52%) have been far more substantial. The problem has increased as businesses in these markets look to increase hiring: 41% of US businesses want to add people over the next 12 months, slightly ahead of Japan (34%) and China (30%).
Francesca Lagerberg, global leader for people and culture at Grant Thornton, commented:
"It is always a concern when businesses are struggling to plug talent gaps in their organisation. Unemployment is relatively low in both China and Japan, where the populations are ageing rapidly, and the US has been adding jobs at a very healthy rate over recent quarters so businesses have little room for manoeuvre. Because of the collective trading power of these three economies the repercussions of slower business growth will be felt the world over.
"However, on the positive side it is encouraging that businesses are looking to take on new people. Improvements in jobs tend to lag recoveries as companies 'run lean' and wait to see sustainable increases in demand before adding people on permanent contracts. The increase in employment expectations uncovered by the IBR therefore suggests that businesses are more confident in the economic outlook. And of course jobs create demand so the hope is that the global economy is entering a virtuous cycle."
In the US, China and Japan, the proportion of businesses looking to hire new workers is now at its highest since before the global financial crisis according to the IBR. The proportion of businesses citing a lacking of skilled workers has now also reached or surpassed 2008 levels in all three economies.
Francesca Lagerberg added: "As the battle for talent intensifies, business leaders need to ensure they have the right recruitment and retention policies in place. Pay and incentive structures are potent tools, but if a business cannot find the right people externally, then upskilling the current workforce also becomes a priority. Businesses need to invest in their internal training programmes to mould the people that will help them deliver on strategy, innovate and ultimately grow.
"We also need to improve the dialogue between educational institutions, governments and business leaders. Unemployment statistics often hide the thousands of people who have given up looking for work and dropped out of the labour market. The issue isn’t really a shortage of people: it’s a shortage of people with the skills businesses need."
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