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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.
ADNOC: GT listed as an ICV independent certifying body
ADNOC: GT listed as an ICV independent certifying body
The ICV Programme was launched in 2018 by the Abu Dhabi National Oil Company (ADNOC) to encourage and accelerate socio-economic development, to facilitate and improve knowledge transfer and to generate jobs in the private sector for UAE Nationals. Due to the programme’s success, it has expanded to other sectors including the government of Abu Dhabi represented by Abu Dhabi Department of Economic Development, Aldar Properties, Abu Dhabi Ports, Mubadala and Emirates Nuclear Energy Corporation (ENEC).
Today, over 4,200 suppliers from multiple sectors have been certified under the ICV Programme. The successful programme has driven more than AED 76 Billion back to the UAE economy and created over 2,000 job opportunities in the private sector for UAE Nationals.
In the ICV Programme, suppliers are evaluated on an annual basis by a third-party verification body. Grant Thornton has been appointed as an independent certifying body and is authorized to issue the ICV certification. A suppliers ICV rating will in turn form an integral part of the business transactions with the participating entities.
The evaluation will examine the capabilities of the business within the UAE in areas including:
- Local manufacturing
- Third party spending
- Local investment
- Emiratization of workforce
- Expatriate contribution
Grant Thornton on ICV
“As a company, we share the values of the ICV programme where we value and invest in the growth and prosperity of the UAE Economy. The programme is a fantastic initiative that promotes transparency whilst creating opportunities benefitting the UAE economy as a whole. It is with great honour that Grant Thornton signs the MoU with the ICV participating entities and we are very much looking forward to future engagements,” said Samer Hijazi, Office Managing Partner of Grant Thornton Abu Dhabi.
Hisham Farouk, CEO of Grant Thornton UAE further stated “Grant Thornton has, a long legacy in the region and we support all initiatives that reimburse the growth of the UAE. As a firm, we strive on transparency and we aim to add value to entities who are focused on growth, building real value and to invest in innovative models for the future, hence this initiative is a natural progression for Grant Thornton to move with the prosperous future of the UAE."
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![Hisham Farouk]()
Hisham Farouk Hisham is the CEO of Grant Thornton UAE who has successfully led the firm’s offices in Dubai, Abu Dhabi and Sharjah for over 10 years. With a focus on innovation with exemplary leadership, he has played a key role in transforming the firm into one of the fastest growing companies in the UAE.Follow on LinkedInView Profile -
![Samer Hijazi]()
Samer Hijazi Samer has extensive experience leading complex audit engagements for global investment banks, FTSE 100 banks, sovereign wealth funds, investment managers, international and local banks. He has directed the audit of financial services teams of clients that have multi-location operations, in Europe, Asia, Africa and the Middle East.Follow on LinkedInView Profile
