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Business valuations
We offer expert valuation advice in transactions, regulatory and administrative matters, and matters subject to dispute – valuing businesses, shares and intangible assets in a wide range of industries.
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Capital markets
You need corporate finance specialists experienced in international capital markets on your side if you’re buying or selling financial securities.
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Complex and international services
Our experience of multi-jurisdictional insolvencies coupled with our international reputation allows us to deliver the best possible outcome for all stakeholders.
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Corporate insolvency
Our corporate investigation and recovery teams can help you manage insolvency situations and facilitate the best outcome.
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Debt advisory
An optimal funding structure for your organisation presents unprecedented opportunities, but achieving this can be difficult without a trusted advisor.
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Expert witness
Our expert witnesses analyse, interpret, summarise and present complex financial and business-related issues which are understandable and properly supported.
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Financial models
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Forensic and investigation services
We provide investigative accounting and litigation support services for commercial, matrimonial, criminal, business valuation and insurance disputes.
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Independent business review
Is your business viable? Will it remain viable in the future? A thorough independent business review can help your organisation answer these fundamental questions.
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IT forensics
Effective ESI analysis is integral to the success of your business. Our IT forensics experts have the technical expertise to identify, preserve and interrogate electronic data.
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Mergers and acquisitions
Grant Thornton provides strategic and execution support for mergers, acquisitions, sales and fundraising.
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Raising finance
Raising finance - funders value partners who can deliver a robust financial model, a sound business strategy and rigorous planning. We can guide you through the challenges that these transactions can pose and help you build a foundation for long term success once the deal is done.
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Relationship property services
Grant Thornton offers high quality independent advice on the many financial issues associated with relationship property from considering an individual financial issue to all aspects of a complex settlement.
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Restructuring and turnaround
Grant Thornton’s restructuring and turnaround service capabilities include cash flow, liquidity management and forecasting; crisis and interim management; financial advisory services to companies and parties in transition and distress
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Transaction advisory
Our depth of market knowledge will steer you through the transaction process. Grant Thornton’s dynamic teams offer range of financial, commercial and operational expertise.
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Virtual asset advisory
Helping you navigate the world of virtual currencies and decentralised financial systems.
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Corporate tax
Grant Thornton can identify tax issues, risks and opportunities in your organisation and implement strategies to improve your bottom line.
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Employment tax
Grant Thornton’s advisers can help you with PAYE (payroll tax), Kiwisaver, fringe benefits tax (FBT), student loans, global mobility services, international tax
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Global mobility services
Our team can help expatriates and their employers deal with tax and employment matters both in New Zealand and overseas. With the correct planning advice, employee allowances and benefits may be structured to avoid double taxation and achieve tax savings.
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GST
GST has the potential to become a minefield and can be expensive when it goes wrong. Our technical knowledge can help you minimise the negative impact of GST
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International tax
International tax rules are undergoing their biggest change in a generation. Tax authorities around the world are increasingly vigilant, especially when it comes to global operations.
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Research and Development
R&D tax incentives are often underused and misunderstood – is your business maximising opportunities for making claims?
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Tax compliance
Our advisers help clients manage the critical issue of compliance across accountancy regulations, corporation law and tax. We also offer business and wealth advisory services, which means we can provide a seamless and tax-effective offering to our clients.
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Tax governance
Mitigate tax risks and implement best practice governance that will stand up to IRD scrutiny and audits.
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Transfer pricing
Tax authorities are demanding transparency in international arrangements. We businesses comply with regulations and use transfer pricing as a strategic planning tool.
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Audit methodology
Our five step audit methodology offers a high quality service wherever you are in the world and includes planning, risk assessment, testing internal controls, substantive testing, and concluding and reporting
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Audit technology
We apply our audit methodology with an integrated set of software tools known as the Voyager suite. Our technology has been developed to produce quality audits that are effective and efficient.
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Financial reporting advisory
Our financial reporting advisers have the expertise to help you deal with the constantly evolving regulatory environment.
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Business architecture
Our business architects help businesses with disruptive conditions, business expansion and competitive challenges; the deployment of your strategy is critical to success.
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Cloud services
Leverage the cloud to keep your data safe, operate more efficiently, reduce costs and create a better experience for your employees and clients.
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Internal audit
Our internal audits deliver independent assurance over key controls within your riskiest processes, proving what works and what doesn’t and recommending improvements.
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IT advisory
Our hands on product experience, extensive functional knowledge and industry insights help clients solve complex IT and technology issues
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IT privacy and security
IT privacy and security should support your business strategy. Our pragmatic approach focuses on reducing cyber security risks specific to your organisation
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Payroll assurance
Our specialist payroll assurance team can conduct a review of your payroll system configuration and processes, and then help you and your team to implement any necessary recalculations.
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PCI DSS
Our information security specialists are approved Qualified Security Assessors (QSAs) that have been qualified by the PCI Security Standards Council to independently assess merchants and service providers.
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Process improvement
As your organisation grows in size and complexity, processes that were once enabling often become cumbersome and inefficient. To maintain growth, your business must remain flexible, agile and profitable
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Procurement/supply chain
Procurement and supply chain inputs will often dominate your balance sheet and constantly evolve for organisations to remain competitive and meet changing customer requirements
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Project assurance
Major programmes and projects expose you to significant financial and reputational risk throughout their life cycle. Don’t let these risks become a reality.
