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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.
Hisham Farouk, Managing Partner of Grant Thornton discusses supporting dynamic entrepreneurs.
Hamad Bu Amim, director general of the Dubai Chamber, said “The global financial crisis showed the need of growing economies to support innovative ideas and adopt youth enterprises. It is vital to focus on entrepreneurial growth in order to boost SMEs as these businesses also contribute significantly to employment and economic activity.” (as cited in Arabian Business, May 28)
Entrepreneurship within the UAE has steadily increased as government initiatives are put into place to encourage new thinking and innovative ideas. The country heavily supports and encourages dynamic businesses that have an instinct for growth, whether a sole trader startup which with the right professional advice and management can become a large conglomerate, or a family owned business which is passed from one generation to the next.
Recent years, has seen an influx of entrepreneurs with many people developing an initiative or vision and translating these into dynamic businesses. Evidence shows that, “since the emergence of the global economic crisis, the importance of SME’s and creative entrepreneurs has increased in parallel with the declining fortunes of other sectors”.
Universities and graduate programs encourage and promote entrepreneurship as a feasible career pathway, which further supports today’s generation to develop into the leaders of tomorrow. Such support enthuses graduates to think like dynamic future leaders, which in turn supports economic success and renders further opportunities for following generations. It also continues to diversify the economy and creates balanced growth, aswell as encouraging and empowering female entrepreneurs.
As a region, we continue to see a rise in the number of dynamic entrepreneurial startups. We at Grant Thornton UAE believe that it is imperative to support entrepreneurial businesses that with the right business advisors can mature and grow.
In support of entrepreneurial businesses, we have great pleasure in announcing that we will be sponsoring the ‘Entrepreneur of the year’ award at the SMEinfo awards due to take place in November. I will be part of the judging panel and will offer support and guidance to these businesses, which with meaningful and actionable advice can become dynamic in their approach and continue to grow to become the market leaders of the future.
