You trust your external auditor to deliver not only a high-quality, independent audit of your financial statements but to provide a range of support, including assessing material risks, evaluating internal controls and raising awareness around new and amended accounting standards.
Get the clear financial picture you need with the accounting standards team at Doane Grant Thornton LLP. Our experts have extensive experience with private enterprises of all sizes in all industries, an in-depth knowledge of today’s accounting standards, and are directly involved in the standard-setting process.
Whether you are already using IFRS or considering a transition to this global framework, Doane Grant Thornton LLP’s accounting standards team is here to help.
From small, community organizations to large, national charities, you can count on Doane Grant Thornton LLP’s accounting standards team for in-depth knowledge and trusted advice.
Working for a public-sector organization comes with a unique set of requirements for accounting and financial reporting. Doane Grant Thornton LLP’s accounting standards team has the practical, public-sector experience and in-depth knowledge you need.
Whether you are a private or public organization, your goal is to manage the critical aspects of tax compliance, and achieve the most effective results. At Doane Grant Thornton, we focus on delivering relevant advice, and providing an integrated planning approach to help you fulfill compliance obligations.
Are you developing innovative processes or products, undertaking experimentation or solving technological problems? If so, you may qualify to claim SR&ED tax credits. This Canadian federal government initiative is designed to encourage and support innovation in Canada. Our R&D professionals are a highly-trained, diverse team of practitioners that are engineers, scientists and specialized accountants.
Keeping track of changes and developments in GST/HST, Quebec sales tax and other provincial sales taxes across Canada, can be a full-time job. The consequences for failing to adequately manage your organization’s sales tax obligations can be significant - from assessments, to forgone recoveries and cash flow implications, to customer or reputational risk.
The United States has a very complex and regulated tax environment, that may undergo significant changes. Cross-border tax issues could become even more challenging for Canadian businesses looking for growth and prosperity in the biggest economy in the world.
In an increasingly flexible world, moving across the border may be more viable for Canadians and Americans; however, relocating may also have complex tax implications.
While there is great opportunity for businesses looking to expand globally, organizations are under increasing tax scrutiny. Regardless of your company’s size and level of international involvement—whether you’re working abroad, investing, buying and selling, borrowing or manufacturing—doing business beyond Canada’s borders comes with its fair share of tax risks.
Transfer pricing is a complex area of corporate taxation that is concerned with the intra-group pricing of goods, services, intangibles, and financial instruments. Transfer pricing has become a critical governance issue for companies, tax authorities and policy makers, and represents a principal risk area for multinationals.
Like many private business owners today, you’ve spent your career building and running your business successfully. Now you’re faced with deciding on a successor—a successor who may or may not want your direct involvement and share your vision.
The financial and tax reporting obligations of public markets and global tax authorities take significant resources and investment to manage. This requires calculating global tax provision estimates under US GAAP, IFRS, and other frameworks, and reconciling this reporting with tax compliance obligations.
In its last update on August 12, 2024, the Department of Finance (Finance) released draft legislation that proposes changes to these rules, which were originally enacted on December 15, 2022. It’s critical that you determine your trust’s reporting requirements each tax year as the non-compliance penalties are significant.
Our transactions group takes a client-centric, integrated approach, focused on helping you make and implement the best financial strategies. We offer meaningful, actionable and holistic advice to allow you to create value, manage risks and seize opportunities. It’s what we do best: help great organizations like yours grow and thrive.
We bring a wide range of services to both individuals and businesses – including shareholders, executives, directors, lenders, creditors and other advisors who are dealing with a corporation experiencing financial challenges.
Running a business is challenging and you need advice you can rely on at anytime you need it. Our team dives deep into your issues, looking holistically at your organization to understand your people, processes, and systems needs at the root of your pain points. The intersection of these three things is critical to develop the solutions you need today.
The federal government has released draft legislation for the new residential property flipping rule introduced in Budget 2022. Read more in our summary.
Effective, risk management—including governance and regulatory compliance—can lead to tangible, long-term business improvements. And be a source of significant competitive advantage.
Organizations thrive when they are constantly innovating, improving or creating new services and products and envisioning new markets and growth opportunities.
The corporate governance landscape is challenging at the best of times for public companies and their subsidiaries in Canada, the United States and around the world.
Naturally, clients and stakeholders want reassurance that there are appropriate controls and safeguards over the data and processes being used to service their business. It’s critical.
By automating standard administrative and accounting work, cloud accounting with Doane Grant Thornton can free up your time to concentrate on more important...
Legacy is not only about honouring the past—it’s also about looking forward and continuing to build upon those values, traditions, and achievements to create...
Our team is made up of multi-disciplinary, dedicated advisors that can assist your business with a range of ESG considerations, including strategy development,...
Our experienced Family Enterprise Advisors (FEAs) can help establish harmony among all stakeholders in your family business by maintaining a neutral position...
Farming is a lifestyle and a legacy. It’s the heartbeat of your family and the backbone of our communities. Success grows from hard work, patience and...
The Canadian Accounting Standards Board (AcSB) has released new guidance on recognizing, measuring and disclosing biological assets and the harvested products of bio assets.
The Agricultural Clean Technology Program will provide financial assistance to farmers and agri-businesses to help them reduce greenhouse gas (GHG) emissions.
Whatever your goal, the experts at Grant Thornton are ready to work with you to map out a plan for success. As members of the Global Cannabis Partnership...
Here’s to the change-makers, the believers and the community-builders. Charities and not-for-profit organizations truly stand apart from the crowd. In today’s...
In the world of real estate and construction, timing is everything. From acquisition to exit—and every point in between—you need high-quality information and...
Looking back, the theme for 2023 in the real estate industry was one of caution as investors and real estate owners braced for the effects of rising interest and inflation rates to stabilize.