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Risk management
We understand that growing companies need to establish robust internal controls, and use information technology to effectively mitigate risk.
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Robotic process automation (RPA)
RPA is emerging as the most sophisticated form of automation used to help businesses become more agile and remain competitive in the face of today’s ongoing digital disruption.
A small piece of legislation passed into law this year without much fanfare: the Waste Minimisation (Information Requirement) Regulations 2021. As you might have guessed, it’s not exactly a holiday page turner to take to the beach this summer. But it is important, because it’s a signpost of the direction the Government is taking with waste management – something that will have an impact on not only every local council, but every Kiwi household as well.
The new regulations make it mandatory for waste management facilities to keep records about the waste they’re receiving and where it’s going. This is the first step in overhauling New Zealand’s waste management systems – it tells stakeholders what’s currently happening to the country’s waste, and sets a baseline so decisions can be made about how to improve our waste management.
A compliance challenge for councils
This new legislation aims to measure waste received and recycled (diverted from landfill), and once it’s been in place for long enough, the Government might use the data to rank councils’ performance - effectively name and shame the worst-performing regions. For some waste collection facilities, compliance with these regulations will be relatively straightforward because they already have the equipment and systems in place to measure movements in waste. For other waste collection facilities, this is going to be a huge challenge.
Given how little attention the new regulations have received, complying with these rules isn’t likely to be high on anyone’s priority list. Some councils might be tempted to charge people with the task of producing some numbers in Excel rather than taking the opportunity to fundamentally change the way waste movement data is collected and utilised.
If, instead, councils invest in the right advice and pursue fit for purpose infrastructure, processes, and platforms, they’ll have sustainable systems that will save money in the long run - while also producing high quality data. To achieve this will require support from senior leadership, time, and money invested in selecting and setting up new infrastructure. Done right, this should create genuine insights into local waste management, identify problems and spark solutions. In addition, these regulations are likely to be the first step toward mandated recycling or waste reduction targets, so by getting the right systems in place now, councils will be better prepared for expanded legislation in the future.
Once councils have this information, even if it paints a sobering picture of current waste management practices, at least it provides a starting point from which to improve performance in the form of waste diversion. As inconsequential as these new regulations might seem, it should be the start of overhauling our waste management systems. If we can do a better job of reducing our waste, we will reduce New Zealand’s carbon footprint and get closer to achieving our climate change goals.
Our rubbish performance
Unfortunately, New Zealand’s performance on waste management is pretty abysmal. We have one of the highest per-person waste generation rates in the world and waste contributes around 4% of Aotearoa’s total greenhouse gas emissions. Our record on recycling is also disappointing, with different councils each taking a variety of approaches to sorting and collecting household recyclables – what Recycle NZ describes as “a vague and scattered approach”.
The best way to maximise household recycling is to separate at source before it is picked up, either at kerbside, businesses, or drop offs at collection points. Separation at source results in the cleanest sources of material that can be recycled for the highest uses. Instead, many councils have gone for a lower-cost commingled option with a single recycling bin for every type of recyclable material. This results in mixing and contamination which leads to far lower levels of recyclability, which is why Auckland’s only pulp recycling centre refuses to accept paper and cardboard from Auckland households and why 50% of comingled recycling collection often goes to landfill.
Whangarei’s council has one of the best systems in the country: a kerbside collection service with staff who will check your crates, leave behind anything that will contaminate the whole truck, and provide written guidance to help you understand what you can and can’t recycle. Residents learn really fast. Whangarei is on the right track: Sweden has seven different recycling bins for each household, less than 1% of its rubbish goes into landfill and 46% of its household waste is turned into energy.
For New Zealand to reduce its carbon emissions and move toward zero waste, in the near future we could see waste linked to individual households. Hawkes Bay District Council already has tagged bins that are recorded by its trucks, so it knows exactly how often it has collected waste from each address. It then provides rebates to low waste residents. It’s quite possible that we could move to a user pays system, where you get a statement each month from your council with a fee for waste by weight, similar to the way some homeowners get a monthly water statement.
Transfer stations need up their game
It’s not only households that need to step up – they’re only one link in the chain. The easiest improvements will be from waste management facilities. There’s only a limited number of transfer and refuse stations around New Zealand so it’s very achievable to raise the standard at all of them. Top performing transfer stations can divert 60%+ of waste from landfill – an amazing result!
Currently, New Zealand’s waste management facilities are a mixture of privately owned and council owned, which means that conflicts of interest can arise. There are some excellent operators out there who do far more than is required to minimise our waste. But worryingly, contractors can be incentivised to dump more if councils are paying for waste delivered to landfill.
Hopefully that will change now every facility, privately or publicly owned, must keep and report these records quarterly.
It starts with hardware: each transfer station should have weighbridge(s) to record waste and recycling movements in and out of the facility, this is the preferred method in the Act for measuring waste movements. And honestly, that’s the easy part. More complex are the processes, and a system to store that data, as well as the ability for councils to report back to their teams, Government and even individual households about their contribution to a cleaner, greener Aotearoa.
For further information, contact:
Michael WorthPartner, ConsultingM: +64 21 583 303 E: michael.worth@nz.gt.com |
Elisha NuttallSenior Manager, ConsultingM: +64 27 201 7398 E: elisha.nuttall@nz.gt.com |