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Financial Reporting Advisory Services
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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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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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We are equally experienced in the adoption and implementation of International Public Sector Accounting Standards (IPSAS).
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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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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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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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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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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.
UAE businesses remain cautiously optimistic for the year ahead whilst optimism around the world is slightly down from Q3 2015
Grant Thornton report reveals: UAE businesses remain optimistic
New research from Grant Thornton reveals that going into 2016, UAE businesses remain cautiously optimistic for the year ahead despite the spotlight being heavily focused on the oil & gas sector which has seen a rapid decline in prices, impacting other sectors and economies in the GCC which are highly dependent.
According to the research globally, business optimism heading into 2016 stands at net 36% - only slightly down from Q3 2015 and just above the 35% recorded a year ago. For the first time since the financial crisis, it is the EU which provides the bedrock of stability. Net 38% of EU businesses are optimistic about their economy over the next 12 months, exactly the same as in Q3 and Q1.
Meanwhile the US has seen optimism fall from 74% to 50% in Q4, the biggest fall of any of the 36 countries surveyed. 2016 also looks much brighter for businesses in Asia Pacific and Latin America as both report big quarterly increases in optimism.
Hisham Farouk, CEO at Grant Thornton, said:
“The resilience in the UAE business community is remarkable when you consider the potential flashpoints. Despite the recent oil price woes, businesses are remaining cautious optimistic as a result of increased efforts by the government in the UAE to diversify the economy. Investment in R&D and innovation is on the increase, the government budget saw only a slight decline from last year and emerging markets such as India and China, continue to present opportunities for UAE businesses”.
“The UAE has one of the most stable economies in the world and has witnessed remarkable growth in recent years, which continues to position it high in terms of global competitiveness. The International Monetary Fund (IMF) has projected growth at 2.6 per cent this year as a result of slower public spending amongst the Gulf countries, reduced sentiment in neighbouring countries such as Saudi Arabia which is expected to spend 13 per cent less year on year when it comes to public spending, and various macroeconomic global issues.”
“The UAE economy has remained somewhat resilient in comparison to other markets, as a result of diversification, government initiatives and the ease of doing business. Whilst the country’s economy has remained fairly impervious, tightening of liquidity across the GCC, the impact of low energy prices and a deceleration in financial growth, credit and increased regulation will remain a challenge for businesses this year.”
The report was launched at an event attended by senior professionals from the Emirates, with presentations from Razan Nasser, Senior Economist at HSBC Middle East who opened the event by sharing the economic outlook for the Middle East.
Dr. Raed Safadi, Executive Director of the Research and Policy Sector at Dubai’s Department for Economic Development concluded the Economic Outlook event by presenting the outlook for Dubai which illustrated how the Emirate is making significant leaps in the region to capitalize on its world-class infrastructure and its logistics, trade and transportation assets and bilateral relationships with economies such as India and China, to further drive the diversification of its economy where, today, it derives 70% of its GDP from the non-oil sector.
The event concluded with Hisham stating:
“The global economy continues to change and evolve, with shifting landscapes in major economies creating new challenges but also new opportunities. Those businesses with an instinct for growth will be best placed to spot these emerging pockets of opportunity, build new trade links, and make the most of the brighter outlook being reported for 2016.”
To read the report, click here [PDF][3613 kb]. [ 3612 kb ]