It’s not business as usual within the energy and natural resources sectors. Change has become constant and disruptive, in part a result of consolidation and...
There’s no business quite like mining. It’s volatile, risky and complex – but the potential pay-off is huge. You’re not afraid of a challenge: the key is finding the right balance between risk and reward. Whether you’re a junior prospector, a senior producer, or somewhere in between, we’ll work with you to explore, discover and extract value at every stage of the mining process.
The oil and gas industry is facing many complex challenges, beyond the price of oil. These include environmental issues, access to markets, growing competition from alternative energy sources and international markets, and a rapidly changing regulatory landscape, to name but a few.
Canadian manufacturers seeking to grow their businesses must address common issues, including limited access to finance, high raw material costs, inflexible...
To acquire high-quality assets in today’s unprecedented competitive global market, private equity firms and their portfolio companies must be increasingly...
Professional services firms face a dual challenge: anticipating and managing change not only for your clients, but also for your business. In today’s...
Your hard work has taken your business where it is today. Having a clear vision, a strong team and a solid plan are all key to your continued success....
At Grant Thornton, we have the real-world experience and knowledge that can help you in considering all of your strategic alternatives. Whether it be managing...
Supplement your internal finance team with the skills and expertise you need, when you need them. All without sacrificing your day-to-day deadlines.
The regulatory and the accounting environment is complicated and ever evolving. To navigate these challenges, you need support to understand, plan, and prepare for changes to your financial reporting. That’s where Grant Thornton’s Financial Reporting Advisory Services (FRAS) team comes in.
Our established national team of advisors has proven experience managing evolving accounting standards, complex tax rules, multiple financial reporting frameworks, and the accounting and tax complexities that can arise during major transactions. We can deliver the breadth of accounting advisory services you need with the depth of experience and knowledge you deserve, so you can stay ahead of the curve without interrupting your operations.
Discover the benefits of working with our FRAS team:
Access an extensive suite of accounting advisory services delivered by technical experts
Alleviate internal resource constraints so management can focus on running the business
Enjoy seamless access to and alignment with other transaction support services, such as tax reporting, valuation, internal control, and litigation support/ expert services
Leverage the national and global scope of Grant Thornton member firms, regardless of your location
Gain an in-depth understanding of your external auditor’s expectations around analysis and documentation, and have expert support in meeting them
“Our relationship with Grant Thornton began working with their financial reporting advisory team and soon they became our service provider in various areas of tax and advisory. The firm has supported our journey of rapid growth and continues to provide us with exceptional client service. We appreciate their responsiveness, proactivity, and sound advice. We view Grant Thornton as an extension of our team and a trusted business advisor. We look forward to building on our strategic partnership.”
Digital Media Platform CFO
Prepare for changes to your financial reporting due to changing accounting standards, accounting framework conversions, or large, unusual, infrequent transactions
You rely on your external auditor to deliver a high-quality, independent audit of your financial statements and to offer some limited support in raising awareness around the potential impact of new and amended accounting standards. However, their requirement to maintain independence can limit their ability to support you.
Grant Thornton’s FRAS team can pick up where your external auditor leaves off and provide advice on how you can respond to accounting challenges.
We’ll help you:
Convert your financial statements to another accounting framework including IFRS, U.S. GAAP, and ASPE
Gain an in-depth understanding of your external auditor’s expectations around analysis and documentation
Prepare for your year-end audit and prepare you to collaborate with your external auditor
Develop position papers on complex accounting matters or non-routine transactions
Understand and implement new and amended accounting standards
Learn by leading hands-on workshops facilitating the application of new or existing standards
Expand your finance team with on-demand resources and access to financial reporting experts
Whether you’re facing increasing demands for insights, information, and financial reporting for stakeholders, or you have an upcoming transaction or critical project, the demands placed on your finance team are increasing, but your internal resources are limited.
When you have a need for a specific skillset or require additional resources to supplement your in-house expertise, our team can provide you with the right support. And as your needs change you can scale up and down with ease and be confident that your business decisions are backed by an experienced team providing qualified support.
We’ll help you:
Alleviate internal resource constraints so you can focus on running your business
Supplement and upskill your finance team during a significant change, including an acquisition, disposal, high growth, or the preparation for a first-time audit or a liquidation event
Prepare financial statements and/or MD&A
Support quarterly and annual close cycles
Prepare audit support materials
Prepare carve-out or pro-forma financial statements
“Cold read” your financial statements and/or review MD&A to help identify deficiencies and bolster best practices
Provide tailored training on financial reporting and complex accounting topics such as impairment, fair value, and consolidation
Save time with seamless access to the full range of integrated accounting expertise you need, when you need it, coordinated by one firm
The financial reporting function now, more than ever, requires coordination and integration between disciplines, from complex accounting specialists to tax experts, to valuation specialists. Managing all these different functions so that they come together and feed into financial reporting on a timely basis can seem like a full-time job unto itself.
That’s where Grant Thornton’s FRAS team comes in. We work with you to understand your unique challenges and focus on supporting your broader business and financial reporting needs. We understand the complexities around financial reporting and because of that, we can provide integrated coordination of all your professional service advisors- taking the pressure off you and your finance team.
We’ll help you:
Access accounting advisory services delivered by a technically competent team
Align with other support services, such as tax reporting advisory, valuation, complex financial instrument pricing, internal controls, and litigation support services
Develop a clear project plan and effective solution in collaboration with your finance team
This publication details the amendments released by the IASB in IAS 12 to give temporary relief from accounting for deferred taxes from the OECD tax reform.
We round-up the progress on implementation in a selection of leading economies worldwide. We also look at the impact on businesses, likely go live timings and what could potentially delay or derail the process.
