Grant Thornton’s Financial Reporting Advisory Services (FRAS) team supports organizations 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.
We at Grant Thornton bring together our technical knowledge and industry expertise benchmarked against similar companies to address the challenges of organisations, expectations of their stakeholders and their regulatory obligations.
Our FRAS team understands that the accounting changes can be swift, and it can be challenging to keep up with all the requirements and their potential impacts. Our team can provide timely advise on the impacts of these accounting changes to assist businesses in the development of an appropriate implementation roadmap.
What Value We Deliver to Our Clients
Our clients value having a specialist and dedicated accounting team, who can act as an independent sounding board to assist them in thinking through complex accounting matters. The summary of services we offer to our clients are as follows:
Business Combinations and Consolidations
- Providing accounting and reporting support on consolidations including business acquisitions along with post acquisition support
- Common control transactions
- Appropriate equity or debt classification
- Mix of other accounting and reporting complexities
Financial Instruments and Hedge Accounting
- Accounting treatment of financial instruments
- Accounting for financial derivatives and commodities contracts
- Accounting memos on complex accounting standards
- Treatment of these accounting standards as per the applicable guidance
- We use our experience and insights on a wide range of accounting standards to assist clients through trainings.
Financial Statements and Models
- Assist clients in the preparation of financial statements in accordance with IFRSs
- Review of complex financial models to ensure compliance with IFRSs
Accounting Policy Reviews
- Preparation and review of enterprise-wide accounting policy frameworks and documentation
- Addressing complexities arising from proposed new accounting standards and guidance, including the impact on existing systems and processes
- Implementation of new accounting standards
- Technical advice on specific accounting standards under IFRSs and IFRIC